Bitcoin Forum

     Cereal is a platform offering credit products that are secured by customers’ mining equipment, cryptocurrencies and other blockchain assets.
Thanks to Cereal there’s no need for borrowers to sell their valuable blockchain assets in order to access fiat money. Instead they can secure their cryptoassets as collateral, in order to receive cash for the purpose of covering their business and living expenses.
Cereal will store its customers’ collateral in cold wallets, thus ensuring a high level of security and preventing bad actors from gaining access to the borrower’s assets.
Cereal’s has automated solutions for calculating the maximum loan that customers are eligible for, and doesn’t need to check client’s credit scores. This makes Cereal incredibly convenient and hassle-free for borrowers.

---

     Credit products have always been a driver of a market’s growth. They facilitate faster rates of expansion for businesses which, at scale, contributes to improved standards of living for consumers. In the cryptocurrency market however, credit instruments are almost non-existent. Market participants do not have access to convenient credit solutions which could enhance their business development - this is slowing down the growth of the infrastructure within the industry.

Cereal’s credit solutions solve this problem. The subsequent improvements to the cryptocurrency market infrastructure will increase the pace of development within it, and help it to reach its potential.






     To allow customers to borrow fiat money secured against mining equipment, Cereal has partnered with GigaWatt - one of the largest mining facilities in the US. This partnership will help those customers who want to get into cryptocurrency mining but don't have sufficient fiat assets to pay for mining equipment. These customers can access loans secured against the mining equipment they purchase, thus reducing the amount of fiat required to get involved. The mining equipment will serve as a collateral and will be located at the GigaWatt hosting facilities, earning money for them throughout the repayment period and beyond. This service is planned to start in July 2018.



     These outcomes demonstrate that purchasing two miners in installments is much more beneficial. From the first month, investors receive a steady net revenue that is higher than in the case with personal funding. After the loan is repaid by the end of the first year, customers start receiving the full income generated by their mining equipment.





Cereal unites all parties to make them benefit from our product:
Borrowers have access to fiat money
Financial companies benefit from better credit fees or interest income by providing loans in partnership Cereal
Investors get a new instrument to allocate resources
Merchants be able to find new customers by selling products on our platform


Our ecosystem is a mediator between the traditional fiat market and the young cryptocurrency market. The exponential growth of the cryptoasset market attracts new big corporate players and smart money.

Hi! Saw you guys at the conference in Dubai, I did not win a prize but still use your phone cable;) then I forgot to ask about your business model. If you do not have a p2p model, how are you going to raise money for loans?

   Thanks for the question.

   Great to hear, next time you will be lucky! Our platform provides an opportunity to qualified investors to invest their money into our loan products. Investors can get a high interest income compared with traditional debt instruments like government bonds, stocks and other security or different pools of mortgage loans, etc. Debt investments at the Cereal platform are secured by highly liquid cryptoassets. The investments attracted will be aggregated on the Cereal platform and used to issue a large number of different loan products, which will ensure diversification of investments and will also reduce risks for investors.

Best,
CT

Hey, what about crypto assets to be pay back, can I pay back my loan in crypto?

Will you be providing more information about your team members such as LinkedIn, Facebook, or Twitter profiles?

It would be a good idea to list this on ICOBench too if you haven't submitted it already

   Thanks for the question.

   We’ve decided to postpone our ICO date to the mid of summer after the first release of our product. As you know from White Paper this summer, some of GigaWatt customers will already have opportunity to purchase mining equipment by instalment. We will share with you every single detail about the first release of product.

Now our team is working hard on the product. It is important for us to be transparent and to show the evolution of our project! The exact date of ICO will be announced next week.

Best,
CT

Hello, the system will be built on a dividend basis or it will be only the holder of the asset, will there be any percentage for the retention?

   Thank for your interest in our project.
   You don't see Team's profiles only because of the restrictions of our forum rank - It will be fixed ASAP and you get access to all required information.

   Best,
   CT

Thanks for your question.

 If you take a loan in fiat money secured by ETH or BTC you should pay back in fiat money. If you use BTC as collateral to take a loan in EUR, you will make monthly payments also in EUR.   

In case if you buy mining equipment by installment you can make monthly payments both in fiat and using your mined cryptocurrency.

Cereal does not provide loans in cryptocurrency  secured by other cryptoassets because of the high volatility of the market and the difference in rates.  At the current level of the cryptocurrency market this product carries high risks for both the lender and the borrower. In the future, if crypto-market has some reliable cryptocurrencies with a stable exchange rate, which can be easily converted into fiat or used to pay for goods and services, Cereal will consider a new credit product in cryptocurrency.

Best,
CT

I like the idea of the loan based on cryptos, but if the market in it's down trand and my bitcoin loses the value or i can’t repay my loan? I mean, do I lose all my crypto in this case?

