Martin Grosz
07/23/2021 6:02 AM
Clarín.com
Services
Updated 07/23/2021 6:02 AM
Many Argentines save in dollars.
They buy them and generally leave them for years in an account or safe.
But what is most recommended is to
invest them
, so that they are
more
and
more
and beat the
US inflation
(which grew strong).
How to "put to work" that savings easily, with
good profits
and without it being at hand?
The answer may lie in cryptocurrencies.
Currently,
bank
fixed terms
in dollars, the most traditional investment option, do not offer tempting conditions for savers.
It happens that, when constituting them, the money can
not be withdrawn
for at least
30 days
.
And, by renewing them, each month a profit of just
0.4% per year is obtained
on average, according to data from the Central Bank.
There are important entities that pay even less:
0.1% or 0.05%
per annum.
Which is equivalent, in the latter case, to receiving just
US $ 5
for immobilizing
US $ 10,000
for 365 days.
If they are not invested, dollars also lose value over time.
Photo: Bloomberg.
Against this, in the growing universe of
decentralized finance
(known as "DeFi", for
decentralized finance
) today it is possible to make conservative investments in cryptocurrency with earnings that are on average
15 or 20 times greater
than those of a bank fixed term.
What are the attractions of entering a "fixed term" crypto?
The
crypto "fixed terms"
that are already massively offered in the country are having
dollarized
yields
of between
5% and 8% per year
, according to
Clarín
and confirmed by specialists consulted.
And that is not its only
advantage
, but also:
The invested capital is
always available
: it can be withdrawn whenever you want, without waiting for a term and without any loss or penalty.
The
interest
is paid to the investor in many cases
every day
or in a
week
, instead having to wait 30, 90 or 365 days in the traditional system.
Programs that work on blockchain networks allow you to invest cryptocurrencies and generate real profits.
Photo: Shutterstock.
How does this investment work and what cryptocurrencies are used?
In a common fixed term, the saver cedes his
dollars
for a certain time to a bank, which pays him an interest and then uses the money to give loans or do other business.
In a fixed -
term "crypto" Instead, what the investor pays -in a network
blockchain
controlled by their own users- are not dollars but
stablecoins:
cryptocurrency of
stable trading
which, unlike others such as bitcoin, always
equals dollars
in parity 1 to 1. And that can be bought in the country without traps or limits.
The interests of the investment, meanwhile, are also periodically charged in these "crypto dollars", which at any time can be
exchanged for real dollars
or for pesos (at blue value) in the local market.
Among the
stablecoins
most used for these investments are
DAI
, Tether (
USDT
), USD Coin (
USDC
) and Binance USD (
BUSD
), which depending on the case are backed by
physical dollars
in vaults or by other crypto assets, so that each unit of them is worth one US dollar.
DAIs can be invested to receive profits in that same cryptocurrency, which always trades like the dollar.
Image: Buenbit.
Step by step, how to make a crypto fixed term in Argentina?
The easiest way to make these investments is to resort to one of the
cryptocurrency "exchange houses"
(also called
exchanges
)
that offer and facilitate them.
Once the saver has
registered
on the web or in the app of one of these brokers, he will be able very quickly, as if he were using a home banking, to follow the necessary steps:
1 °)
Enter the dollars
or pesos that you are going to invest, by bank transfer or other means.
2 °)
Buy
stable cryptocurrencies (such as DAI, USDT, USDC or BUSD) at the current market price.
3 °)
Start investing
the "crypto dollars" acquired and collect interest.
4 °) When you want,
withdraw everything
: convert the investment and earnings to a traditional currency (pesos or dollars) and transfer them to your own bank account.
Stablecoins can be bought with dollars at almost 1 to 1 parity, or with pesos at an exchange rate such as blue.
Photo: Bloomberg.
What brokers offer "fixed terms" crypto in Argentina and how much can you earn in each one?
1) INVEST STABLECOINS IN
BUENBIT
Buenbit allows you to buy the DAI "crypto dollars", invest them on the spot and
charge daily
interest on that
stablecoin
that is attractive, taking into account that each DAI can then be
converted into a
real
dollar
.
"We are adding more and more users and
more and more people are
using the investment in DAI. Through Buenbit, they can invest
their DAI in
one click
in the most solid decentralized stablecoin finance protocols of the Ethereum network,"
Emiliano Limia
explained to
Clarín
, the company's spokesperson.
