The great advantages of acquiring DAI in devalued countries - the most relevant in DeFi, stablecoins and DAI

The great advantages of acquiring DAI in devalued countries - the most relevant in DeFi, stablecoins and DAI


Crypto-backed stablecoins is that they are over-guaranteed. It means that for every Dollar in circulation of a stablecoin of this type, there is more than 1 Dollar that supports it. For example, DAI currently has $ 3.80 in support for each DAI in circulation. This type of structure is necessary to keep the stablecoin stable given the fluctuations in the market value and provides a form of immediate audit by the user, since they can know the system's support at all times.


Fiat Money Guarantee: These are backed by fiat money and is one of the most common forms of stablecoin. In simple terms, it is in a way a digital form of fiat money, what happens in this form of stablecoin is that these coins have the same value as the currency that supports it.

Stablecoins are stablecoins, they have a perhaps too graphic name, given the history of volatility in the crypto world. They differ from other currencies by the relatively stable price. Most, following the value of the US dollar. There are some differences within the world of stablecoins and that is how they capture the value for which they are stable.


The greatest interest in cryptocurrencies is in countries where central bank money has collapsed or lost legitimacy, which is why citizens have realized that Bitcoin and other cryptocurrencies represent an alternative to the current system.

From a financial point of view, Bitcoin, cryptocurrencies and DeFi (decentralized finance) allow access to financial products that were previously only available to a limited group of people. Today, anyone in the world, without having to register with a financial institution, can transfer value online, make leveraged trading and / or request a loan with collateral, all without leaving their home.
With Bitcoin, cryptocurrencies and DeFi, you can structure financial transactions that were previously impossible, even by turning to trusted third parties who are experts in financial transactions.

While a few years ago being able to store and transfer value online without having to trust a third party was unthinkable

 

Undercolralization
MakerDAO is the decentralized financial protocol that the stablecoin Dai (DAI) generates.

DAIs are created when a user deposits Ethereum (ETH), Basic Attention Token (BAT), USD Coin, (USDC), or Wrapped Bitcoin (WBTC) in a Maker smart contract.

The deposited funds are placed in a secured debt position called a "vault," with a sum of DAI equal to that of the deposited crypto assets minus a maintenance margin that is created. Users can earn interest or lend funds from their Vault.

Collateralized cryptocurrencies are only accessible after the corresponding Dai are redeemed and destroyed, and can be auctioned to recapitalize the Maker system in case their value falls below that of the outstanding loan.


“MakerDAO is a very important project for DeFi: it is not only a critical piece of Lego, but it is also a model of how organizations based on DeFi DAO can operate. We are all going to learn a lot about how all of this will unfold. ”

 

beraiuguvgwqd

 

Regardless of the new restrictions of the Argentine government, Companies that want to access foreign currency and citizens who want to save, but who do not trust the Argentine peso, and still have more and more obstacles. "Since Monday of last week, in Qubit you can buy dollars with pesos, sell dollars for pesos and buy DAI with dollars"

01/06/2020


"Given the new government restrictions for operations in dollars, from qubit.com. ar they decided to launch operations in USD so that their users can buy dollars through operations in cryptocurrencies",

"Since Monday of last week, in Qubit you can buy dollars with pesos, sell dollars for pesos and buy DAI with dollars"

It should also be noted that users can also buy DAI, a decentralized stablecoin that has the approximate value of one dollar. "In this way, users can protect their savings in dollars by buying DAI, which being a cryptocurrency is out of banks and nobody can take it away or freeze it. DAI is a very interesting currency for Argentina given that on the one hand it is anti-inflationary, since it is worth a dollar and on the other, it is anti-corralitos and anti-expropriations ”, highlighted the Operations Manager of the firm of Qubit Borkers

 

 

 
For MakerDAO's Latin America Marketing Leader, people will try to find an option and notice the advantages of acquiring DAI in devalued countries, they think DAI is excellent in that case.

01/06/2020

 

“The issue of Argentina and the dollar is a news story every week. And we are seeing that the crypto issue also entered the radar of the Argentine Government, the Central Bank and the regulatory entities, "said Di Pietrantonio. "But still nothing is very clear yet," he added.


I frame the great advantages of stablecoins for users. "The advantages of a stabecoin like DAI, is that they can protect it as paper money, but with the security that they do not have it hanging around the house, or 'under the mattress' as it is commonly said. It is also an advantage for sending money between family members. This is very simple with cryptocurrencies. It is practically instantaneous, anywhere in the world. You don't have to wait and you don't have to trust a third party ”.

"Later, what we are experiencing day by day with the devaluation of the currency, accelerated by the pandemic and the quarantine in which we are submerged, means that there is no real value of the dollar, in terms of Argentine pesos," he emphasized.

I add that the devaluation scenarios are not something exclusive to Argentina: “We are seeing that in other Latin American countries there is also devaluation. Not at the rate of Argentina, but it is happening. We can see it in Brazil, Colombia, Chile or Mexico, which are also important markets worldwide. We are going to see how stablecoins are an excellent form of protection in this scenario ”.


