Best Bitcoin loan network
In last post we covered “How to Buy zcoin ?.’Today’s post is based on the Best Person to Person Bitcoin Loan Network (Bitcoin P2P Loans).
Suppose you are living in India and you want to see or talk your friend instantly who is living in the USA currently. Nowadays it is very simple. You just have to dial a Video call and that’s it.
Our memory thinking is faster than the lightning speed. At a time we are in India and just after the moment, we are thinking about the USA and imagining. Today all the thinks are faster than compared to previous eras.
This is all possible because of one term that is ‘technology’. Today you can cover thousands of miles within certain hours. Technology is the collection of techniques, skills, methods, and process used in the production of goods or services or in the accomplishment of objectives.
This all technology helps people to achieve their goals as soon as possible for their life needs. Although we as a human community we moved to a very fast valued world. But still, there are some factors that will make you feel slower like the previous eras. some such areas are education system, BANK loans, government selection and implementation all like this.
- 1 What is Need of Bitcoin Lending Loans ?
- 2 What is Bitcoin Lending Loans ?
- 3 How do Bitcoin Loan (lending) Networks Works ?
- 4 What is the verification process for getting a Bitcoin Loan ?
- 5 What are the Best Bitcoin loan Network ?
- 6 Best Bitcoin p2p lending platform in India
- 7 Best Bitcoin lending platform in Germany
- 8 Problems with P2P Bitcoin loan websites
- 9 Conclusion
What is Need of Bitcoin Lending Loans ?
If you want to take a Bank Loan from a Bank then you will have to rash your feet. After Several verification, Documentation, lots of investment guarantee it almost takes 50 to 60 days to sanction a loan. Also, there is no guarantee that your loan will be passed. Here also the possibility percentage is low.
In this scenario, small financial agencies such as Lenders come into play. They need returns on their investment and deposit.
What is Bitcoin Lending Loans ?
Rather than getting a Bank Loan from which takes month and month for the clearance, You can borrow funds from cryptocurrency exchanges in an easy way. There are few exchange platforms that will offer you bitcoin lending or a bitcoin loan.
Nowadays it can be seen that bitcoin loans have beaten the old lending strategies and ideas. In this method, users are allowed to lend or borrow Bitcoin in a rapid way and users can also create their own individual bank that helps cryptocurrency platform.
How do Bitcoin Loan (lending) Networks Works ?
You can lend and borrow Bitcoin immediately. you can get your Bitcoin loans from lenders. The lending networks are sponsored by Bitcoin economy. Here lenders choose their interest rate on which you can get your Bitcoin Loans.
No processing fee is charged to lenders as well as to the borrowers and by this economic system, Lenders get their interest rate on their given amount of loan. Also, Borrowers can take the cheap and small amount of loans which they can afford.
It is done easily by Peer-to-Peer lending. These processes are an advantage for Bitcoin Technology. It is done in a smart and easy way.
What is the verification process for getting a Bitcoin Loan ?
Step 1: Registration on a Bitcoin lending platform
- Identity verification
- Income verification
- PayPal verification
- Social media verification
- Personal References
- Seller account verification
Step 2: Choosing your Bitcoin Loan
- After the registration check the suitable type of Loan according to your needs.
- Check the interest rate of the loan on the exchange platform or directly with the lender.
Step 3: Getting the Approval of your Loan
- After the selection of your Bitcoin Loan, you will get the confirmation within few hours.
- It depends upon the type of documents that are provided by you.
- If there is a lender in the system who is already listed and ready to lend at suggested terms you Bitcoin Loan will be Sanctioned immediately.
- After your Bitcoin Loan has been Sanction you can receive your funds from anywhere in the world.
What are the Best Bitcoin loan Network ?
We will go according to some countries so that you can decide which platform is suitable for you in your country.
Best Bitcoin Loan platform in the USA
Kiva has given a unique idea in the Bitcoin loan market. The main goal of this platform is to take the edge of poverty.