Hey!

Take a look please:

Sergey Vart
https://www.linkedin.com/in/vartsergey/ (https://www.linkedin.com/in/vartsergey/)

Lusine Arsenian
https://www.linkedin.com/in/lusinearsenian/ (https://www.linkedin.com/in/lusinearsenian/)

Ilya Vorobiev
https://www.linkedin.com/in/ilya-vorobiev-36965348/ (https://www.linkedin.com/in/ilya-vorobiev-36965348/)

Dmitriy Mikhaylov
https://www.linkedin.com/in/dmitriy-mikhaylov-28839a38/ (https://www.linkedin.com/in/dmitriy-mikhaylov-28839a38/)

Daniel Luzhentsov
https://www.linkedin.com/in/daniel-luzhentsov-95a921118/ (https://www.linkedin.com/in/daniel-luzhentsov-95a921118/)

If you have further questions or would like to join the community, you could also join the telegram group here: https://t.me/cerealico (https://t.me/cerealico)

Hope this helps!

Hi! Which currency you use for the loan? What exactly you mean by fiat? Only USD or all national currencies  - for instance - Can I get loan In GBP?

In case if you can repay the loan in fiat you can make a request to Cereal to sell part of the deposit at the market price in the equivalent of the debt. If the collateral value drops by Cereal level, we send you a warning that the deposit funds are insufficient. In this case you can:
Increase deposit to the level required;
Pay off a part of the debt to comply with the deposit amount or repay the debt in full;
If the first two actions are not possible, sell part of the assets in the equivalent of the remaining debt
If the deposit loses its value till the lower limit of the credit risk, we initiate an automatic margin call. Cereal sells deposit at a market price in order to repay the principal.investors and the accrued interest. The remainder is sent back to the Borrower.

I've just discovered your project and seems really interesting. As I understand for what I've read so far, there is no blockchain either?

Thanks for your question.

CRL is a utility token - users need to use services on Cereal platform to get the benefits. Just holding the token won’t give dividends or interest to the token holder.

Best,
CT

Hello! What happens in case someone fails to repay his loan regarding the mining equipment?will you them a little more time?

Thanks for the question.

Cereal clients can receive a loan in the national currency of their country or in one of the international reserve currencies, if regulation of country allows that. For fiat loans, Cereal will cooperate with local financial institutions according to the regional legislation, which will simplify loan process for Cereal customers and make it quicker and more transparent.

Best,
CT

Who do you consider the main users of your services? I have crypto-currencies, but I do not need a conventional loan.

Do you have anything for me?

hey good project

Thanks for the good question.

The blockchain will be used when we store the collateral, since the crypto currency is a part of the blockchain ecosystem, but we also have a part where we give loan in a fiat money,  which is not on the blockchain. Our service at the initial stage is partly based on the blockchain, as it is impossible to link the receipt of collateral on the blockchain through smart contracts and  the issuance of a loan in fiat.

We have a global vision, we want to completely replace the current inefficient system of financial interaction with a blockchain ecosystem. But at the current stage, there are a number of limitations, beginning with the technological ones ending with legal ones, which do not allow us to release  a common long-term vision now.

Best,
CT

How will you estimate your customers? If I have a bad credit rating can I take a loan? Any restrictions for borrowers?

Thanks for your question.

If a borrower misses a regular payment, we may:

1) place a maintenance request;
2) ask the client to repay the principal in fiat.
3) liquidate collateral partly by selling client’s mining equipment to cover principal and interest.

In any case, we will keep the client informed and make sure that all actions take place in accordance with the terms of the contract.

Best,
CT

You lead by Cryptonomos and I know they are very serious business providers. They have been leading a lot of projects and reached the top.
what sources can give us information about your partnership with Cryptonomos? Does your team participate in international conferences?

Hello Cereal! Why do you call yourself like flakes my Kids eat every morning? I Find this funny and confirming a bit :)

Thanks for the question.

We have smth for every our customer.

For each client group we develop convenient loan products - credit cards, lines of credit for business, purchase of equipment for mining in instalments with the help of Cereal partners. In the personal account, the customer can select the product he needs and take a few simple steps to start using it.

Our core customers are miners and businesses that lack cash and need to expand their capacity. In the picture below you can see problems of the market participants and the solution that we offer. If in the future you need cash, we will be always  here:)

Best,
CT

I see your concept and you intend to give for miners equipment ? When it will be available from you ? What the miner must do for getting mining hardwear ?

Thanks for the question.

Any owner of cryptoassets which are accepted as deposit can get a loan in fiat. 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

I’m certain that purchasing the mining equipment in installments brings high risks and nobody should do it

Thanks for the question.

