In March 2021, the new generation of mobile encryption bank MinePlex launched a product called MinePlex Marketplace. This market allows users to immediately purchase products they cannot afford through a simple commodity mortgage.
Suppose you want to buy the latest iPhone or MacBook Pro, but it is too expensive now. Purchasing through commodity mortgages can solve this problem. In this article, we will take a closer look at commodity staking and how it solves the problem of making high-end consumer products more affordable.
What is a bet?
In the field of cryptocurrency, bet It is a way to invest in new blockchain technology, coins, tokens and currencies. Investors agree to commit a fixed amount for a fixed period, usually when investing in new coins or tokens. Crypto and blockchain startups launch these tokens through private and public token sales (e.g. ICO), usually raising millions of dollars to fund future growth roadmaps.
However, unlike crowdfunding, equity or debt-based angel investment, and venture capital for startups, crypto investors almost always get a return by collateralizing a certain percentage of the investment required. Crypto investors do not need to wait for the startup to achieve an exit event or at least start to make a profit before they can reap a return on their initial investment and any subsequent investments.
When crypto investors “collateralize” cryptocurrencies, tokens, or blockchain-based startups, they usually provide a series of rewards for those who contribute to the startup capital. Generally speaking, the more investors invest and the longer they hold shares, the higher the level of return they will receive.
Rewards are usually obtained through the so-called “stake pool”. Think of this as similar to a savings account that earns interest. As an investor, you will get a certain percentage of investment income over time, and as investment tools grow (such as tokens, coins, or blockchain-based startups), the amount earned should exceed the original investment.
Cryptocurrencies and other startups that use staking mechanisms make this investment work. The consensus mechanism called “Proof of Stake” is an integral part of the way startups or cryptocurrencies operate.
What is commodity mortgage?
Commodity pledge adopts the concept of pledge, but applies it in an innovative way. Let people use crypto-commodity mortgages to buy the products they want. You agree to invest a fixed amount of funds into a mortgage pool, and your reward is the purchase price of the product you want to purchase. This is an innovation of MinePlex, and users on MinePlex can start doing something now.
Now let’s take a look at how people are now using crypto commodity collateral to buy more and more products.
How to use crypto-commodity collateral to buy goods?
Using the same concept as staking in exchange for rewards, if the purchase price is too high for customers, commodity staking is an innovative new way to purchase commodities within a fixed period of time. You can only do this with MinePlex, which creates this exciting new staking-based purchasing solution for crypto users, providing shoppers with an alternative way to buy what they really want.
The new generation of mobile encryption bank MinePlex has opened up a market where registered users can purchase products through a simple pledge mechanism similar to investment-such as smartphones, computers, furniture, etc.
Imagine that you want to buy a mobile phone for $1,200. But you only have $500 to spare. Where did you get the extra 700 dollars? Borrowing money will generate interest, from 12% all the way to 50% or more! Makes anything you want to buy more expensive, the only advantage is that you can get it right away.
With commodity mortgages, you don’t need to wait to save or borrow more funds from your income. An additional $700 can be earned from commodity mortgages, and the new CrossFi MinePlex is groundbreaking.
Take the $1,200 smartphone as an example. This is how commodity mortgage works:
- Select the product you want on the MinePlex Marketplace (you need to be a registered user first): https://mineplex.market/
- Put 500 US dollars into the bet to earn enough remaining, and another 700 US dollars need to buy a mobile phone.
- Once staking has generated enough interest to pay the total amount of US$1200, the product is yours and will be shipped out.
It’s that simple! No need to borrow money to buy the products you want. More and more products are added to the MinePlex market every day.Enable anyone to use PLEX tokens (PLEX tokens) to pledge and purchase funds. PLEX tokens are
Although this means waiting for the end of the mortgage period, the more you invest, the shorter the waiting time. For a global community of 200 million cryptocurrency users, investors, and enthusiasts, commodity mortgages will make it easier to purchase high-end consumer goods.
“Commodity mortgage allows you to purchase products at part of the cost. After payment, you can withdraw the product at the end of the mortgage period. The lower the contribution of the product cost, the longer the pledge period, and vice versa”, MinePlex Said In a press release to Bloomberg.