• Crypto platform Let’sBit has launched a new tool that offers investment services in pesos and dollars.
• It works with over 25 cryptocurrencies and provides daily payments.
• Colombian crypto-asset market has a great potential for growth.

Crypto exchange ‘Let’sBit’,which operates in the Colombian market, is offering its clients the possibility to trade on a new investment platform that promises automatic annual returns of up to 19%.

This platform allows you to trade cryptocurrency with investment options in dollars or pesos. It also provides more than 40 pairing options. The platform also provides international transfer services and crypto investments.

Over the past 2 years, Colombia’s adoption and usage of cryptocurrency has increased significantly. According to Statista data, Colombia has the largest network of ATMs that support cryptocurrency in Latin America.

Let’sBit is a decentralized finance company that, as with all DeFi projects, manages various investment instruments automated by smart contracts. The commercial operations are cheaper than traditional banking.

“We want to bring all the possible benefits of cryptocurrencies to users and, in this way, ensure that they can have total control and freedom to manage their finances,” Laura Rodríguez, national manager of Let’sBit in Colombia, told Semana magazine.

What the Service Does

To trade on the platform users need to choose the cryptocurrency they want to use or which will provide them with the most daily returns. BTC, ADA and ETH are just a few of the 25 cryptocurrencies that you can choose from.

User’s then select the rate that they consider the most convenient, according to the investment strategy chosen while also taking into account that the rate of return varies according to the selected cryptocurrency.

The platform allows traders to view their earnings every day at 1:00 pm (PT) Users can access their funds at any hour, according to the company.

According to the company, there are many benefits that users can reap from the investment tool. These include the best rate of return (upto 19%) and daily payments. There is also a wide range of protocols available (composition, expected returns and risk).

The platform does not require minimum funds to get started. It also offers personalized customer support that can help users resolve any issues or clarify any questions.

“We always seek to offer understanding and speed when investing. With this new service on our platform, we want the user to find in one place the way to carry out different operations, just one click away”, assured Rodríguez.

Flipside

• Rapid growth in investment and cryptocurrency use in Colombia, as well as other Latin American countries is directly tied to high inflation rates and the unbanked section of Colombia.
• The drug trafficking industry also attracts capital, which uses crypto to money launder operations.

What You Need to Care About

• Colombia’s annualized inflation in February climbed to a surprising 8.01%, according to the National Administrative Department of Statistics (Dane), with a monthly variation of 1.63%, which was above market expectations.
• Colombians want to find ways to invest in short-term to avoid the price rise that has mainly affected the household, education and food sectors.
• Binance, an exchange that offers trading services like Binance, is keen to get into this market. This promises great growth opportunities in the coming years.

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