Cereals used to be one of the first means of exchange and payment in the ancient world. Today there aren’t many effective and legal tools to exchange crypto assets for fiat. We provide this service, and Cereal is a symbol of exchanging opportunities.

Best,
CT

Began to get acquainted with the projects, but it is not clear what is your ecosystem for!

Thanks for the question.

We plan to enable customers of our partner GigaWatt to purchase mining equipment by installment in the middle of this summer.

Best,
CT

Your position is clear but what if I damage the equipment or there is no electricity needed for mining?Why should I think about how to repay my installment if I can’t mine enough?

Thanks for the question.

Of course as any business activity, mining is exposed to risks but that doesn't mean people should stop becoming entrepreneurs. Our future customers know about the risks but still want to use our product. We have a large number of applications from experienced miners and those who want to become a part of this business.

For now mining is the only way to investment which allows to obtain a stable yield, received in a certain cryptocurrency. If the user believes in the long-term growth of a certain cryptocurrency, but lacks funds to purchase it in a significant amount, he can purchase mining equipment in installments with the help of the Cereal platform and sustain his future cash flow with the chosen cryptocurrency.

Best,
CT

Hi Team! where do you use smart contracts? I can’t see this clearly.

Thanks for the interest to our project.

We connect crypto holders, willing to use them as collateral, with investors that can gain benefits from this. Our main platform participants are: individual and corporal borrowers, financial companies, investors, merchants.
 1) B2C and B2B: individuals, exchange services, mining companies who hold large assets in cryptocurrency and aim to cash some of it out for fiat;
 2) Financial companies (bank, microfinance companies): CEREAL will provide loans in fiat in partnership with institutional players, which gain from credit fees or interest income.
 3) Investors: investments into CEREAL are asset-based and will be used to offer different credit products to diversify risks for investors.
 4) Merchants: we launch our initial product in cooperation with the largest US provider of mininig services- Gigawatt. Their clients will be able to purchase mining hardware in installments, using it as a collateral.
 5) Cereal company: a technological company that focuses on platform developments and securing of collateral storage. It advances technological processes and benefits from service fees for credit operations within the platform.

Hey! Heard about you, can I get a loan if i live in Australia?

I want to invest money in a credit mining product through Cereal, how can I do this?

Thanks for the question.

Cereal has a partnership agreement with GigaWatt, which provides a wide range of services for miners, including purchasing of equipment, connection to the infrastructure and subsequent maintenance. Within the partnership, customers will be able to purchase equipment by installment, which will reduce the entrance threshold into this industry, as a part of the equipment purchasing cost can be paid not immediately, but from future profits from mining.

As we said before installment is provided to buyers of mining equipment from GigaWatt company if this equipment is placed on the company's farm. The condition of placement on a mining farm is an alternative to the safe deposit storage by Cereal, and in this loan offer the deposit is the mining equipment.

You don’t have to worry about the serving the miner but of course that doesn’t exclude the other risks so the choice of purchase should be wise and conscious.
 
Here is the comparison that we did. In the following effectiveness model we have compared a purchase of 1 miner with personal funds with the purchase of 2 miners with our installment product. Calculations are based on the BTC exchange on 26 April



Credit terms
- Down payment- 50%
- Loan period- 1 year;
- Mining income is used for the monthly repayment;
- Bitcoin miner is serviced at GigaWatt;

The outcome demonstrates that purchasing 2 miners in installments is much more beneficial. From the first month, investors receive a steady net revenue that is higher than in the case with personal funding. After the loan is repaid by the end of the first year they start receiving full income.

Thanks for your question.

At the initial stage, we are making a product without smart contracts because the current level of development of the blockchain as technology and smart-contracts as technology does not allow us to realize the functionality of our product through smart contracts. In the future, we plan to implement the technology and eventually  automate processses completely, so that users can deposit crypto-currencies and receive fiat money or a cryptocurrency equivalent in fiat (stablecoin) absolutely automatically through smart contracts and a blockchain.

Best,
CT

project on lending is very solutive, but how much interest will we pay if we borrow it
When you find out explain it

Thanks for your question.

We will announce exact interest rates soon when we launch pilot product.

Best,
CT

Hello icoholder.com editor.

We appreaciate your attention to our Project. Give us a little time for evaluating the information you have posted about us on your source.

Best,
CT

Thanks for the question.

We will announce exact interest rates soon when we launch pilot product.

Best,
CT

Hello! I just have a question! I own a mining facility like Giga-Watt, can my customers in the future use your installment services?

Hello community!
We have a new cool mentor from MIT.
Here is information about mentors and long BIO of John https://docs.google.com/document/d/1sdXL8rO4MgPrZathtcqcd8FxrB1EnCRodtlW7hdJJpA/edit?usp=sharing

Best,
CT

Wow! He is one of the most powerful people in computer networks, named alongside Bill Gates and Larry Ellison !
I hope this brings good news to Cereal.

