Bitbond - The First Serious Blockchain Lending

In the world of finance, the concept of blockchain technology and cryptocurrency is still in its infancy. However, both of them attracted the attention of the community around the world and created new opportunities.

One of these opportunities is lending using digital coins. Blockchain-supported cryptocurrencies are now used to provide fast loans throughout the world. That's not all. Platforms also offer people the opportunity to invest their coins and earn interest.

One of these credit platforms is Bitbond. This Bitbond review is a comprehensive analysis of the peer-to-peer lending platform. Let's see how it works, consider the advantages of the project and its STO.

What is Bitbond?

Bitbond is a peer-to-peer online lending platform that allows users to invest or borrow fiat or bitcoin currencies. Investors use a platform for lending to borrowers who want to upgrade their businesses.

Bitbond is operated by Bitbond GmBH, founded and registered in Germany in 2013. This registration means that it complies with the German and EU rules on combating money laundering (AML) and uses KYC.

Bitbond provided a place to exchange for cryptocurrency and fiat currency. On their website, they indicate that their services are characterized by speed, human interaction and simplicity.

In addition to impressive customer service, it is expected that high ROI will help Bitbond grow rapidly. If you put money into a savings account of a US bank, the average percentage is about 0.6% per year. However, Bitbond offers interest rates from 10% to 30%.

The ability to make a big profit forces investors to move from ordinary banks to peer-to-peer lenders, such as Bitbond.

How does Bitbond work?

The lending process begins with the fact that Bitbond sets its own credit rating, which ranks borrowers from class A to F. Class A implies a low probability of default, while F implies a high risk of default.

After assigning a rating, the borrower publishes a project for review and funding by interested investors. Below is the complete loan application process.

Register as a Bitbond user
This is the first and easiest step. You just need to visit the Bitbond registration page and fill out a form with data such as name, phone number, email address and note the need to get a business project. You also need to confirm registration by mail.
Providing personal and financial information
This is probably the most important step, because it determines the credit rating. It is reasonable to provide the correct information, because Bitbond will recheck the details. Some of the items of information currently required include date of birth, citizenship, and proof of residence.
For registration application will need to verify identity. This will require a valid ID, such as a passport or driver's license. You will also need a mobile phone, laptop or computer with a camera and good internet.
For further credit assessment, you need to connect your Bitbond account to another account, such as Facebook or Amazon. The more accounts a user connects, the easier Bitbond will calculate the correct credit rating.
Posting a request for a loan
After checking and evaluating, you can post a request for a loan so that interested investors can finance it. On a Bitbond account, you just need to click the "Get Credit" button to get another form, specify the amount and purpose of the loan.
To make it easy for investors to support the business, the user is recommended to give a vivid description of the company to be financed. Consider providing additional information, such as a business website and the latest results of your business.
Finally, you need to confirm the repayment method and submit the form so that available investors can see the details. After the loan is financed, the repayment schedule will be sent to your Bitbond account and also sent to your email address.

Project security

The Bitbond development team sought to get rid of the negative reputation of peer lending by making transactions open and transparent. The company seems to be on its way to proving to the community that it is a reliable partner.

The following are some of the positive aspects that make Bitbond safe and reliable:

Bitbond is a registered company with staff and a physical office.
One of the reasons why cryptocurrency-related enterprises often lose community trust is that they work as anonymous companies. Whether it is a credit platform or a cryptocurrency, investors always ask: “how would I file a complaint in case of loss?”
Bitbond solved this issue by opening a physical office in Berlin, Germany. Just as you can enter the bank and talk to the staff, you can talk to representatives of the company Bitbond in their Berlin office. It helps people relate to the company and develop trust in it.
The company conducts due diligence of borrowers.
To reduce the risk of borrowers defaulting on loans, Bitbond conducts due diligence to establish the solvency of borrowers. This includes data verification, especially on borrowers' employment, repayment capability, and location. Bitbond goes further to evaluate borrowers, so that lenders can only choose those that are creditworthy.
Defaulters risk getting into the Credit History Bureau.
Although Bitbond indicates that it does not look at the credit rating of borrowers when approving loans, those who do not fulfill their loan repayment obligations are reported to credit reference agencies. Firstly, these are agreements with collection companies for the recovery of borrowed funds and penalties. The money goes to repay investors.
They are then transferred to the credit bureau. Since this increases the risk of losing the opportunity to get a loan in ordinary banks, borrowers make every effort to repay loans.

Pros

Loans are financed by investors;
Few and transparent expenses;
The credit rating is not a factor for credit approval;
Simple online application;
Fixed interest rate;
No penalties for early repayment.

Token Information and STO

Bitbond Token (BB1) is the first security token in Germany and makes business lending available worldwide.

Target income is 8%. This follows from a fixed 4%, there is also an interest coupon and high participation in profits in the share of 60%. BB1 token attracts investors because of the high percentage of profitability, and also because it is the most stable token, being regulated by the jurisdiction of Germany.

The token issuer is Bitbond Finance GmbH, a company wholly owned by Bitbond GmbH. Bitbond is the first cryptocurrency credit platform for business loans, which operates worldwide. Founded in 2013, Bitbond now facilitates more than $ 1 million business loans every month.

Bitbond Conclusions

This Bitbond review has demonstrated that it is an elaborate and well-implemented platform that aims to redefine peer-to-peer cryptospace.

The cryptoindustry finally realizes that, although the majority of peer-to-peer credit platforms have turned out to be fraudsters, good ones still exist. The fact that Bitbond has been operating for about eight years has an operating office and simple operational procedures, which means that you can trust it either for borrowing or for investing money.

What is even more impressive is that Bitbond's default rate is about 13%, which is still one of the lowest in the market. Indeed, investors may experience even lower rates if they adhere to AF class borrowers.

ACCURATE INFORMATION

WEBSITE: https://www.bitbondsto.com
TELEGRAM: https://t.me/BitbondSTOen
LIGHTPAPER: https://www.bitbondsto.com/files/ bitbond-sto-lightpaper.pdf
PROSPECTUS: https://www.bitbondsto.com/files/bitbond-sto-prospectus.pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=5130337.0
FACEBOOK: https: //www.facebook.com/Bitbond/
TWITTER: https://twitter.com/bitbond
MEDIUM: https://medium.com/bitbond
REDDIT: https://www.reddit.com/r/BitbondSTO/
Instagram: https://www.instagram.com/bitbondofficial/
YOUTUBE:https://www.youtube.com/user/Bitbond

AUTHOR

Username BTT : Ris88
Profile BTT : https://bitcointalk.org/index.php?action=profile;u=742331
WALLET ETH : 0x2CF4F93348116B2Ce67Ecb7A9eA57E10Bf0f81A2