Ledn - Canada's Largest Digital Asset-backed Lender

[Ledn]

Hello fellow Bitcointalk members,

We are new to the Bitcointalk forum and would like to make an introduction to our lending service to the Bitcointalk crowd.

A little bit about us:
We are Canada's largest digital asset-backed lender, a Canadian-based (Toronto) company committed to building world-class financial services catered to the crypto-economy. We are currently primarily focused on lending to Canadian residents but if you are a non-Canadian resident and are interested in a bitcoin backed loan, please send us an e-mail to see if your country currently qualifies for a Ledn loan.

What does Ledn offer?
Our first service is bitcoin-backed loans (please stay tuned for other services and support for other digital assets).

What is the Loan-to-Value ratio of a Ledn Loan?
We offer 50% loan-to-value to our customers.

How will your bitcoin be stored during the term of the loan?
Security will always be our top priority. Collateral bitcoin is kept in cold storage (offline) in institutional-grade vaults throughout Canada. Each customer receives a segregated wallet address allowing for real-time proof of reserves on-chain.

What is the interest rate and admin fee on a Ledn loan?
We charge simple interest of 1% monthly (12% per annum) and a one-time administration fee of 2% ($25 minimum per loan). No hidden fees.

What are the repayment terms?
You can repay your loan at any point in time, no penalty. No monthly interest payments, just a one-time payment when you decide to close your loan.

Summary:
Interest Rates: 1% monthly
Admin fee: 2% (min. $25)
Minimum Loan Amount: $500 CAD
Valid Collaterals: bitcoin

If you have any other questions, feel free to post in this topic and we will get back to you.
Alternatively, you can visit our website or reach us via Twitter.

Our website: Ledn.io
Twitter: @hodlwithLedn


P.S. If these types of posts are not allowed, please let us know and we will remove the post.

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[BitcoinGirl.Club]

Where did you get the inspiration of the naming?
From HODL?

Updated Date: 2018-12-06T19:53:52Z
Creation Date: 2018-04-26T17:37:51Z

Fairly new site not even a year. How would you assure people that you will not keep the bitcoins.

[Vod]

Do you have any active loans out now?

[Ledn]

Where did you get the inspiration of the naming?
From HODL?

Updated Date: 2018-12-06T19:53:52Z
Creation Date: 2018-04-26T17:37:51Z

Fairly new site not even a year. How would you assure people that you will not keep the bitcoins.

Yes, the name of the company was coined from the term HODL.

This is an important question on why anyone would trust us. We have adopted institutional grade cold storage with policies and procedures that are backed by external investment. We consciously made the decision to not co-mingle bitcoin collateral; each customer receives a segregated wallet address that can have the bitcoin amount verified on-chain.

In addition to the above, we are a new site but not new to Bitcoin. Here are a few links in the press that provide additional information about our company:

Ledn Inc. Issues Canada's First Bitcoin-Backed Loan to Bylls - Canada's First and Largest Bitcoin Payment Processing Service

Bitcoin's 2018 Major Infrastructure Launches as featured by leading crypto publication, The Block

Venezuela update with Ledn co-founder Mauricio Di Bartolomeo, Alejandro Machado & Giancarlo Fiorella

Ledn Inc. closes $1.55 million seed financing to launch Canada's first Bitcoin-back lending platform

If you're local, in Toronto, you are more than welcome to come visit us at our office, located downtown Toronto.

P.S. Thank you for pointing out that our loans are backed by bitcoins

[Ledn]

Do you have any active loans out now?

Yes, we have been actively lending since November 2018 and have a substantial portfolio of loans outstanding from customers across Canada.

We also have returning customers with multiple loans.

[Vod]

Do you have any active loans out now?

Yes, we have been actively lending since November 2018 and have a substantial portfolio of loans outstanding from customers across Canada.

We also have returning customers with multiple loans.

Sweet.  Can you sign a message from an address holding some funds?

[Ledn]

Do you have any active loans out now?

Yes, we have been actively lending since November 2018 and have a substantial portfolio of loans outstanding from customers across Canada.

We also have returning customers with multiple loans.

Sweet.  Can you sign a message from an address holding some funds?

Can you share with us what you are trying to learn by having us sign a message from one of our customers' assigned addresses?

We are responsible for protecting our customer's privacy, and as part of our policy we do not share this information with the public.

[Vod]

Can you share with us what you are trying to learn by having us sign a message from one of our customers' assigned addresses?

