⚡️⚡️⚡️[ANN] [PRE-ICO] LendsBay | Credit ecosystem

[faulerwilli]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

[1715293070]

1715293070

[FarmFrenzy]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Congrats to you! So did you bet on the opposite ones?)
BTW, many blockchain startups conducted different contests connected to World Cup, but I didn't know Lendsbay did so too. Nice to hear that, I think it attracted many potential customers.

[Ace44]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Never knew that such competition was been held by the team, i've not been following up their telegram channel for a while but that was a good move that they did and i'm pretty sure that such competition must have attracted some people to the project, that's creativity in their awareness campaign and they should keep coming up with such

[jamzzz123]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Congrats to you! So did you bet on the opposite ones?)
BTW, many blockchain startups conducted different contests connected to World Cup, but I didn't know Lendsbay did so too. Nice to hear that, I think it attracted many potential customers.

Where did you hear that you won 5 Lendsbay tokens?

A very good marketing strategy but I would like to know where you saw the update

[Nathan01]

Interesting details I found from whitepaper. "Depending on the stage of the ICO, the price for one LBT token will vary from 0.0005 to 0.0010 Ethereum (the only currency with which you can buy LBT tokens). All unsold tokens will be destroyed." But I still didn't found that which currencies we can use to invest in ICO.

I think you can only use eth to buy LBT tokens, maybe the team should consider Fiat payment too this way they can get different kind of investors and also new investors who do not have a lot of knowledge from the crypto world.

According to the whitepaper the only currency for payment is ETH. They should think about other currencies or maybe fiat payment.

Now we accept ETH and BTC (the possibility of accepting BTC appeared recently)

Glad to see that they listened, it will be better they put some other currencies like LTC, DASH XRP etc so they give more option to investors who are willing to purchase more and they don't want to go through the hurdles of changing their base currency

[chan001]

Interesting details I found from whitepaper. "Depending on the stage of the ICO, the price for one LBT token will vary from 0.0005 to 0.0010 Ethereum (the only currency with which you can buy LBT tokens). All unsold tokens will be destroyed." But I still didn't found that which currencies we can use to invest in ICO.

I think you can only use eth to buy LBT tokens, maybe the team should consider Fiat payment too this way they can get different kind of investors and also new investors who do not have a lot of knowledge from the crypto world.

According to the whitepaper the only currency for payment is ETH. They should think about other currencies or maybe fiat payment.

Now we accept ETH and BTC (the possibility of accepting BTC appeared recently)

Glad to see that they listened, it will be better they put some other currencies like LTC, DASH XRP etc so they give more option to investors who are willing to purchase more and they don't want to go through the hurdles of changing their base currency

Yes, I also think they should accept top 5 crypto currencies at least. And may be Fiat option if possible. This will attract more users.

[cryptossi]

Lendsbay introduces a lot of flexibility in terms of credit history, ones credit history is no longer limited to one country,  with Lendsbay people can get a loan anywhere in the world.

So as i understand i can get a loan from another country through Lendsbay? why is that better then getting a loan in your own country.

Maybe you will not get credit in your own country. Or the interest rates are lower in another country. Maybe there are too few users of the app in your country. There are many possibilities

Yes exactly, it gives lendees more freedom, I'm still trying to figure out whether lendees/lenders need to hold a certain amount of LBT before they participate in a loan contract on the Lendsbay platform? I've asked around and read the whitepaper but I haven't received any clarification yet.

As in a deposit/holding fee? makes sense i guess and is definitely a good question to ask. i haven't had a thorough look but is there anywhere that states what happens if the loan isn't paid back?

The team have answered my query and it is not necessary to hold LBT to take out a loan, but a specific amount needs to be repaid in LBT tokens. Still trying to get an answer on what percentage or amount of the loan needs to be paid for by LBT.