Just scrolled through his publications list. Impressive. Many aspects (it security, software engineering, etc.) which could come into play mentoring Cereal. And working at the famous MIT... wtf. That's nice. Thanks for updating us!

wow this is a great news . he's very experience man and powerful man in
computer networs , IT security , software engineering ,   telecommunications

How do you do everybody.
Today our CEO Sergey Vart and Head of analytics Ilya Vorobiev are preparing for a Money 20/20 conference in Amsterdam. We will have a booth in conference where you can ask questions directly to the project team.
Join us.

Best,
CT

Just did some research about the conference. Wow, just wow. Scrolled down the impressive attending Campanies List.Amazon for example. Wish you all the best! Hope we will get some Infos afterwards!

How will the reward be distributed?

Thanks for your question.

But which reward are you going to receive? Pls, clearify your question.

Best,
CT

Simply great! Good to know that promotions have already started. Hope to see some news about the conference soon.
" Money20/20 is that space - where technology meets money, money meets people, people meet ideas and ideas become reality." - Wow, they have good idea. I see more than 1500+ companies are going to attain this conference! All the best Cereal!

Between what kind of cryptos are allowed for the loan service (maybe could name a few) ? Will all the existing cryptocoins known in the market which are tradable and had high value of exchange be allowed or certain selected coins will only be allowed for taking the loans ?

How exactly does it work? Loans with assets as security?

Hi team. I like your idea for renting miners, but if  I do not territorially live in USA, can I buy or rent a miner from Giga-Watt?

Loans for crypto - you are not the first!
Your website says that I can pay the loan for miner in the cryptocurrency, but if I don’t want to pay in the cryptocurrency, but receive all income from mining, may I repay the loan in fiat?

Looks nice and clean! (-, Will we get a review of the conference? Was it a success? Any details? Thanks for sharing!

A company's culture and a company's brand are really just two sides of the same coin.! It's great to know that Cereal is already on the market doing some promotions, participating in major conference & sharing the world regarding the upcoming crypto loan based company.

Hello , maxbloom! We plan to launch a product of installment loan for mining equipment  for the widest possible audience around the world. But a specific list of countries will depend on national regulation. By the autumn we will have a specific list of countries in which it will be possible to buy a miner by installments.

Best,
CT

Hello , enturist !We are working on this possibility, the specific application depends on your jurisdiction
If the customer chooses the method of repayment in fiat, he gets all the income from mining minus the service fees of GigaWatt and makes monthly installment payments from his own funds. Information about monthly payments is displayed in the customer's Cereal cabinet. Information on income in the cryptocurrency is displayed both in Cereal and GigaWatt cabinets.

Best,
CT

Hi , fayie ! The Cereal ecosystem allows cryptoasset investors to use their cryptoassets as collateral to access loans in fiat currency. This means platform-users have the ability to secure their Bitcoin or Ethereum in return for access to cash. Their cryptoassets are placed in secure storage and returned to investors as soon as the loan is repaid.
Best,
CT

Looking at the list of companies participating in this event, we can be sure that a positive result from the presence of the project will definitely be. This type of marketing activity is relatively cheap (in case of renting a large area and building an exhibition stand), but the benefit of participation can be invaluable, due to the large concentration of companies working in the field of interest to us. How many representatives is the team at the event?

Guys, as far as I understand based on the names of your team members, you are from Russia. So why is your website not supporting russian language and white paper available only in english? Do you not consider the russian-speaking countries of the former Soviet Union as a promising market for your services?

It seems that at present people are not many, how many of you have bought, have Chinese users?

Cereal is a project that provides solutions for credit application problems in the crypto market. as we know credit access in the crypto market is very difficult and rarely provides the platform. provide convenient, fast, and secure access for platform users to apply for their credits. with the support of a professional team and a vigorous promotion, I think this project will be very interested investors. hopefully can run as expected.

Hello , bezuprechnyj ! At the conference there are two of our team -
CEO and Co-Founder Sergey Vart and head of analytics Ilia Vorobiev .
Best,
CT

Soon we will add the function of switching the language on our official website, and also provide WP in different languages .
Best,
CT

As you can see on the website of the project 287 contributors have joined, and citizens from China are not allowed to participate.

Hello , Frob! Citizens from China are not allowed to participate.
Best,
CT

Thanks! I believe many well known companies will likely be interested in this project as they have a very genuine concept. Many of us hesitate to sell our assets as depending of market ups and down we believe holding might give us better profit in future. Cereal is a good project which will definitely solve this problem.

Wow, it's a great team to get a positive result. Did the team present the project at any seminar in front of a large audience or is work carried out mainly at the exhibition stand of the project and through personal negotiations?

