LendaBit.com P2P platform for loans secured by bitcoin 🔐💪👍

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Available Borrowing Options
All in all, there are 5 borrowing options located in the LoanBuilder, which are conveniently available to all platform users:
1 Credit Line
Due to the main advantages of credit lines — flexibility, interest-free grace period, automated use and attractive annual interest rate, — they are in high demand among many borrowers. 0% interest rate during 45 days, 2 years’ lifecycle, BitGo security and Fully automated credit line limit adjustment.
2 Loan Wizard
Loan Wizard lets you get a loan in a matter of a few minutes. 4 easy steps and you already have your loan to cover any expenses!
3 Loan Pool
Here borrowers can find standard Loan Offers automatically generated by the system. Simply tap the “Get Loan” button and receive your loan.
4 Loan Request
If you are willing to submit your own loan request with terms and conditions specified exclusively by you, simply Make a Loan Request. You are the one to decide on loan conditions.
5 Loan Offer
Last but not least is Accept Loan Offers. You have an excellent opportunity to set filters, browse and choose any Loan Request placed by qualified lenders. It is incredibly easy and fast!

https://lendabit.com/credit_line 

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Where to Get BTC or ETH for Collateral?
Presently, buying crypto with a credit/debit card or crypto swapping are widely accessible through online exchange platforms. Noteworthy, the best option is to purchase crypto from a licensed exchange service provider (for instance, Switchere). Likewise, it is viable to use the services of crypto trading platforms or cloud crypto mining services. There are plenty of choice to opt for and it is up to you to decide on your preferred means of obtaining any particular coin/token.

https://lendabit.com/credit_line 

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Are Lender’s Investments Protected at All Times?
By all means, all lenders’ inflows of funds are securely protected due to seamless collateral management system. Moreover, the world-class BitGo wallet services guarantee safety of all lent assets at all times. LendaBit.com utilizes the system of effective DDoS-attack deflection and maintains the highest platform security standards.

https://lendabit.com/credit_line

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Seamless Collateral Management
The biggest advantage of collateral to the borrower is that the lender is ready to offer lower interest rates and longer loan terms on collaterized loans in comparison to those with no collateral, thus the risk of loss to the lender is reduced to the minimum. In turn, BitGo eliminates risks and increases transparency by providing the most secure and compliant liquidity solutions. crypto pledged as collateral prevents from late loan repayments and motivates to avoid any unnecessary controversial issues. With regard to the Credit Line option, its main advantage is the ability to borrow only the amount needed and avoid paying interest on a large loan. Credit lines possess built-in flexibility and allow to adjust repayment amounts as needed, based on the current budget or cash flow.

https://lendabit.com/credit_line 

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Why Pay Off Loans on Time?
First, you, as a borrower, save money when repaying your loan on time. Secondly, you maintain excellent reputation of a reliable borrower. Thirdly, you avoid the risk of collateral transfer and you get your assets back in a timely manner, thus enforcing your financial strength and eliminating any stressfull situations with critical LTV and margin calls. P2P lending secured by crypto collateral is a well-balanced decision to get necessary funds for your dream vacation, wedding ceremony, auto purchase or debt consolidation. Summarily, borrowing crypto is tax-free, globally accessible and zero-bureaucratic.

https://lendabit.com/credit_line

[LendaBit.com]

Compliance Officer
A compliance officer is an authorized individual who ensures that a company complies with all applicable regulatory and legal requirements as well as internal policies. It is the compliance officer’s responsibility to supervise all aspects of our anti-money laundering and counter-terrorist financing requirements, inclusive of OSHA regulations and proper data governance. The compliance officer helps develop and deliver training programs to increase understanding of regulatory requirements, compliance policies and ethical conduct within business lines and across the organization.

https://lendabit.com/credit_line 

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Collateral Value — Increase & Decline
Collateral is an asset(s) that a borrower pledges as security for loan repayment to a lender. Cryptocurrencies are volatile by nature, so what is happening if the value of your collateral changes (rising or falling)? If the collateral value rises, the borrower can withdraw the amount that exceeds the requirement. Accordingly, if the value of your collateral goes up, your LTV (Loan-To-Value) goes down (the so-called overcollaterization, or a financial cushion). Conversely, the declining collateral value negatively impacts your LTV — the higher the initial LTV, the higher the risk of loan non-repayment. No worries, you can quickly and easily deposit additional collateral. By doing so, you are choosing to lower your LTV by increasing the total value of the underlying collateral.

https://lendabit.com/credit_line

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Margin Call
Margin Call is an automated notification generated by the system requesting the borrower to top up pledged crypto collateral. Margin calls protect the interest of the lenders from the downside risk. As the value of collateral decreases, the borrower is liable to add further cryptocurrency in the software to maintain the desired balance. The notification is being sent via the internal system messaging system and by email.

https://lendabit.com/credit_line 

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Crypto-Backed Loans
At LendaBit, all P2P loans are secured by crypto collateral so as to guarantee the investors safe storage of lent funds, interest and loan repayment at all times. Get a loan against your cryptocurrency instead of selling it. You can also apply for a cash loan against your crypto collateral — the option is available for credit lines. The main benefit is that you don not need to sell any of your crypto in order to receive a credit line or loan. Moreover, your crypto-backed loans do not involve any taxation, thus more flexibility and diversification.

https://lendabit.com/credit_line 

[passwordnow]

Does it mean that even if you don't charge within the 45 days period, you will charge the other way and that is through your system fee?
Do you have the statistics of how much you have already loaned or how many users you helped through your platform?