On repayment it depends really, because in theory a Lendsbay loan should always be repaid due to the very nature that the lender is lending their money to a friend, relative or acquaintance which should reduce the risk because it would ruin a relationship. There is insurance that can be purchased to manage the risk. In all honesty I need to look into it a little bit further.

[RyCriptoC]

Lendsbay introduces a lot of flexibility in terms of credit history, ones credit history is no longer limited to one country,  with Lendsbay people can get a loan anywhere in the world.

So as i understand i can get a loan from another country through Lendsbay? why is that better then getting a loan in your own country.

Maybe you will not get credit in your own country. Or the interest rates are lower in another country. Maybe there are too few users of the app in your country. There are many possibilities

Yes exactly, it gives lendees more freedom, I'm still trying to figure out whether lendees/lenders need to hold a certain amount of LBT before they participate in a loan contract on the Lendsbay platform? I've asked around and read the whitepaper but I haven't received any clarification yet.

As in a deposit/holding fee? makes sense i guess and is definitely a good question to ask. i haven't had a thorough look but is there anywhere that states what happens if the loan isn't paid back?

The team have answered my query and it is not necessary to hold LBT to take out a loan, but a specific amount needs to be repaid in LBT tokens. Still trying to get an answer on what percentage or amount of the loan needs to be paid for by LBT.

On repayment it depends really, because in theory a Lendsbay loan should always be repaid due to the very nature that the lender is lending their money to a friend, relative or acquaintance which should reduce the risk because it would ruin a relationship. There is insurance that can be purchased to manage the risk. In all honesty I need to look into it a little bit further.

Very good information, thanks for sharing! So even though we don't need to hold LB tokens we still need to buy some before taking loan from anyone.

[faulerwilli]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Never knew that such competition was been held by the team, i've not been following up their telegram channel for a while but that was a good move that they did and i'm pretty sure that such competition must have attracted some people to the project, that's creativity in their awareness campaign and they should keep coming up with such

the competition was not announced big, they just asked for a tip on Twitter before the quarter-finals. I did not even know that I answered :-)
So the surprise was much bigger

[Corleone100]

I've been following you on Twitter and, gotta say, your latest write-up, "Scoring yesterday, today and tomorrow", it was amazing. So well-written I kinda had to re-read it a couple of times, hahaha, I'm a big fan of your project, by the way.

Yeah you're right, I got to read the article and it explains how beautiful the platform is going to be in the nearest future I already recommend to friends and family around me

I believe by the end of next year a lot of people will use lendsbay as a means of borrowing and lending money itbl gonna change how we lend money

If the default rate can be managed reasonably then maybe yes. Businesses like BTCjam and some others failed because everybody just stole the money.

I think the crypto part is the tricky one given the volatility of the market. I think it is a smart way using the blockchain for lending money.

I also got to read through the article and it was really insightful and also explained a lot about lendsbay. In the nearest future this project will change the way we lend and borrow money.

[CryptoBeefy]

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

Shame when your favourite goes out but at that point to get anything out of the remaining tournament is a bonus so 5 LendsBay tokens is better than nothing. Congrats

[ethtrader16]

Did you guys see the amazing 15 minutes video review from InsideCrypto about Lendsbay? no dislikes and people are very interested about the project in the comments too, check the video out here: https://www.youtube.com/watch?v=kQWO8M7DZe8&feature=youtu.be&a=.

I just did, was an interesting video it was published on the 14th so far I see positive comments nice one from the team.

Thanks for the video link. He given nice review about Lendsbay and this project surely deserve for this. I need to check more YouTube video like same.

[ctrades31]

It's nice to see that they are still receiving funds from investors. Now 188k$ showing and price also increased to 0.33$.

I believe this project will carry on receiving a considerable amount funds from investors as it's a project that could and will benefit all users.

yeah, i expect alot more investments to come the last few days of the campaign. Alot of people I know only invest on the last few days as they can make more from day trading that the bonus would give them.

