Argentina is positioned as one of the most developed crypto ecosystems in all of Latin America. According to data from the Statista aggregator, the country ranks fourth in the world in terms of cryptocurrency penetration, with more 400,000 active users.
In this context, new investment instruments emerged that allow users to invest in little-known digital currencies and generate returns in dollars.
One of the most interesting tools are the “investment pools” in cryptocurrencies, a service that moves more than US $ 5.6 billion a day on exchanges such as Binance.
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What are cryptocurrency investment pools? Investors deposit their money in an investment pool and get daily rewards in cryptocurrencies. That is, users invest in a well and generate interest.
Next, the returns are distributed automatically to each of the participants. This distribution is known as an “airdrop”.
Generally, airdrops are launched by companies that want to make their cryptocurrencies known and seek to make the projects relevant within the ecosystem. In other words, it is a form of marketing.
Investment pools and airdrop: what are they and how to invest in Argentina
Notably users can withdraw from the pool at any time and if they want to participate in another investment group, they are free to do so in a few clicks.
MBOX, the cryptocurrency that Binance “gives away”
One of the most popular exchanges to invest in investment pools in Argentina is Binance. The service is called “Launchpool“and users can generate new assets.
One of the most recent airdrops received by people who invested in Binance’s Launchpool is MBOX. It began being distributed this week and has an annual percentage yield of around 70%, according to sources from the exchange.
In the last 30 days, the price of MBOX rose more than 400% and today is around US $ 10.37. According to market analysts, the cryptocurrency could hit $ 35 in the coming months.
In the medium term, MBOX seeks to position itself as the next NFT video game platform – non-fungible tokens – to compete side by side with Axie Infinity, one of the most popular games in the crypto ecosystem.
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To invest in Binance’s Launchpool, you need an account and go to the “Savings” tab.
Then select “transfer” and choose one of the three tokens offered by the platform– It can be invested in BNB (Binance Coin), BUSD (Binance’s digital dollar) or MBOX. The next step is to place the amount of tokens that will go to the pool and finally, confirm the transfer.
What is MBOX?
It is a protocol that works on the Binance Smart Chain blockchain and combines an NFT cryptocurrency farming platform and three decentralized finance video games.
In short, MBOX is a platform that hosts video games where NFTs are bought and sold and players can earn cryptocurrencies for playing.