For its part, the crypto-dollar USDT, the fourth most traded digital currency in the entire crypto ecosystem, it reached a purchase value of $ 209.66 and $ 213.91 for sale.
“The crypto dollar” – all the stablecoins or stablecoins – touched its historical maximum as is the case of DAI and USDT. The above is part of an investment known as “counted with crypto” (CCL) in which citizens convert their Argentine pesos into cryptocurrencies, that with dollar parity, they function as a refuge from inflation or market volatility.
Due to their “stable” quality, all currencies maintain a market price of US $ 1. However, they are listed in Argentine pesos. The gap between the crypto dollar and the blue dollar occurs for three reasons: stable cryptocurrencies trade 24 hours a day, unlike blue. Second, the price moves according to supply and demand and therefore there is speculation that impacts on the price and, thirdly, it is a small market and therefore it shows some volatility.
An explanation about this phenomenon gave it Matías Alberti, Country Manager of Buenbit Argentina consulted by Ambit: “The answer is that stablecoins tend to continue in cash with liqui, not blue. The best explanation is that the foreign dollar is more expensive than the local dollar, and this is what usually happens when using cash with settlement” .
“The cash with liqui basically is to buy a bond with dollars in Argentina (MEP dollar) and sell it for dollars in US to someone (dollar cable). Unlike withdrawing USD by bank, this operation has a variable cost beyond the commissions and it is the price of the bond in cable dollars compared to MEP dollars. In recent weeks, the money abroad is trading between 4 and 6% more, it is not something stable, but it depends on how many people are interested in entering / get money out of the country “, concluded.
For its part, Santiago Di Paolo, Head of Community Growth & Research en Lemon, explained to this medium that “Cryptocurrencies are a digital asset, and like all assets (physical and digital) the price is set by supply and demand. The decrease in supply tends to drive the price of a token upward and the price eventually ends up rising or not. it also depends on movements in demand. ”
He remarked that the interesting thing about stable cryptocurrencies (such as DAI or USDT) is that “Its function is to be tied to the value of the US dollar, regardless of whether it is CCL or blue or another type of local currency, which makes it an attractive alternative for people who want to keep their money safe in the economy that they want. “.
In addition, By Paolo indicated that “The advantages of having ‘crypto dollar’ are much more comprehensive than owning the physical dollar, given that in platforms like Lemon Cash you can generate fixed annual crypto profits of up to 13% in DAI (stable crypto) within the current financial ecosystem, or send the digital asset to any corner instantly and at a lower cost “.
What maneuvers are made with the exchange gap?
One of the tools is to do “mash” but with cryptocurrencies. Traditional mash consists of buying dollars at the official price and selling them in the informal market. To do it with the crypto world, you have to use an exchange that accepts transfers in dollars. Later those dollars are exchanged for DAI and then those DAI are sold and pesos are obtained. The difference that is obtained is close to 20%.
Another option is the curl with cryptocurrencies. The traditional roll meant buying bonds in dollars that were exchanged for pesos, at that time 7% above the official one, and then with those pesos dollars were bought again. Now it can be done through gift cards, which are priced in dollars.
In Airtm you buy AirUSD with pesos, with those funds you buy a gift card that you get with discounts of 30 or 35%, that card, which is a code that can be sent by mail, you sell it in Mercado Libre at a blue price, with the funds that reach you at Mercado Pago, you buy a gift card at Airtm again.
How to trade the “Cash with Liqui” but the version “Cash with crypto”: the traditional CCL arises from buying shares of a company in Argentina and with pesos and selling them abroad in dollars. It is a legal way to dollarize without touching the quota. In the crypto version, instead of shares it is possible to buy cryptocurrencies (and leave them in a digital wallet) or credits in pesos to send them to a foreign bank.
Source From: Ambito
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