Yeah, hoping for the best as this project will help many users/miners. From the Telegram group i came to know that they met some great peoples from Ripple, MasterCard, Fidor Bank, VISA, Everex, Kraken . The Conference was from 4-6th of June, so probably we will be getting some good news soon! ^_^

Good to see the strong dedication of the team participating in so many blockchain conferences to share the world about the project. Would like to know the outcomes of the conference later on. As the conference was held in Korea would also like to know how audience reacted to it.

very good mission, I hope this project will get more attention from participants and investors, I would like to see more

Compared to the exhibition in Amsterdam, your stand at this event is much more spacious and higher. Apparently, last trip brought some positive results, since you decided not to skimp on a rather expensive event.) Which team went to represent the interests of the project this time?

this project is real as you are physically attending conferences. but one thing that i was wondering about is the name, cereal. at first i thought it was related with food but no, it's in asset-based loans. lol do you have brief explanation on this?

Have already seen the pictures in the telegram group. Awesome! Wish you all the best - and nice talks with investors, partners or clients!

Congrats,good to see you guys marketing the product out there in the wild!the stand has improved a lot,it's looking much more professional now!

Hello! Cereals used to be one of the first means of exchange and payment in the ancient world. Today there aren’t many effective and legal tools to exchange crypto assets for fiat. We provide this service, and Cereal is a symbol of exchanging opportunities.

Best
CT

Thank you Penny ! Go , Cereal ! :)

Best
CT

Thank you Faiz , for feedback ! :)

Best
CT

This name makes me hungry for a reason.. :O

I start my day with Cereal too :)

Best
CT

Hello Stas and thank's for the question ! Mining equipment is used as collateral during the repayment period of installments and physically remains in GigaWatt and is also served there. The income from mining repays installments, after repayment you can do whatever you want - pick up your miner or leave it there .


Best
CT

After the purchase of the miner took place, it belongs to the client, but during the installment payment period, it remains as a pledge in GigaWatt. After the repayment, client can do whatever he wants with the miner.

Best
CT

We have launched bounty campaign!
https://bitcointalk.org/index.php?topic=4616911.new#new

At the first stage of the product launch, we will not have a public marketplace for customers who want to sell their miners, but we are considering such a possibility in the future.

Best
CT

Blockchain-Based Lending Platform, Cereal, Readies for the $20 Million Public Sale of CRL Utility Tokens https://coinidol.com/cereal-readies-for-public-sale-of-crl-utility-token/

A good project and idea, the idea is just super
Great project! great prospects of becoming successful

Thank you , Vinay !

Best
CT

I see the allocation of funds allocated to each item developed quite a lot, I also see this project developed a bounty campaign program, but how much total supply of coins for ICO?

We are doing everything possible for this. Thanks for your feedback , Stas .

Best
CT

Hi!
Do you need any specific national regulations for you loaning operations? I mean specific laws in each country?

Hello ! We need our business to comply both with financial and crypto laws, that’s why very carefully approach the choice of the country where our products will be launched.

Best
CT

Hi all! Our team has visited 6 cities in China for 12 days - Wuhan, Changsha, Guangzhou, Chongqin, Wenzhou, Ningbo. During this time, the project was presented to more than 1000 people and received a positive response from both investment funds and private investors, not only from China, but also from all southeast Asia. We are preparing an article in Medium on this topic and will publish it soon, but for now you could read our new article about the Market of Crypto-Secured Loans!
https://medium.com/@cerealfinance/crypto-secured-loans-market-fce38f536dc8 (https://medium.com/@cerealfinance/crypto-secured-loans-market-fce38f536dc8)

Best
CT

How do you know which customer is suitable for a loan?

Any owner of cryptoassets which are accepted as deposit can get a loan in fiat. 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

OUR bounty campaign is full released since today!
Visit bounty thread and you can find a lot of ways to get CRL tokens for your support of us
https://bitcointalk.org/index.php?topic=4616911.new#new

Best
CT

Why should your business model / enterprise be decentralized?

Hi! Our business model is not decentralized. We create convenient credit products for crypto asset owners. Blockchain is a part of our ecosystem, because the collateral in the loan is a crypto asset.

Best
CT

Hi. How many tokens will be issued?

Hello Evelyn . The exact number of created CRL tokens will depend on the amount of funds collected during
the token sale .

Best
CT

Russian ANN thread is live: https://bitcointalk.org/index.php?topic=4656788.0

I looked through WhitePaper and did not see any figures on the interest for which they are going to issue loans.

And how is the success of the partner GigaWatt - they dealt with all their problems? And then I had their tokens, only the terms of construction and start-up of equipment mining were shifted.

What are your plans for the near future? What steps are you planning?

In case if a customer fails to pay the % or monthly instalment for loan how will it be encounted ? How long is the termination period?

