Borrow or Lend Crypto with Bitbond

Cryptocurrency services are mostly based on exchange (buying and selling). On the other hand, Bitbond introduced a platform that offers a different type of service in the crypto world.

Bitbond is a Berlin based peer-to-peer (P2P) company. The platform offers small business loans to borrowers. The company is incorporated in Berlin, Germany and is a fully regulated financial institution with its own license. What sets Bitbond apart from other P2P platforms is the fact that it utilizes the bitcoin blockchain for all payment transactions.

The Process

Bitbond lets investors diversify their portfolio by investing in bitcoin loans throughout the world. Borrowers receive low interest loans with favorable terms and get the satisfaction of obtaining a loan without the need of a bank.

The first step in Bitbond’s lending process is to perform a credit rating of all borrowers. Bitbond’s rating goes from A (the highest) to F. Once rated, borrowers list a project on the marketplace. Investors then choose which listings they are interested in and lend as little as BTC 0.01 per loan. A listing has a maximum of 14 days to receive funding, but the auction will end as soon as the amount requested is reached. Loans are funded as long as investors fund 60% or more of the required amount. Borrowers can have a maximum of one loan at a time. A contract gets made between the borrower and the lender (or lenders) to borrow a specific amount of Bitcoins. The loans can have a duration between 6 weeks all the way up to 5 years. The borrowers get a rating before they are able to publish their loan request.

To get a rating they need to verify their identity, the rating is also based on their financial assessment. To be able to get funded, the loan request is published in the Bitbond marketplace where lenders can place bids during an auction. The loan request is up on the marketplace for up to 14 days. Both borrowers and lenders get a payment schedule that will be displayed in their member’s area and personal account after an auction has finished successfully.

Can you make a lot of money?

You can of course make good money with this, there is no limit, you can invest as much as you like. The return rates are good at Bitbond, and more importantly, this is a way for you to add another passive income stream to your arsenal. You can never have too many of those. Most important and the best thing: this isn´t some “magical super-secret loophole” or any form of HYIPs and Ponzi’s.

CONCLUSION

Bitbond’s approach to cryptocurrency service is quite unique. You can either register as a borrower or as a lender (investor). In either cases, Bitbond’s mission is to make investing and financing globally accessible. Everyone gets a good treatment to achieve their various goals.

Click here to visit Bitbonds website and become a borrower or a lender today.

Make sure to subscribe to the website and never miss a cryptocurrency update

www.CryptocurrencyAltcoins.com