Although the returns are
variable
, historical records show that this investment has been generating
8% annual
returns
in DAI
, Limia said.
"As it is an investment in
fixed-term
stablecoins
, the
dollar value
of the invested capital is not at stake, as when one invests in volatile cryptos or in company stocks. On the other hand, and unlike the fixed term, the funds can withdraw at all times in one click without any cost or penalty, "they explained in Buenbit.
2) INVEST STABLECOINS IN
SESOCIO
Through blockchain networks, investors make loans to other users and earn money.
Image: SeSocio.
In SeSocio, any saver can buy -with pesos or
dollars-
the
stablecoins
tied to the dollar such as DAI, USDT, USDC or BUSD and invest them
without minimum amounts
in a "liquidity pool" with
fixed returns
that are charged
day by day
in crypto dollars.
"Conservative investors can be found on the platform with
DeFi projects such
as AAVE, which offers a
fixed
return
of
6% per year
with daily payments, much more than a fixed term in dollars," said Nuriel Hilu, Blockchain and Cryptocurrency expert at SeSocio .
"Being perched on the Ethereum network and working via smart contracts, in this investment there is no institutional or financial intermediation risk. And another advantage is that the money can be
easily
converted
to pesos or dollars
, in a very short time," he said.
And he added: "The most important thing is that the investor's money
is not blocked
. Our projects pay daily interest and the money can be withdrawn at any time."
3) INVEST STABLECOINS IN
RIPIO
The price in pesos of the "crypto dollar" USDC in Ripio, this Thursday, above the "solidarity" and below the blue.
Image: Capture.
In Ripio, another of the
best known
exchanges
, they allow their users to create
crypto "fixed terms"
from their account
through an option called Ripio Earn.
This investment can be made by buying the
stablecoin
USDC
on the platform
-that this Thursday was trading at
$ 175.21
- and then entering the "Investments" tab to put those "crypto dollars" to work immediately.
With a
minimum investment
of 50 USDC, this allows generating returns of up to
6% per year
in USDC, which are credited
monthly
.
"You can cancel your investment whenever you want and withdraw the proportional profits," they clarify on their website.
4) INVEST STABLECOINS IN
LEMON CASH
By investing cryptocurrencies in Lemon the profits are collected every week.
Image: Capture.
The fintech Lemon, for its part, allows you to acquire the "crypto-dollar"
Tether
(USDT)
from its virtual wallet
and immediately put it to generate profits through an investment system called Lemon Earn.
"The
annual rate nominal
crypto is a
7% USDT
. In
addition,
payments are weekly
and do not need to
tie himself to any deadline stipulated: Users can withdraw or sell their criptomonedas whenever they
want ,
" he told
Clarin
Franco Bianchi, the Marketing director of the firm.
"Another advantage - he added - is that in Lemon Cash you
do not need to be an expert
to access this benefit. Just by buying the USDT cryptocurrency and saving it in the app, the profits are received every Monday."
How safe is the investment and what are its risks?
DeFi investments with
stablecoins
are among the most conservative that can be made with cryptocurrencies through major brokers, which are subject to local
regulations and standards
.
Anyway, it is very important
to be well informed
before buying cryptocurrencies and investing them, to be clear -among other points- that
no central bank
or government guarantees the value of these digital assets and that there are
computer risks
.
Regarding this, last May, the Central Bank of the Argentine Republic (BCRA) and the National Securities Commission (CNV) issued a statement to warn about some
dangers
of cryptocurrencies and recommend "
a prudent
" and "precautionary"
attitude
towards to them.
At the Central Bank, they recommended having a "prudent attitude" towards cryptocurrencies.
Photo: Maxi Failla.
Both organizations recalled that crypto assets, although today they can be used to pay or invest, "are not
issued or endorsed
by a central bank or government authority" and do not meet the requirements to be formally considered as "money of legal tender or negotiable title" .
The BCRA and the CNV also warned that crypto asset exchange, negotiation and custody platforms could suffer
operational problems
that prevent access to holdings, or even cyberattacks that cause users to lose their invested capital.
It is up to investors to decide whether it is worth taking these risks in order to earn more.
Or if they prefer to trust the traditional financial system, which despite all its guarantees and controls more than once made people lose their savings.
MG
Look also
Dollar Savings: 5 Very Common Mistakes That Ruin Your Banknotes And Make Them Worthless
How to buy gold in Argentina: three ways to invest and their requirements
