Welcome dear readers. I am always happy to share with you new ideas and startups from the world of cryptocurrency. They are created in order to facilitate our life with you, and to change the world in the future.
Credit products have always been the driving force behind market growth. They contribute to a faster pace of business expansion, in the global sense, contribute to improving the living standards of consumers. However, in the cryptocurrency market of credit instruments practically does not exist. Market participants do not have access to convenient credit solutions that can improve business development - this slows down the growth of infrastructure in the region.
"In the crypto-currency market, there are no loans secured by assets in principle. Today, cryptocurrency owners and associated resources often have to choose between keeping their investments and withdrawing them into Fiat money to cover day-to-day financial needs or operating costs of mining equipment, expanding their device fleet and maintenance »
Cereal's credit solutions solve this problem. The following improvements in the cryptocurrency market infrastructure will increase the pace of development within it and help it reach its potential.
Cereal is a platform that offers credit products secured by clients ' mining equipment, cryptocurrencies and other blockchain assets.
Thanks to Cereal, borrowers can not sell their valuable blockchain assets to get Fiat. Instead, they can provide their crypto assets as collateral to get cash and cover their business and life costs.
In comparison with Bank lending, the approval process will take less time, since Cereal excludes the scoring procedure. The platform uses automated calculation of the maximum amount of available credit for customers.
After registration, Cereal customers will be able to choose the terms of the loan: the Deposit amount, the loan term and the country in which they want to receive Fiat money. Next-get instructions on how to make a Deposit and withdraw Fiat money. The Deposit will be stored in the Cereal on "cold wallets", which guarantee a high level of security. The platform is going to automate the processes of storage, return and sale of Deposit assets with the help of smart contracts.
The platform will offer several credit options, including credit cards and credit lines for business. In the first case, after the Deposit is transferred to the platform, customers will be able to receive the card by courier service or at the offices of the partners of Cereal. You can withdraw money from ATMs or branches of the company's partners. Credit cards have a grace period, during which you can return the funds to the account without paying interest.
The line of credit will fit for a business that receives income in the cryptocurrency - cryptowall exchange, companies that conduct ICO, maineri. The peculiarity of the credit line is the increased amount of available credit in comparison with the collateral for individuals.this makes it possible to cover all operating costs that may be charged an additional fee with Fiat money - the purchase of new equipment, business expansion and wages.
To enable customers to receive Fiat on the security of mining equipment, Cereal cooperates with GigaWatt - one of the largest mining companies in the United States. This cooperation is beneficial to customers who want to access the cryptocurrency mining, but do not have sufficient assets in Fiat to pay for mining equipment. These customers can get loans secured by mining equipment that they purchase, thereby reducing the amount of funds in Fiat required to start.
Mining equipment will serve as collateral and will be placed on the GigaWatt hosting, so customers can earn money during the repayment period of the loan and after it.
"Cereal uses blockchain to optimize a complex, often biased scoring procedure, providing a high level of security and trust between cryptocurrency market participants. Using the platform, the Cereal we are going to create an ecosystem of high quality, affordable loan products for cryptopine »
Cereal brings together all the participants so that everyone benefits from using our product:
Borrowers get access to cash
Financial companies benefit from higher loan rates or interest income if they provide loans with Cereal
Investors will receive a new tool for resource allocation
Sellers will be able to find new customers by presenting products on our platform
According to the founders, Cereal is not a revolution, but rather an evolution for the credit market. Around the platform, an ecosystem is being formed in which cryptocurrency owners, financial organizations, investors, retailers and manufacturers will interact with each other. Some will be able to receive loans, and others - to invest in the issuance of loans to borrowers and earn profits. The Cereal token will become the basis of a universal loyalty program for all participants. Today Cereal has completed private pre-sale token CRLs.
Cereal has automated solutions for calculating the maximum credit to which customers are entitled, and does not need to check its creditworthiness. It makes the Cereal incredibly comfortable.
I consider only interesting and promising projects. I advise everyone to look at it. A fresh idea, a good approach, a strong team - all this speaks about the seriousness of the project.