how TEAM Cereal works to prevent criminals from borrowing mining equipment
I think they will have some security procedures inorder to prevent criminal from borrowing mining equipments. First of all they will only provide 50% of the assets amount i.e if your asset costs $100, they will lend you fiat upto $50. So in case if anyone has a second thought they will end up cracking themselves. Secondly borrowers will have to comply with all the conditions of KYC and AML, that’s why every client applying for a loan passes preliminary identification. 
Topic: [ANN] [ICO] CEREAL - BLOCKCHAIN ECOSYSTEM FOR ASSET-BASED LOANS - page 2. (Read 1334 times)
What is the process for applying for a loan ? Will there be necessary for passing KYC?
Hello! Good question)
The process of obtaining a loan takes less time compared to the procedure for obtaining ordinary bank loan products as there is no scoring procedure. But we comply with all the conditions of KYC and AML, that’s why every client applying for a loan passes preliminary identification.
Best,
CT.
Loans on blockchain is rather popular topic. Many people need loans. It was such project as Suretly with loans on blockchain. It was saccessful. I wish you good luck.
We are now at the Marvels blockchain conference in Korea, where Cereal is represented by our CEO Sergey Vart!
Thank you Penny ! Go , Cereal !
Best
CT
Will there be any other partnership in the future? I'm aware that Cereal has partnership with Gigawatt but if there will be any other partnership with other mining companies?
What am I reading?
Installment loans for mining equipments??
While there is always such volatility in value of crypto currencies how will this work without a fixed price?
Installment loans for mining equipments??
While there is always such volatility in value of crypto currencies how will this work without a fixed price?
Hi!
Hello! What do you mean by “without fixed price”? At first since the product is released, we will consider mining equipment for BTC as collateral. Later we will expand the range of miners that can be used as collateral. If calculations will show the profitability of other miners, we will provide the installment service for them.
Best,
CT.
What am I reading?
Installment loans for mining equipments??
While there is always such volatility in value of crypto currencies how will this work without a fixed price?
Installment loans for mining equipments??
While there is always such volatility in value of crypto currencies how will this work without a fixed price?
Cereal's has an automatic solution for calculating maximum loans that meet the requirements for customers, and no need to check the client's credit value. This makes Cereal very convenient and hassle-free for borrowers.
What are the challenges on the cryptolending market? There are some other companies that provides a loan based on assets too.
Hello!
One of the main challenges is uncertain legislation. In many countries there is still no established legislation and many details need to be taken into account. But we have already worked with credit products before and know how to work in over-regulated market.
Best,
CT.
What are the challenges on the cryptolending market? There are some other companies that provides a loan based on assets too.
On the forum I faced a couple of similar projects. But it similar only on the first sight.
For instance - SALTlending and Unchained Capital works of the same basis but i think Cereal has some more advantages or else making a new project makes no sense at all. Centralized loans secured by cryptoassets. This loan type is similar to the model of lending to institutional financial companies, companies with this model earn on interest rates from the loan.
But the main difference of Cereal is: - they intend to give loans for your miners as collateral.
What are the challenges on the cryptolending market? There are some other companies that provides a loan based on assets too.
Read WP - they described a lot in the document.
What is the process for applying for a loan ? Will there be necessary for passing KYC?
Hello! Good question)
The process of obtaining a loan takes less time compared to the procedure for obtaining ordinary bank loan products as there is no scoring procedure. But we comply with all the conditions of KYC and AML, that’s why every client applying for a loan passes preliminary identification.
Best,
CT.
How can i borrow loans using my assests? Will i get money in terms of the currency i use or other currency?
HI!
Hello there. Cereal offers affordable loan options in the client’s region. Loans will be available in the currency of the client’s country, as well as in the international reserve currencies, depending on the conditions of national regulation of foreign currencies.
Best,
CT.
This name makes me hungry for a reason.. :O
I start my day with Cereal too Best
CT
Between how will be the loan amount and monthly payments be tracked?
Hi, After the client transfers his assets to Cereal as deposit, we transfer the fiat money to the client’s account. Information about monthly payments and the current loan status is shown in the client’s personal account. The client can make monthly payments using the service of the Cereal partner - a financial institution operating in the region of loan issue. After full loan repayment, the deposit is returned to the client’s wallet.
Best,
CT.
This name makes me hungry for a reason.. :O
I start my day with Cereal too Best
CT
Between how will be the loan amount and monthly payments be tracked?
What are the challenges on the cryptolending market? There are some other companies that provides a loan based on assets too.
how TEAM Cereal works to prevent criminals from borrowing mining equipment
What is the process for applying for a loan ? Will there be necessary for passing KYC?
How can i borrow loans using my assests? Will i get money in terms of the currency i use or other currency?
Just read about the project in an article but not much of informations were provided. I would like to know what do you consider as collateral, as it's mentioned " collateral to access loans in fiat currency"?
Collateral means crypto assests. They will lend us money in terms of loan by which we can purchase mining equipments and in return we have to store our crypto assests with them.The cryptoassets will be returned to investors as soon as the loan is repaid. Jump to: