The microcredit market was full of banks and large organizations seven years ago. But, since technology does not stand still, as a result, new, more modern sources of loans began to appear. For example, eBay, Uber, sales of goods, or provision of services are carried out here. Among other current trends, lending in the form of cryptographic coins has begun to stand out. About ten years ago, no one could have imagined that cryptographic coins would be in demand among a large number of people.
Coins provide an opportunity to bypass the difficult and expensive principle of providing certificates for the credit business, which boils down to implementing a system of international lending without luring basic financial institutions, as a result of which microloans can be made and money transferred much faster. Tell me, where can the user find a farmer from America or a businessman from China who will lend you money?
There are specialized lending platforms that provide cryptocurrency loans to borrowers. The two sides of the transaction are ordinary people who want their finances to work, and this requires a consumer loan. As a result of this process, the borrower creates an application for receiving funds, selects the required loan amount, gets acquainted with the interest and repayment terms, plus looks at the payment scheme.
The rest of the users agree to the terms of the borrower, after which they respond to the application, offering to give a set amount of bitcoins. Most often, this amount is less than the amount specified by the borrower.
Please note that several creditors can take part in one operation at once, there are no restrictions on the number. Each lender chooses for himself the amount that he can provide to the borrower. This approach allows, due to a large number of orders, to reduce the risks of losses to the minimum level.
Reducing the risk of non-return is formed on the internal credit lists of clients. The higher you are in the rating, the lower the percentage at the time of the formation of a new application, and the more lenders who want to borrow cryptocurrencies. Therefore, it should be remembered that the rating is the degree of trust in the user. The platform is calculated according to the following principles:
For some, cryptographic coins are something incomprehensible and unknown, but for those who are familiar with this element in the field of economics, they know that this is a unique opportunity to make money.
Over the years, the number of platforms for lending cryptocurrency as a peer-2-peer scheme has grown significantly. In general, the essence of the work of such platforms is the same, only there are distinctive features in the form of verification methods, interest rate, number of clients, monetization schemes.
But, the most popular are the following platforms for lending with a cryptographic coin:
YouHodler – is the leader among all existing platforms. The total amount of loans provided at the time of the site’s existence reaches $ 20 million. Borrowers take loans both for business ideas and for their own needs.
www.bitbond.com – is a marketplace offering loans for small businesses, loans to Ebey sellers and various online projects.
btcpop.co – is a kind of full-fledged cryptocurrency bank, which offers customers a full range of banking services, so whoever wants to borrow crypto coins can contact this bank. Moreover, the platform provides savings accounts.
loanbase.com – is a young project that has provided over $ 10 million in loans for two years of its existence.
It should be noted that in addition to these platforms, there are others, but this list is trusted among borrowers, therefore, first of all, we recommend paying attention to these sites. But, it must also be said that there are specialized forums where you can also borrow bitcoins. As an example, BitcoinTalk, the site has a separate section in which announcements of this kind are published. If we talk about security guarantees, the reputation of the user on the forums and reviews of other creditors are taken into account. Of course, with this method, the risks of not returning are higher, but the interest rate is also higher. And also, the advantage of such a loan is the absence of a service commission.
As for the question of which platform to choose for a loan, it is recommended that you initially try to cooperate with BTCJam. Thanks to this, you will get the experience of loans with cryptocurrency, you will understand the features of this way of earning. It is better to start with such sites since here the risk of getting caught by scammers is lower. This service also offers Russian-language information, useful articles, etc.
There are cases of non-return of funds online, respectively, everyone wants to protect themselves.
But, the problem comes down to the fact that the legal status of the cryptocurrency is very shaky. But, if the person is a US citizen, there is the possibility of attracting an unreliable borrower. In practice, one precedent is already known when it was possible to force a borrower to repay a debt in bitcoins through the court.
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