Good day everyone! Our team has visited 6 cities in China for 12 days - Wuhan, Changsha, Guangzhou, Chongqin, Wenzhou, Ningbo. We've prepared an article in Medium about the roadshow! Check it out for more details! https://medium.com/@cerealfinance/cereals-road-show-in-china-679261bfc707

Thanks for your question.

In case if a customer can’t repay the loan in fiat he can make a request to Cereal to sell part of the deposit at the market price in the equivalent of the debt. If the collateral value drops by Cereal level, we send customer a warning that the deposit funds are insufficient. In this case customer can:
- Increase deposit to the level required;
- Pay off a part of the debt to comply with the deposit amount or repay the debt in full;
- If the first two actions are not possible, customer can sell part of the assets in the equivalent of the remaining debt.

Best,
Cereal Team.

Thank you for the interest in our project.

As of right now we are planning to launch a credit product with Gigawatt for buying miners in installments. Later on we’ll be focused only on crypto-backed loans and introduce our product first for BTC and ETH.

Best,
Cereal Team.

Hello, comrades. As stated in the white paper "In the future some other cryptocurrencies (not Bitcoin and Ethereum only) will be considered as deposit assets, as well as, possibly, other assets that can act as liquid deposit". On the basis of what indicators will you select cryptocurrencies are able to act as security for the loan, and what do you mean by "other assets"?

I heard that you will be supporting Btc and eth at first,BTC and ETH is good,since it is stable,upto an extent!
how many currecies are you planning to add on to the platform,in the future?

Cereal is a platform offering credit products that are secured by customers’ mining equipment, cryptocurrencies and other blockchain assets. Cereal is developing a suite of products catering for the individual needs of various market participants.

The interest rate is not fixed and will depend on a number of factors: the amount of the mortgage, the term of the loan and the country in which the loan is issued, the exact figures will be known after the final agreement with the partners. For details, you can contact the team directly via telegram https://t.me/cerealico, there they are actively discussing these issues.


We don't discuss any of our partners here. Please, ask your request for the Giga Watt support.

Best,
Cereal Team.

At first since the Cereal platform is released, we will consider BTC, ETH and mining equipment as collateral. Later we will expand the list of cryptocurrencies that can be used as collateral.

This information will be announced later, after the platform is launched. It is planned to use a wide range of crypto assets. Stay tuned.

Best,
Cereal Team.

Thank you for the support.

Best,
Cereal Team.

Hello! What happens in case someone fails to repay his loan regarding the mining equipment?will you them a little more time?

thanks for the question.

In case if a customer can’t repay the loan in fiat he can make a request to Cereal to sell part of the deposit at the market price in the equivalent of the debt. If the collateral value drops by Cereal level, we send customer a warning that the deposit funds are insufficient. In this case customer can:
- Increase deposit to the level required;
- Pay off a part of the debt to comply with the deposit amount or repay the debt in full;
- If the first two actions are not possible, customer can sell part of the assets in the equivalent of the remaining debt.

Best,
Cereal Team.

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"?

a great project and careful planning, but competition in the ICO market are high. I hope the team will work hard and maximize in the promotion, to be accepted by investors

Thank you for the question.

ETH, BTC for loans in fiat and mining equipment for clients of our partner GigaWatt. Cereal provides loans in fiat that allows our clients to get cash for daily expenses, using their crypto as collateral. At the first stage, there will be only the most reliable cryptoassets, like ETH and BTC, which pose lower risk for creditors.

Best,
Cereal Team.

I see that users will be able to get fiat money by depositing crypto assets. So what can Cereal tokens be used for ?

Sound great! So basically there won't be any deduction on spot for the decreament. Good to know that there are three possible ways to tackle this situation. I suppose to keep a little more than the assest loan percentage so that there won't be any necessary to checking it out until and unless the market reflects any bad crash.

Having a direct marketplace might have other advanatges took. Maybe Cereal later on shows some light on this as they can deduct some percentage by allowing cryptocurrency miners to list their mining equipments and sell them directly for cryptos or CRL tokens. And then the tokens can be utilized to purchase miners or spend on other equipments.

Thank you for the question.

With the CRL token you can enjoy following benefits on the platform:
1) Earlier access to new products in the Cereal ecosystem. For example, the participants of token sale will have priority access to the loans backed by mining equipment.
2) Better conditions for various credit products within the ecosystem. Advantages may include lower interest rates for loans and credit cards, higher loan-to-value proportion, longer payback periods, higher amounts of maximum possible loans, etc.
3) Better conditions for purchasing goods and services from partner companies. Members of the Cereal ecosystem can receive various bonuses in CRL tokens using credit products, such as cashback when shopping with Cereal credit cards.

Best,
Cereal Team.

