Hi everyone
We are working on a solution aiming at offering lombard loans in fiat currency against bitcoins brought to an exchange as collateral.
Considered LTV: 40-50% of bitcoin value (USD 10'000$ worth of bitcoins would allow a loan of 4-5000$)
Considered Interest rate: 4-5% per annum
Exchange: Established Western exchange enabling to access and trade your collateralized bitcoins anytime. BTC Withdrawals won't be allowed during the course of the loan.
Loan: Proceeds can be used for crypto trades on the exchange or sent to any bank of your choice.
Based on these conditions, what percentage of your bitcoins could you potentially bring as collateral for a loan ?
Thanks a lot for your feedback.
Cheers!
We are working on a solution aiming at offering lombard loans in fiat currency against bitcoins brought to an exchange as collateral.
Considered LTV: 40-50% of bitcoin value (USD 10'000$ worth of bitcoins would allow a loan of 4-5000$)
Considered Interest rate: 4-5% per annum
Exchange: Established Western exchange enabling to access and trade your collateralized bitcoins anytime. BTC Withdrawals won't be allowed during the course of the loan.
Loan: Proceeds can be used for crypto trades on the exchange or sent to any bank of your choice.
Based on these conditions, what percentage of your bitcoins could you potentially bring as collateral for a loan ?
Thanks a lot for your feedback.
Cheers!
The interest rate is good and not bad. That is actually a good deal and a win for the clients who would like to avail of your loan. But I just want to say that if you are really giving away loans and offering it to the public you must create some security protocol so as the one who made a loan will surely pay. There are many people on the net will apply for loan and they will submit necessary documents but after making the loan they will not pay and it is hard to locate them and make them face legal court since they are widespread all over the world.