Completely agree, it's been going well and I expect this to continue as I usually see a big push right at the end few days. Fingers crossed

Wow, raised fund showing 200K USD. Now only 50K USD they require to meet target in Pre-ICO in 11 days. That's not a difficult for lendsbay.

[Owillz]

I've been following you on Twitter and, gotta say, your latest write-up, "Scoring yesterday, today and tomorrow", it was amazing. So well-written I kinda had to re-read it a couple of times, hahaha, I'm a big fan of your project, by the way.

Yeah you're right, I got to read the article and it explains how beautiful the platform is going to be in the nearest future I already recommend to friends and family around me

I believe by the end of next year a lot of people will use lendsbay as a means of borrowing and lending money itbl gonna change how we lend money

If the default rate can be managed reasonably then maybe yes. Businesses like BTCjam and some others failed because everybody just stole the money.

I think the crypto part is the tricky one given the volatility of the market. I think it is a smart way using the blockchain for lending money.

Speaking of volatility nature of crypto, will the currency for lending be in lendsbay or usd?? Cause I was just thinking what will be the case when the value of the lendsbay you gave increases??

[SimpleMan]

I've been following you on Twitter and, gotta say, your latest write-up, "Scoring yesterday, today and tomorrow", it was amazing. So well-written I kinda had to re-read it a couple of times, hahaha, I'm a big fan of your project, by the way.

Yeah you're right, I got to read the article and it explains how beautiful the platform is going to be in the nearest future I already recommend to friends and family around me

I believe by the end of next year a lot of people will use lendsbay as a means of borrowing and lending money itbl gonna change how we lend money

If the default rate can be managed reasonably then maybe yes. Businesses like BTCjam and some others failed because everybody just stole the money.

I think the crypto part is the tricky one given the volatility of the market. I think it is a smart way using the blockchain for lending money.

I absolutely agree with this and that is the problem a lot of these lending platforms are searching a solution for. It should become better though when the whole market more and more matures.

[tevez_86]

Lendsbay introduces a lot of flexibility in terms of credit history, ones credit history is no longer limited to one country,  with Lendsbay people can get a loan anywhere in the world.

So as i understand i can get a loan from another country through Lendsbay? why is that better then getting a loan in your own country.

Maybe you will not get credit in your own country. Or the interest rates are lower in another country. Maybe there are too few users of the app in your country. There are many possibilities

Yes exactly, it gives lendees more freedom, I'm still trying to figure out whether lendees/lenders need to hold a certain amount of LBT before they participate in a loan contract on the Lendsbay platform? I've asked around and read the whitepaper but I haven't received any clarification yet.

As in a deposit/holding fee? makes sense i guess and is definitely a good question to ask. i haven't had a thorough look but is there anywhere that states what happens if the loan isn't paid back?

The team have answered my query and it is not necessary to hold LBT to take out a loan, but a specific amount needs to be repaid in LBT tokens. Still trying to get an answer on what percentage or amount of the loan needs to be paid for by LBT.

On repayment it depends really, because in theory a Lendsbay loan should always be repaid due to the very nature that the lender is lending their money to a friend, relative or acquaintance which should reduce the risk because it would ruin a relationship. There is insurance that can be purchased to manage the risk. In all honesty I need to look into it a little bit further.

That is very good to know and thanks for sharing that information. i think it would've been good if they made you put down a small holding deposit but i think the insurance is definitely advisable.

[ethtrader16]

I just saw on their Twitter and they are rewarding to followers with 5 lendsbay tokens. Exactly I couldn't found that the reason of rewards. But this is a great things that they are giving tokens as rewards.

[FarmFrenzy]

I just saw on their Twitter and they are rewarding to followers with 5 lendsbay tokens. Exactly I couldn't found that the reason of rewards. But this is a great things that they are giving tokens as rewards.