It's actually you can get fiat money or else you can purchase mining equipments directly. Many miners will find it very resonable. Cereal provides loans in fiat that allows their clients to get cash for daily expenses, using their crypto as collateral. Once the loan is repaid, Cereal return the collateral.

Basically in my country there are specific rules and regulations in order to apply for a loan. There is too much of preachment that we have to pass through in order to make it. Starting from the documentation of all relevant documents , meetups, approval, agreements and much more! I believe in terms of Cereal everything will be smooth enough as it's in terms of cryptocurrency.

Cereal blockchain is good because they allowed clients to provides loans for their other expenses. And what I love about this project is that they return the cereal for collateral after they paid off everything.

That's a good question as many miners often decide to stop mining or else get the better one that are out in the market. I think they won't be having any marketplace but there are certain websites like ebay , list them on Craigslist as well as i have seen peoples using Bitcointalk to sell them but an escrow service is always a better option.

Hi. And you do not know what is the service life of this equipment? What happens if it breaks and the debt is not paid yet?

Great to know that! Not a miner though but can participate in the bounty campaign and secure me some tokens. This project seems to be very useful for miners so i consider the value of the tokens will be above average in future. It will facilitate the ecosystem growth and give token holders multiple advantages.

What is the maximum amount of loan can i take from Cereal?
And is it possible to take multiple loans within a year if i hold the amount of assests to pay for it?

Will Cereal products are available globally as cryptocurrency being available globally or it's only fixed within Asian regions?

Likely to check Cereal being mentioned in coinidol as next generation platform for cryptocurrency-secured loans.
Cereal's blockchain-based lending platform will introduce a new class of asset-backed loans for the cryptocurrency market
and will potentially evolve into a global loan network in future.
Basically the main point of  Cereal is their ecosystem will allow cryptoasset investors to use their cryptoassets
as collateral to access loans in fiat currency.

Indeed i like the idea too and waiting for it to release in the market. A project's potential is determined by the team members, devs, dedication and hard works and from the telegram i see that they have a great support team and they have been promoting their project in many regions.They also do have great Opinion Leaders that were lastly added!

As per my knowledge by reading their Whitepaper at the beginning of the platform launch such cryptocurrencies as Bitcoin, Ethereum and mining equipment will be accepted as deposit. These assets are highly liquid and have a significant level of trust among the cryptoinvestors.In the future, with the development of Cerealand Cryptocurrency market, some other cryptocurrencies will be considered as deposit assets.

I like the idea of interesting projects. I advise everyone to take a close look at this project. New idea, good approach, strong team - all this talk about the level of attractiveness of the project.

Between how will the procedure of taking loans be implemented? Everything will be digital based ? Like the terms and negotiation , legal documents , e-sign ?

  They have partnership with GigaWatt , the largest US mining facility which will make it possible for customers to buy mining equipment in installments, using the equipment itself collateral for a loan. GigaWatt offers customers the chance to purchase mining equipment by installment, store it on their mining farm and use it as collateral for future Cereal credit products.

I think the  minimum is $10k and the maximum amount is 1 mln,  depends on size of CRL token volume you own. The more you obtain,  the more benefits you can get from it.

Yeah, considering the fact that new mining equipments are getting launched every now and then , users might want to sell their existing miners and purchase the latest one to balance with crypto world. So it might be an better investment opportunity for users who don't want to take direct loans using crypto assets but sell their products and use the balance/tokens for purchasing mining equipments.

Cereal has automated solutions to calculate the maximum loan, which the customer has the right, and does not require verification of its reliability. This makes Cereal extremely convenient.

Cereal is a platform that offers credit products. Cereal will keep its customers' guarantees in cold wallets, thus ensuring a high level of security and preventing malicious actors from gaining access to borrower assets

Thank you for the question.

It depends on size of CRLT token volume you own. The more you obtain,  the more benefits you can get. Cereal provides loans in fiat that allows their clients to get cash for daily expenses, using their crypto as collateral. Once the loan is repaid, Cereal return the collateral.

Best,
Cereal Team.

Thank yo for the question.

We plan to start from Asia, then we will expand to Europe and the USA and other countries. We could consider the other countries if they prepare the cryptocurrency friendly regulation.We are basic all startng with the product for purchasing miners in June. After that we are going to more the focus on the credit solutions secured by cryptocurrencies.

Best,
Cereal Team.

Thank you for the question.

Yes, we plan to make new partnerships in different regions.

Best,
Cereal Team.

Thanks for the question.

It depends on size of CRLT token volume you own. The more you obtain,  the more benefits you can get. Cereal provides loans in fiat that allows their clients to get cash for daily expenses, using their crypto as collateral. Once the loan is repaid, Cereal return the collateral.

Best,
CT.

Just came to know about Cereal from Facebook and there was a mention about Credit Card. What are the features of Cereal CC?

