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Author Topic: Money Token Loan platform  (Read 66 times)
Daveprofile (OP)
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May 12, 2018, 08:37:41 PM
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MoneyToken is an innovative lending platform that has just emerged and I am actually thrilled about it.

Consider you have the most dominant cryptocurrency, Bitcoin which is currently hovering around $8000 per coin.

Every investor would exercise patience to wait for the price to hit say $15,000-$20,000. Forfeiting various other investments that could be on the horizon.

That is where MoneyToken comes in. MoneyToken a British Based company accepts your cryptocurrency as a collateral(Refunding any interest accured over the lending period), and then gives fait or stable coin in return.

It's a win-win situation.

The interest rate is low,

It's global and doesn't have to involves the bank.

Money token creates the platform for investors and Cryptocurrency holders.

Creating Harmony in the financial ecosystem.

The concept of crypto-backed loans is fantastic. The platform is already launched and Roger Ver is on board!
nthere
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May 12, 2018, 10:56:19 PM
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I always afraid like these lending platforms. It sounds like old-school type scam.
HabBear
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May 13, 2018, 05:14:58 AM
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That is where MoneyToken comes in. MoneyToken a British Based company accepts your cryptocurrency as a collateral(Refunding any interest accured over the lending period), and then gives fait or stable coin in return.

It's interesting to learn about another company offering such a service. This isn't new. What's the spread over collateral that MoneyToken will loan, i.e., if I put up 1 BTC in collateral how much will MoneyToken loan me?


The interest rate is low,

What's the interest rate. Don't bullshit us with "it depends" type lines, give us real rates based on a real scenario.

It's global and doesn't have to involves the bank.

If they're taking deposits and giving out loans they are a bank. It's a definition. It's not a curse. The thing that makes banks bad is fractional lending - so when MoneyToken takes my 1 BTC as collateral for my 1.# BTC loan...do they lend that money out again, which further depeletes their reserves on hand and leaves the impact of their failure significant?

The concept of crypto-backed loans is fantastic. The platform is already launched and Roger Ver is on board!

"Fantastic" is an impression I have yet to agree with, but is using the words "Roger Ver" supposed to make us enthusiastic about this? If so, why?
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