Bitcoin Forum

Greetings to all fellow hodlers,

Introducing new loan service: Whaleloan
We are a team behind lending platform (https://www.whalelend.com) that earns interest to your cryptocurrencies and previously founded a peer-to-peer lending site (https://www.lainaaja.fi).

Now we are soon launching site where you can get fiat loan using your cryptocurrencies as collateral. Before official launch, we would ask for some feedback our idea and also make you a special offer: first loans with 50% discount.

Key facts:

Loan amount	$1.000-$100.000
Loan type	bullet
Loan duration	12 months (renewal possible)
Interest rate	7% per anno
Collateral	BTC or ETH (others can be negotiated separately)
Collateral required	50% of the fiat loan value
Liquidation	when collateral ≤110% of fiat value

Repayment: after 12 months, whole capital and interest rate is paid back.

No fees on early repayments.

Also no other borrowing fees.

Example loan

Amount	$10.000
Collateral	5 BTC @ 4000 BTC/USD
Loan start date	1st Dec 2018
Loan end date	1st Dec 2019
Interest	$700
Total repaid	$10.700

Terms can be found here. (https://whaleloan.com/terms)
Our new site launches in the beginning of next week, will be announcing it here.

-Tuomas (https://twitter.com/ttalola) from Whaleloan

I'd say long-term crypto->fiat loan might not be a good idea
If the rate of the crypto collateral dropped too much, the borrower might just default the loan

Where is this "company" of yours based? Not EU or US for sure.

It's in the EU, Finland.

We have now opened our beta! https://whaleloan.com/

Check out the site and please give your feedback.