Raised by artificial HYIP Care!

I have seen peoples using BTT for dealing with mining equipments. Although the basic usage of borrowing loans will be of more profit for miners as they won't like to sell their assests to purchase new mining stuffs rather purchase additional miners and increase their income. In my opinion miners are too costly and by terms Cereal will provide more benefits if purchased via them.

Hi! thank you for the question.

In some cases, we can repair the equipment in Giga Watt service center and it will continue to mine. If it can not be repaired we may lose some money on particular loan, that is the risk that we include in our business model when we calculate the interest rate.

Best,
 CT.

Hi! Thanks for the interest to the project.

Yes, you are right! By choosing a credit card as a product, the client receives instructions for transferring the deposit to Cereal, and then within a few days can receive the card by courier delivery or at the offices of Cereal partners. The client has the right to freely dispose of credit funds and if needed to withdraw fiat money from the card at ATMs or branches of financial organizations that are Cereal partners. The line of credit by means of credit cards is revolving, which means that the client can operate the loan with minimum monthly payments and reuse the repaid credit limit.

Best,
Cereal Team.

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.

How can i borrow loans using my assests? Will i get money in terms of the currency i use or other currency?

What is the process for applying for a loan ? Will there be necessary for passing KYC?

how TEAM Cereal works to prevent criminals from borrowing mining equipment

What are the challenges on the cryptolending market? There are some other companies that provides a loan based on assets too.

Hello, this seems to be a good project as these days the demands of loan using crypto using assets are increasing.
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.

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.

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.

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.



Read WP - they described a lot in the document.

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.

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 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?

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.

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?         

We already have many other service like Cereal so what advantage do an user have to hold tokens?

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.

I hope this process isn't much lengthy as the ordinary way from borrowing loans from banks. Banks and private sectors requires a lot of document like home mortgage document ,salary slip, many more, so many people are not able to give the necessary document.

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.

As far as I know, there are only few other platforms out there which can help people to get loans against the security of their crypto holdings.  Let's see what other things this platform can provide us.

If i am right at the moment, there are services offering an opportunity to obtain a loan in fiat in the equivalent of up to 50% of the market value of its cryptoasset. The main advantage of this type of deposit lending for the borrower is the possibility of obtaining fiat and the retention of investment position.            

Cereal will provide fiat to customers based upon the security of their cryptoassets. So, in case the mortgaged cryptocurrency value increases, won't the debt amount change or not?

If the amount of debt is nominated in units of a particular cryptocurrency-why should it change? If under the terms of the contract the crypto asset is sold and the debt is nominated in fiat, then there is no reason to change either.

Even if it's not available in client's county basis it's still valuable. We can easily exchange our money from different platforms or exchanges, only might have to spend a few bucks for exchanging. In terms of International Currency, i think US Dollar will be the best option to go through.

I saw a similiar project but with Honey instead of cereals...i'm curious how it will work out. Did you have any presale? some big investors?

Raised by artificial HYIP Care!

That's a fact! The market is never durable, so just within a matter of the second price may change. They have few options in case the assest value drops, although in case of increment i'm not sure if they have added the option to withdraw the extra.

In my case i'm rather interested in getting a fiat money using the platform. Basically i believe mining requires much knowledge and not possible for me as it will require a good capital investment. But due to the current market condition my investment seems to be very low. I hope this projects a very good success so that in future i can use my cryptos to grab a loan in need.

Great! Thanks for the clear explanation. So basically a client can open one account and can track their multiple loan status from there. I confirmed from Cereal Telegram team that we have the option for multiple loans but it depends on our portfoilio alongside the more amount we hold the more benefits we receive.         

Of course the platform will include a loan calculator and will provide notification to keep us updated about our profile. I have used another platform before where they have these kind of loan calculator and option to choose the crypto we want to keep as investment/lend.

I dont think that they will fix it within Asia although the miners in Asian regions are quite a crowd. Maybe lately they have plans to tie up with other companies and operate in other regions too.

I believe the same. Peoples will like the idea of Cereal because 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 I hope this time i am having an oppertunity to invest in a good project like this but for now have to wait and see how well they are doing in the market.

Good to know that. According to my thoughts, i hope that we don't have to wait for a long queue and provide lots of details in order to claim for loan using cryptos or else it won't make much difference borrowing loans from banks.

Why would someone take multiple loans for purchasing miners, rather they will choose the best time to lend and purchase the maximum amount? There will be benefits if you purchase a lot at once rather than taking multiple loans several times.

It's reliable as the collateral is stored on the external cold wallet of their reliable custodian partners that adds to security of crypto funds and as they said Cryptonomos software doesn’t have access to these wallets.         

It's good to see all the options that are feasible for a borrowers. Will there be any penalties if a borrower can not repay loans on time ?