Agrocoin | The Mexican cryptocurrency backed by the habanero pepper

Agrocoin | The Mexican cryptocurrency backed by the habanero pepper

Mexico represents a wide variety of options for agricultural production, such as corn, chilies, avocado, wheat, among others. For Mexicans, the habanero pepper is one of the spiciest in existence, and is essential for Mexican cuisine. There are many companies that market and harvest habanero peppers; and the company Amar Hidroponia was the first to create an agricultural cryptocurrency based on the commercialization of hydroponic habanero pepper.

Amar Hidroponia was born three years ago to promote the Mexican countryside and currently has 120 hectares of land, 50 of them in production and 80 in process. Amar Hidroponia visualizes an ecosystem where people from all over the world can participate in agribusiness projects in Mexico and the Americas. That´s why Rodrigo Domenzain, managing director of Amar Hidroponia, created a new cryptocurrency called “Agrocoin”.

Agrocoin is an investment model that thanks to Blockchain technology and smart contracts, allows the investor to participate in the profits generated in a Production Unit of Habanero Pepper. Because “each token represents one square meter of crop”, mining would not be an activity related to Agrocoin. The value of this cryptocurrency is based on the production and sale of these chili peppers.

“Today we only have 5 hectares for Agrocoin, but up to date 30 new investors are integrated. Those who come to invest can do so with only 500 pesos (around 25.5 dollars) and will have a revenue of 170 pesos ($ 8.7 dollars) per year, ” said Domenzain.

Suitable for all types of investors

In the words of Domenzain, this investment is affordable to anyone who is interested in a type of productive asset that can guarantee a return. Armando Navar, public accountant, is one of these investors. He bought a few square meters of land in Cancun, Mexico to obtain a yield through the production of chili. In exchange for his capital injection he received Agrocoins. Navar thought it was a good investment, because there is a productive asset behind this virtual currency: the Habanero pepper.

“It’s not speculation. The word “cryptocurrency” is just a name” says Navar. Before making the decision to invest, the accountant traveled to the state of Quintana Roo to know the planting area and how the project was progressing. Due to the many frauds that have been committed in the crypto world in so many different ways, people should be alert to most of the investment opportunities that are offered.

“I needed to know if the company I was going to invest existed, if it was set up and how feasible it was to offer me those returns,” says Navar.

The Agrocoin is aimed at small investors, and those who wish to participate in this business model must register on the platform Then they must wait for an agent to be contacted who evaluates and makes a plan to integrate them into the investment model. Amar Hidroponia expects to sell 500 million pesos (almost $ 26,000,000 dollars) in Agrocoins.