HydroCryp is Bitcoin Mining investment fund, structured in a manner similar to trusts, born in Paraguay. It was founded by two Argentineans, who partnered with a crypto reference in Paraguay. With a minimum investment of U$S 10,000, it generates weekly dividends and allows real-time monitoring of profits online. Fernando García Koch, founding partner of the firm, spoke with Bank Magazine.
– What is this type of use they make of cryptocurrencies?
-We are dedicated to mining Bitcoin or Bitcoin Cash. We have not made an ICO, nor created a “token” or own currency. As a fact to keep in mind, “mining cryptocurrencies” is not finding, discovering or manufacturing new currencies, but rather telling the set of processes necessary to validate and process the transactions of a cryptocurrency.
-How are they used and negotiated in Argentina?
-Bitcoin is used worldwide, mainly, as a reserve of value although transactions and payments can be made; For example, you can now make purchases on Amazon using a plug-in for Google Chrome that allows you to buy on Amazon and pay with crypto. They are negotiated between people or bought in exchanges. One of the most recognized and historical exchanges is bitstamp.
– And what requirements are needed to negotiate them?
-Have registered an electronic wallet configured to operate with Bitcoin.
-In general, how is the transaction between users and cryptocurrencies?
-The transactions are recorded in the blockchain. We deposit investors bitcoins weekly after discounting operating costs and expenses from “mining production”; among others, electric power, facilities and insurance.
-When can they be charged in cash?
-At 48 hours after the contract is closed, the investor must send us the wallet to start collecting dividends weekly.
-What kind of cryptocurrencies do you use to invest?
-Mining equipment that we currently operate can mine Bitcoin and Bitcoin Cash. It is not ruled out in the future to undermine other types of coins with other equipment if it is strategically convenient.
-What are the returns they grant?
-The theoretical yields are, at current Bitcoin values, of around 3.85% per month in dollars. Because the fund is in an initial state, having had to allocate a good part of the investment to the structuring, the current yield is below that, but it is growing since new investments are being destined mainly for the purchase of mining equipment .
– Can you easily get out of this type of investment?
-Investors can leave informing the fund administrators that you want to leave the investment position and they communicate to the rest of the investors to see if anyone is interested in taking it or the investor can transfer their investment, in private agreement, to a third party . For that, a new contract must be signed between the new investor and us to formalize.-
By Mariano Jaimovich