[LendaBit.com]

Calculating Interest on Loans
Interest on a loan is the cost the borrower pays to the lender for receiving and using the crypto-backed loan. Interest is calculated based on the formula: Daily Interest = (Loan Amount × Interest Rate) / 360, where 360 is used for the number of days in the year. The fastest way to calculate your expenditures on a loan is by using the online Loan Calculator on the LendaBit homepage.

https://lendabit.com/credit_line 

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Why Use LendaBit?
Peer-to-peer (P2P) crypto lending is a useful instrument to line up demand and supply of digital assets. LendaBit.com allows users to lend and borrow funds in a matter of a few mouse clicks. All the registered platform users benefit from the services provided by LendaBit.com since online crypto lending is tax-free, there are neither geographical barriers (access to the Internet is a requisite) nor never-ending paperwork accompanied by expensive bureaucratic procedures. The main advantages of LendaBit are:
• Multiple borrowing and lending options.
• Flexible credit lines in fiat.
• Reasonable fees for the services.
• Low risk loan lending with high returns.
• Attractive interest rates.
• Secured lines of credit.
• Industry-leading BitGo wallet services
• Advanced security standards & crystal blockchain analytics

https://lendabit.com/credit_line 

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Loan-to-Value
Generally, crypto collateral coverage depends on loan amount, loan duration and it should meet the Initial Loan-to-Value (LTV) ratio (50%) at the date of striking the loan deal. Loan-To-Value (LTV) ratio is a percentage calculation that helps measure the ratio of a loan to the value of pledged collateral. The value of pledged collateral is directly contingent upon current exchange rate dynamics and correlations, hence it can either increase or decrease in due course. he Initial LTV ratio can be personally adjusted when making your Loan Request – from 50% to 80%. The borrower has to duly keep abreast of the current LTV ratio and avoid its upsurge to ensure flawless reputation.

https://lendabit.com/credit_line 

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Who Can Be a Borrower?
Any individuals or entities willing to apply for a loan and pledge crypto as collateral can become borrowers. The same concerns credit lines. There are no upfront borrower requirements except for providing collateral. No credit checks are performed and no credit scores are assigned.

https://lendabit.com/credit_line 

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How Fast Can I Withdraw My Loan?
As soon as the loan is made, the funds are available for withdrawal. In turn, by using the Credit Line option, the funds are instantly available for withdrawal without any additional approvals! Credit lines provide borrowers with access to money “on demand” — fully automated credit line limit adjustment! Credit lines possess built-in flexibility and allow to adjust repayment amounts as needed, based on the current budget or cash flow.

https://lendabit.com/credit_line 

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How Often Do I Have to Pay Interest?
There are no regular interest payments for traditional P2P crypto-backed loans. You will have to pay interest only once, at the end of the loan term or you can prepay the interest amount. Withr egrad to credit lines, you are automatically assigned a credit line limit that you can continue to use and re-use based on your current credit needs. You are charged interest only on the amount that you use.

https://lendabit.com/credit_line 

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How to Repay Loan?
At LendaBit, loan repayment is automated and does not require much efforts. All you need is to have a sufficient amount of crypto (loan amount + interest) on your account balance for loan repayment. For your convenience, LendaBit offers multiple and easy-to-use lending and borrowing options with a primary focus on accessibility and intuitiveness.

https://lendabit.com/credit_line 

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What is Tether (USDT)?
Tether is a blockchain-based platform designed to facilitate the use of fiat currencies in a digital manner. Its native cryptocurrency (USDT) is a stablecoin issued on the Bitcoin blockchain through the Omni Layer protocol. It can be issued via the Omni Layer (OMNI), Ethereum (ERC20), EOS (EOS) or TRON (TRC20) protocols. LendaBit currently supports USDT (OMNI) only. It is pegged to traditional fiat currencies (1:1 ratio). It is globally used for lending and borrowing, storing and trading on crypto exchanges due to reliability, transparency, low transaction fees and wide acceptance.

https://lendabit.com/credit_line 

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Can I Cancel Blockchain Transaction?
Confirmed transactions on the blockchain are permanent and irreversible. Cryptocurrency transactions on the Bitcoin network are designed to be irreversible and we have no control over them. Considering this, it is of utmost importance to make sure your transaction details are correct before you click “Confirm.”

https://lendabit.com/credit_line 

[LendaBit.com]

Multiple Loan Applications
All platform users are able to apply for and receive multiple loans (or use credit lines, respectively) once a sufficient amount of collateral is provided. You can withdraw loans in crypto (BTC, USDT) or fiat (USD). Credit lines possess built-in flexibility and allow to adjust repayment amounts as needed, based on the current budget or cash flow.

https://lendabit.com/credit_line