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“The crypto market in Latin America is growing”

August 12, 2020

The staking process has become a popular method for crypto investors. On this and other topics – such as the crypto asset market in Latin America and Spain – We spoke to Marie Tatibouet, CMO of Gate.io

Fernando Quirós (FQ): The staking process has become a popular method for crypto investors. What are the top five stakeout networks by capitalization?

Marie Tatibouet (MT): By default, staking is a major use case to encourage and encourage user participation. However, it is usually a complicated action. The fact that the staking process provides denominated returns for the staked asset regardless of market conditions makes it an excellent solution for maintaining a long position on an asset.

“The crypto market in Latin America is growing”“The crypto market in Latin America is growing”

Stakeout programs have brought users stable returns on their cryptocurrency investments. A very competitive advantage that some employment programs offer is the high annual interest rate that they offer.

Tezos with a market cap of $ 936,430,318 is the top project, followed by Cosmos, ICON, Algorand and Decred (DCR).

QQ: Has PoS been well received by users? Why?

MET: In the last few months There has been a strong move by leading crypto exchanges to launch staking programs. From a users perspective, betting could be similar to investing in fixed income securities like bonds or money market funds, making it a great opportunity to earn extra interest.

The concept of staking is related to the proof-of-stake mechanism. PoS is based on the idea of ​​creating and validating new blocks by staking out. This enables building blocks without relying on hardware mining – in contrast to the PoW mechanism, which is based on the concept of mining, to verify and validate new blocks. Instead of computationally competing for the next block, PoS validators are selected based on the number of coins they invest in, making them a better option for both investors and vendors.

QQ: Does Gate.io have a layout program? Can you give us details about this?

MT: Gate.io’s staking program is HOLD Earn, which allows users to earn interest on ongoing and fixed deposits. It comes with stable returns and better risk. Since its inception, users of our HOLD Earn program have closed more than $ 48 million, making it one of the most successful staking programs in the industry. HOLD Earn runs the programs for users in leading currencies like BTC, ETH, XRP, SERO and many more.

In some lock-up programs from HOLD Earn, the interest rate can reach up to 1,500%. The last stakeout activity for HOLD Earn started this week is called HOLD Earn Tuesday (Round 2), which offers an annual interest rate of up to 7%.

QQ: What is GateChain Mainnet?

MT: GateChain was officially launched at the end of June. It is a novel solution to the security problems in the transaction of assets in blockchain technology. It is an innovative, next-generation public blockchain that solves security problems and ensures the protection of assets even after private keys have been lost. GateChain’s on-chain asset security differs from other traditional blockchains like Bitcoin and Ethereum.

GateChain’s unique on-chain vault account protects assets from hackers, and the fund recovery mechanism can rescue on-chain assets after private keys are lost. Therefore GateChain offers 100% security when storing assets at very low cost and is therefore immune to attacks by brute force.

QQ: How do you see the crypto market in Latin America?

MT: The crypto market in Latin America is growing. Countries like Venezuela, Colombia, Argentina or Brazil have definitely recognized the promising effects that digital currencies can have on their economies. Political and economic instability and skyrocketing inflation are the reason why the population, especially young people, are turning to cryptocurrencies as a financial alternative. The devaluation of most local fiat currencies, corruption and the political and social crisis facing some of these regions are the main drivers of this change. In countries like Colombia, Argentina or Chile, between 10% and 18% of the population own some type of cryptocurrency. Global companies, including Gate.io, are seeing growing consumer interest in cryptocurrencies and the technology behind it, which is why we are seeing gradual user growth in the region.

QQ: How do you see the crypto market in Spain?

MT: The crypto market in Spain is still young, especially when compared to Latin America. The crypto community is growing mainly among young, affluent and educated generations, but a little more slowly than in the Latin continent. Certainly, the economic situation in Spain is both politically and socially more stable than in Latin America, which means that there is no urgent need to look for financial alternatives such as cryptocurrencies. In fact, some Spaniards still consider cryptocurrencies to be too risky.

On the other hand, the Spanish legislation on cryptocurrencies is uncertain. The government is very careful. Currently, cryptocurrencies can be viewed as digital assets, that is, securities or goods, but not legal tender. Because of this, most cryptocurrency holders see this primarily as an investment. In any case, Spain is at the top of its neighboring countries in Europe. 32% of the population want to buy digital assets. It is among the top 3 crypto investors in Europe and the fifth in the world among Bitcoin owners, which means that the market has a great opportunity to grow and expand.

QQ: Do you consider cryptocurrencies to be a valid asset to invest in?

MT: Although cryptocurrencies are still in an emerging stage compared to other classic fixed assets such as gold, the stock market or oil, they have aroused great interest among the world’s population and have proven to be just as valid as any other class of active. Digital tokens are seen today as a creative new way to redefine the economy. Everyone from investors to institutions to governments are starting to pay close attention to digital assets.

Investment returns and the performance of some of the leading currencies in the market have been meteoric. For example, Bitcoin’s 1.900% increase over a period of one year in 2017.

The crypto community is also aware of the volatility issue that most cryptocurrencies face, which is why the most stable coins, or stable coins, win on impressive ground. As blockchain technology continues to evolve in terms of security and decentralization, we expect that cryptocurrencies will soon flourish alongside the traditional funding that is reaching the entire population worldwide.

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