[ANN] [ICO] CEREAL - BLOCKCHAIN ECOSYSTEM FOR ASSET-BASED LOANS

[Valareos]

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/

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.

[timberfox]

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

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!

[ChubarV]

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"?

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.

[Icoha2018]

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.

[Tamila]

How does it work for cryptocurrency mining equipment as equipment? You don't really physically transfer it or do you?

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

Ah I see so you remain in the possession of the mining equipment. I essentially buy it from you but you keep it as collateral?

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

Sure got it. If the miner decides to receive it you are going to send it to him, but could he also decide to sell it? Will you have something like a small marketplace maybe?

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

Would make sense as it provides anyone with a more fungible underlying and may therefore be an even better investment opportunity.

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

Best
CT

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

[DangerETH]

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

  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.

[Olega252]

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?

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.

[timberfox]

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?

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.

[icohunter1024]

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.

[Katysgysa]

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

[Cereal Team]

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?

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.

[Cereal Team]

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

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.

[Cereal Team]

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?

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.

$ 10k is a big amount. You want to work with clients who have a lot of crypto currency.

Will you enter into partnership with other crypto-currency projects? (except for the GigaWatt)

Thank you for the question.

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

Best,
Cereal Team.

[Cereal Team]

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?

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.

[Momur0]

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

[gefander]

Raised by artificial HYIP Care!

[zahardarya]

How does it work for cryptocurrency mining equipment as equipment? You don't really physically transfer it or do you?

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

Ah I see so you remain in the possession of the mining equipment. I essentially buy it from you but you keep it as collateral?

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

Sure got it. If the miner decides to receive it you are going to send it to him, but could he also decide to sell it? Will you have something like a small marketplace maybe?

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.

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.

[Cereal Team]

How does it work for cryptocurrency mining equipment as equipment? You don't really physically transfer it or do you?

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

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?

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.

[Cereal Team]

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

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.

[skladnikov]

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"?

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.