Get 1 bitcoin loan
When you want to borrow on Bitbond you only have to get 1 bitcoin loan 3 steps. Follow them through and you will be a happy borrower in no time. Especially compared with the lengthy process when you go to a bank. Registering is the easiest step. Get 1 bitcoin loan your name, your e-mail address, your phone number and select a secure password. A secure password is very important because you have to treat your Bitbond account like you would treat an online banking account.
Get 1 bitcoin loan you completed the first registration step you receive an e-mail which asks you to confirm it. Again, this is important because your e-mail address is also your username. You will always log in to Bitbond with your e-mail address. Basically there are a few data input forms.
The first asks you to submit personal details like your complete name, date of birth, citizenship etc. Afterwards you are asked to connect your accounts. The more accounts you connect during the application, the bigger chances you have for a higher rating.
Afterwards you will have to provide your employment info and contact details. This is one is crucial to your rating because the more trustworthy and verifiable your statements are, the better your borrowing terms get. In this regard, when you want to borrow, a loan actually does have something in common with a bank loan.
Your details are just as important. When your borrower role on Bitbond is unlocked, you are ready for the third step. You will see the following form.
Select over which term you would like to borrow and the loan amount you want to borrow. Note that a 6 weeks loan is the shortest one. Afterwards, you will have to state the purpose what you want to a loan for. If you are not sure which category fits best, read the description under each category. Next comes the description filed of the form. Let your lenders know what you need the funding for.
You have a maximum of 1, characters for the description. However, the best thing is to be brief and to the point. The more specific you make your description, the easier it will be for lenders to decide if they want to invest in your project or not. Investors are cautions and they should be.
So provide some background information. The best thing you can do is give a reference about a website of your business. When you filled everything in, there will be a confirmation form. Check your everything carefully and look over the payment schedule to make sure you have selected the right amount and the right term for your loan. Please click on 'Next'.
In the next step you will be able to select your payout method Note: Please be aware that this step is only available to users in the SEPA region. Users that select bank account will have their loan automatically disbursed to their bank account. We recommend this option in order to avoid Bitcoin price fluctuations. The final step of your borrower application will display your loan contract.
You will have to sign it digitally. After that you will be able to publish your loan on Bitbond by clicking on 'Submit loan request'. When your loan is funded the auction is over. This helps you to fund your account on time before a payment is due. Contact Us Contact Us. Borrow on Bitbond in 3 steps When you want to borrow on Bitbond you only have to complete 3 steps.
Get 1 bitcoin loan as a Bitbond user Registering is the easiest step. Submit your personal and financial details Basically there are a few data input forms. This is how the personal data input form looks like: The last part is your identity video verification. When you go to a bank you would also need to show your ID. With Bitbond, you simply have to go get 1 bitcoin loan a video identification process with a security agent.
In order to do so, you need to have a valid passport or ID for European citizens and drivers license for US citizens. Also, make sure to have a device with good Internet connection get 1 bitcoin loan a web camera. This could be your laptop, tablet get 1 bitcoin loan mobile phone. Get 1 bitcoin loan sure that your proof of residence document this will typically be a utility bill or a mobile phone bill has been issued within the last three months.
Once you finished the data input we will conduct the rating, unlock get 1 bitcoin loan account and inform you by e-mail.
We help bitcoiners to get money without selling BTC while helping investors to make higher returns. Our aim is to match bitcoiners with investors efficiently. Instead of selling BTC, earn a substantial return because BTC rate appreciation is higher than interest rate on a loan.
Apply for a loan on your own terms. Set up an amount, a period, an annual interest rate and payment options. Your BTC collateral is stored using a Multisig-address. No-one can get access to it without your agreement. BTC rate appreciation in 1 year is 8 times higher than the average annual interest rate for a loan. Choose the loan terms: Create Public and Private keys to get access to the collateral or upload your existing Public key.
Keep your Private key until the end of the current loan period. Transfer the necessary amount of BTC to get 1 bitcoin loan transit address. After that your loan application will appear on Biterest. Until a lender accepts your application, you will be able to refuse your loan application and retrieve your BTC.
Your loan get 1 bitcoin loan is accepted by a lender. Biterest creates a MultiSig-address using your Public key, your lender's Public key and own one. You have to repay the loan and interest until the end of the loan period. After that you will receive the necessary keys to get access to your BTC collateral which is stored on Mulrisig-address.
There will be no reason to have get 1 bitcoin loan fiat currencies. The fact that within the Bitcoin universe an algorithm replaces the functions of the government is actually pretty cool. I would like to Borrow money Invest money. It only requires your e-mail address. What investors are saying about Bitcoin. In which currency can I receive a loan? When get 1 bitcoin loan a loan application, you can choose the preferred currency for you. Biterest allows placing loan applications in more than 60 currencies.
What amount of Bitcoins do I have to transfer as collateral? To protect borrowers and lenders from the short-term volatility of BTC, the amount of the collateral in Bitcoins depends on the discount rate. By increasing the discount rate, the amount of Bitcoin collateral required is also. But increasing the discount rate, you reduce the risk of Margin Call. A borrower can modify the discount rate of each loan application by themself.
Who will be my lender? Biterest is a peer-to-peer P2P platform which connects two independent users. Biterest doesn't lend or borrow money itself. Your lender will be an investor who is looking to give a loan secured with high-quality asset as Bitcoin. How can I receive money from a lender? There are available the following money transfer options: The transfer options are defined by you upon placing the loan application.
Money transfer fees are covered by the sender of the payment. What interest rate will I pay for borrowing money? The loan period and interest rate are defined by borrowers. These are specified when placing the loan application. Lenders then choose loan applications which match their investment expectations. Where will my Bitcoins be stored? Collateral Bitcoins are stored using a Multisig-address which requires at least 2 keys to get access.
No-one is able to use them until the end of the loan period. Each of the three users you, your borrower and Biterest owns only one neccessary key. After repayment get 1 bitcoin loan the loan, you will automatically get keys get 1 bitcoin loan the collateral.
What will happen with my loan if BTC rate falls sharply? If the initial market value of collateral decreases by the discount rate, Margin Call will occur. The loan period will be end and the loan application will close automatically. In this case your collateral will be transferred to the get 1 bitcoin loan and your loan obligation will be terminated. Read more how biterest works Read more.