Capitalization

Referring to the total capitalization of stablecoins worldwide

“There is also something fundamental. In my opinion, the land that cryptos gain is a land that will not be given up later. He who already knows how to buy, send and save with stablecoin, already knows how to have his own receipt, and that is marked by fire ”.

 

 Potential
this was his answer about the potential of stablecoins and the great possibility that it gives the citizen of being a way to escape harmful monetary policies

"I see a lot of potential, not only for Argentina, but for all those countries where citizens have to endure countless economic swings that take their toll on the possibilities of progress and more basic goals, such as food, education or health. Cryptocurrencies like DAI give citizens the possibility of being an escape route from harmful national monetary policies that only threaten the financial capacity of the people. Imagine if someone, every time he collects his salary in fiat currency, passes it 100 percent to DAI and sells as he needs to spend. In this way people can stand at a stable value and not be afraid of an unexpected devaluation. That is the option that we give people today. ”

 

 

Companies linked to Colombia fintech Increase
In the last three months, 28 new members have joined the Colombia Fintech community,

01/06/2020

 


"The pandemic scenario caused by COVID-19 has further energized the ecosystem, as Fintech solutions integrated with productive synergies will mitigate the impacts from external shocks, as well as facilitate the acceleration of digital transformation processes. Fintech companies have proven to be fundamental for the financial inclusion of individuals, independent workers and small businesses over time, and it is vital to give them the tools to strengthen their purpose and ensure their permanence as key actors in the ecosystem.

In the statement, they detailed: "The 28 new members are mainly from the digital credit and digital payments subsectors (...). In addition to this, there are also software development companies that, although they are not part of the pure fintech business , add value to a holistic and powerful ecosystem of financial solutions that requires technology as a determining factor in disruption. "

further
The crypto ecosystem in Madrid is also strong and growing at a significant rate. In addition to large companies such as Binance, which recently appointed its new director for Spain, in Madrid there are projects such as Crypto Plaza, which is a co-working space in which various industry projects participate; Bitcobie, which is a company dedicated to training in Bitcoin, blockchain, cryptocurrencies and DeFi

ohi4tgiohrfigq4iqr

 

 
The digital money exchange platform Uphold announced the expansion of its offer of stable coins, and the launch of a "Stablecoins Center", available to users in Latin American countries.

02/06/2020

 

 

 June 2.
The new Stablecoins Center offers access to six stablecoins, within the Uphold platform. These are: Tether (USDT), TrueUSD (TUSD), USD Coin (USDC) and DAI,

UP hold CEO spoke about it
 “Today, we believe that it is very important to be able to provide our clients with the cheapest and most transparent method of managing their money. Stable currencies are less volatile than other cryptocurrencies. They are tied 1: 1 to safe haven currencies like the USD. And fast And they are rapidly being adopted by central banks in different countries of the world. "


referring to latin america
 “In many Latin American countries the economies are very changing. The loss of value of local currencies - backed by governments with little credibility - and with a lot of inflation, means that the purchasing power of people is affected over the days. Therefore, our objective, with the new Uphold Stablecoins Center, is to make available to users in Latin American countries a new, easy and accessible tool to protect their finances. And available to everyone. "

these are the most important points
*Accessibility - Provides users with access through the most popular stablecoins by volume.

*Connectivity: Funds can be loaded / withdrawn using debit / credit cards, bank accounts in around 40 countries, and wallets on seven cryptocurrency networks

*Financial stability: Stable currencies are designed to provide users with a "safe harbor", tied to the value of the world's major currencies.

*Earn Interest: All supported stablecoins can earn up to 10% interest through "Cred Earn" (a third party app).

However, it should be noted that the new Uphold Stablecoins Center is available to all users in Latin America with the exception of countries subject to specific legal restrictions.

 

 

Bitso announced that new users who deposit 100 DAIs on their platform and save them until June 30 will receive 5 DAIs as a reward.

02/06/2020

 

The firm, with a history in Mexico and with a presence also in Argentina since this year, explained that deposits can be made between June 7 (11:59 p.m.) with application to the first 1,000 participants.

 In addition, they detailed: “DAI is a cryptocurrency tied to the value of the US dollar that, as part of MakerDAO's smart contracts and products protocol, gives access to decentralized financial products (DeFi) ranging from savings instruments to loans. DAI is based on the Ethereum network and is backed by ETH and other ERC-20 tokens. ”

To win these DAIs, the conditions are simple: first, open an account with Bitso; then deposit 100 DAI and keep them until June 30. Finally, between July 1 and 10, through Bitso Transfer —an instant function and at no cost to send and receive cryptocurrencies—, new users who have met these requirements will receive the 5 DAI of remuneration ", they added. +

 

subscribe for more

thanks for read blessings

 

 

 

 

How do you rate this article?


3

0

Crypto adict (Manu VZ)
Crypto adict (Manu VZ)

Hi analyze graphics, and make staking, im a adict crypto and Hodler. I try to keep my faith but I'm looking for more. Not luck just odds.


Welcome to the most persistent family
Welcome to the most persistent family

Welcome to the most persistent family of all Publish0x. ¡Because we were born ready, ready to be free!, we like to increase the odds not waiting for luck come to us.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.