Hey, maybe this is somehow connected with what faulerwilli wrote above:

haha, I won 5 lendsbay tokens in the World Cup Competition.
After all my favorite teams were eliminated very early, that's a great consolation prize :-)

[cryptossi]

Lendsbay introduces a lot of flexibility in terms of credit history, ones credit history is no longer limited to one country,  with Lendsbay people can get a loan anywhere in the world.

So as i understand i can get a loan from another country through Lendsbay? why is that better then getting a loan in your own country.

Maybe you will not get credit in your own country. Or the interest rates are lower in another country. Maybe there are too few users of the app in your country. There are many possibilities

Yes exactly, it gives lendees more freedom, I'm still trying to figure out whether lendees/lenders need to hold a certain amount of LBT before they participate in a loan contract on the Lendsbay platform? I've asked around and read the whitepaper but I haven't received any clarification yet.

As in a deposit/holding fee? makes sense i guess and is definitely a good question to ask. i haven't had a thorough look but is there anywhere that states what happens if the loan isn't paid back?

The team have answered my query and it is not necessary to hold LBT to take out a loan, but a specific amount needs to be repaid in LBT tokens. Still trying to get an answer on what percentage or amount of the loan needs to be paid for by LBT.

On repayment it depends really, because in theory a Lendsbay loan should always be repaid due to the very nature that the lender is lending their money to a friend, relative or acquaintance which should reduce the risk because it would ruin a relationship. There is insurance that can be purchased to manage the risk. In all honesty I need to look into it a little bit further.

Very good information, thanks for sharing! So even though we don't need to hold LB tokens we still need to buy some before taking loan from anyone.

Found out some more information from the team about loan defaults on the Lendsbay app today. Lendsbay facilitate the signing of an enforcable contract between the lender and borrower. If there is default and someone fails to make their repayments, the app can generate an application for a court claim if the lender wishes to pursue this action. The lender then goes to court personally or with assistance of Lendsbays specialists. The claim will be enforced by bailiffs and the credit rating of the borrower will fall on the app and it probably become impossible for them to borrow money from their personal network again.

[tevez_86]

Lendsbay introduces a lot of flexibility in terms of credit history, ones credit history is no longer limited to one country,  with Lendsbay people can get a loan anywhere in the world.

So as i understand i can get a loan from another country through Lendsbay? why is that better then getting a loan in your own country.

Maybe you will not get credit in your own country. Or the interest rates are lower in another country. Maybe there are too few users of the app in your country. There are many possibilities

Yes exactly, it gives lendees more freedom, I'm still trying to figure out whether lendees/lenders need to hold a certain amount of LBT before they participate in a loan contract on the Lendsbay platform? I've asked around and read the whitepaper but I haven't received any clarification yet.

As in a deposit/holding fee? makes sense i guess and is definitely a good question to ask. i haven't had a thorough look but is there anywhere that states what happens if the loan isn't paid back?

The team have answered my query and it is not necessary to hold LBT to take out a loan, but a specific amount needs to be repaid in LBT tokens. Still trying to get an answer on what percentage or amount of the loan needs to be paid for by LBT.

On repayment it depends really, because in theory a Lendsbay loan should always be repaid due to the very nature that the lender is lending their money to a friend, relative or acquaintance which should reduce the risk because it would ruin a relationship. There is insurance that can be purchased to manage the risk. In all honesty I need to look into it a little bit further.

Very good information, thanks for sharing! So even though we don't need to hold LB tokens we still need to buy some before taking loan from anyone.

Found out some more information from the team about loan defaults on the Lendsbay app today. Lendsbay facilitate the signing of an enforcable contract between the lender and borrower. If there is default and someone fails to make their repayments, the app can generate an application for a court claim if the lender wishes to pursue this action. The lender then goes to court personally or with assistance of Lendsbays specialists. The claim will be enforced by bailiffs and the credit rating of the borrower will fall on the app and it probably become impossible for them to borrow money from their personal network again.

Wow so they have literally thought of everything especially protecting the lender. I think this will appeal to a lot of lenders in the future just for peace of mind and security of their assets