It is a US-based non-profit organization. The founding year is 2015. Total numbers of lenders on the platform is 1.382 in 83 countries.
They don’t charge interest rate fees as a platform. In just 5 years, Kiva has distributed over $240 million borrowed by more than 620,000 people around the world and From the total borrowed amount only 1.60% are fully paid back by the borrower.
The work is format is very interesting. They work on field partners method by combining many microfinance institutions. For the people of Egypt, Bolivia, where people are unbanked KIVA, will be a good option.
Lending club is the most famous Lending platform among all US lending sites. The Return on investment (ROI) is very high on the platform. ROI’s percentages are 13.3%, 11.30%, 10% respectively.
Average investors can get ROI up to 6% to 8% which can be little sad as compared to the professionals. Lending Club also allows you to invest $25 per investment which makes it possible to further transform a smallish investment total.
Other US Bitcoin Loan sites are:
- Peer form
Best Bitcoin p2p lending platform in India
In India, financial agencies are very few and strongly managed. The returns on Indian exchange platforms are very low. The return on peer to peer lending sites like I-lend brings the change. It brings the profit investment rate of approximately between 16% to 20% on average.
Also, note that peer to peer lending is still unregulated in India. Which means that lenders have much risk compared to other countries.
fees for lenders on i-lend are 1.5% of the invested amount. p2p lending clearly has a huge amount of potential in India.
Rajat Gandhi is the founder of Faircent. The Founding Year is 2011. The main aim of the platform is to provide credit on demand for all Indians.
Faircent is providing around $2.50,000 to creditworthy borrowers to over around 2,500 lenders and in India, 80% of people are not able to take a loan from Bank so this platform can be useful for that people.
Faircent has processed over 300million Indian Rupees, around USD4.6million. percent boosted the average interest rate up to over 20%.
Best Bitcoin Lending platform in Europe
Bondora is also an interesting platform for peer to peer lending sites and it has the high yield returns for the 9,000 plus investors who have signed up.
Best Bitcoin lending platform in Germany
Currently, Auxmoney is Germany’s Biggest peer to peer lending site. It has reported the total finance around 32,000 loans. Auxmoney approximately equals to more than €180 million. The founding year is 2007.
Although it has the low loan volume in a comparison to US counterparts, Auxmoney is the most dominant regional P2P lending platform.
Investors can expect to pay 1% of their invested amount as a fee to Auxmoney, while borrowers pay €2.50 a month plus a one-time fee, 2.95% of the total borrowed amount.
Returns for lenders average is 6.7% per annum.the range of investment is between €3,500-€4,500 also, Aux Money has an acceptance rate for borrowers of 20% meaning that only 400 of the 2000 daily applicants are accepted and are allowed to publish a loan.
Bitbond is a Germany based peer to peer lending platform. It is for small-medium enterprise and entrepreneurs. It is a registered, approved, German government regulated lending platform.
Bitbond offers Antinvest tool and Using this tool bigger investors can set clear investment parameters and after that, they can do their investment process.
The average interest rate on Bitbond currently stands at 25% and you can invest as little as $2.50.
Problems with P2P Bitcoin loan websites
There are several options for P2P Best Bitcoin loan network available in the market and they will provide you Bitcoin loan but at profitable fees rate.
Most of the Borrowers had a bad track record regarding the repayment of the previous loan. Many people apply to borrow bitcoin loan have been rejected due to the bad track record for not repaying the loan taken from banks and credit unions. As they have a bad credit rating so they cannot apply for Bitcoin loan.
If you believe in rapid growth and doing something special in Investing market but you are not able to qualify the bank loan requirements than Bitcoin P2P loan will be a great option for you. It takes some hours to confirm tha Loan. In order to that, it does not take that much time as compared to a bank. Also, you will get the loan at a cheap interest rate.
That’s all for the Best Bitcoin loan network. I hope you like this post and Please share this post with your friends and family and if you are facing some issues regarding Best Bitcoin loan network than please let me know in the comment section.
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