We are responsible for protecting our customer's privacy, and as part of our policy we do not share this information with the public.

I want to make sure an unheard of company renting temporary office space is not just setting up to scam bitcoins.

We have to send the irreversible coins to you first, correct?

Now tell me how signing an address showing you actually hold bitcoins violates any part of your customer's privacy?

There is nothing in your policy about that.

[Ledn]

I want to make sure an unheard of company renting temporary office space is not just setting up to scam bitcoins.

We work out of 350 Bay St., an office that has many other professional service firms working out of it. It has been beneficial to us as we have already expanded our space as we have taken on a larger team. We invite you to come in and meet the team at any time.

We have to send the irreversible coins to you first, correct?

Yes, this is correct. Before sending any bitcoin, we will execute a legally binding loan agreement.
If you are interested in viewing our loan agreement, please send us an email to info@ledn.io and we are happy to send you a copy.

Now tell me how signing an address showing you actually hold bitcoins violates any part of your customer's privacy?

After executing a loan agreement, each customer sends their bitcoin to a segregated address which holds only their collateral. I'm still unsure how this information helps you.

There is nothing in your policy about that.

This is Personal Information and it is included in our Privacy Policy.

[Vod]

There is nothing in your policy about that.

This is Personal Information and it is included in our Privacy Policy.

I'm not asking you to send personal information.  The blockchain is public - I'm asking you to prove you hold any coins.

If you are refusing such a simple request, I'm sure most people will assume you are just blowing smoke up our ass, along with your fake google reviews.

[condoras]

The "lesson" will be that you really own/stack the kind of money/funds that you say that you have in your possesion.
He didn't ask you to sign any client's addresses, just an addy eg. your company's "hot wallet" or such.

As a company related to such transactions by funding others with fiat money through/with crypto assets, a BTC "company wallet" will be a mandatory. To sign it, it will be an easy way to prove your words. Besides, you hold the keys of all wallets not the client, thus it belongs to you and you can sign it without any kind of problem.
No violation at all.

Also you certainly have some defaults over the year that you are online working in this field and of course you gain some profits, right?
Don't you have a "pool" wallet for such things? You earn BTC and move them in order to gain the fiat back, correct?

[Ledn]

I'm not asking you to send personal information.  The blockchain is public - I'm asking you to prove you hold any coins.

If you are refusing such a simple request, I'm sure most people will assume you are just blowing smoke up our ass, along with your fake google reviews.

The "lesson" will be that you really own/stack the kind of money/funds that you say that you have in your possesion.
He didn't ask you to sign any client's addresses, just an addy eg. your company's "hot wallet" or such.

As a company related to such transactions by funding others with fiat money through/with crypto assets, a BTC "company wallet" will be a mandatory. To sign it, it will be an easy way to prove your words. Besides, you hold the keys of all wallets not the client, thus it belongs to you and you can sign it without any kind of problem.
No violation at all.

Also you certainly have some defaults over the year that you are online working in this field and of course you gain some profits, right?
Don't you have a "pool" wallet for such things? You earn BTC and move them in order to gain the fiat back, correct?

We understand the confusion here and wanted to offer this point of clarification.

As part of our service, we create an unique Bitcoin wallet address for each client. Therefore, each client's bitcoin is held in its own segregated address. Since each unique address belongs to each client we do feel this is private information (similar to a bank disclosing bank account numbers and balances of all of its clients). All bitcoins are held direct in cold storage and not kept in any hot wallets before receiving or sending. We are proud of the company we are building and we'd also be happy to answer any questions through a direct meeting at our office or by phone.

Please keep the conversation positive as the entire community needs support in restoring trust after recent events.

[Vod]

Since each unique address belongs to each client we do feel this is private information (similar to a bank disclosing bank account numbers and balances of all of its clients). All bitcoins are held direct in cold storage and not kept in any hot wallets before receiving or sending. We are proud of the company we are building and we'd also be happy to answer any questions through a direct meeting at our office or by phone.

So sign a message from your company's own wallet to show you hold any bitcoins at all....

[Vod]

Seems very odd to me that a company that claims to be so well known cannot sign a message showing they have any bitcoins.  :/

[BitcoinFani]

Something very interesting and beautiful, but I have no idea how the system works.. I live in Turkey, How do I get Bitcoin debt? What documents do you want from us? how much can you lend? Should we come to the canada for this? Can we meet in person? Thanks.

[paulsonnumismatics]

After the recent news by Dan Held in twitter ( https://twitter.com/danheld/status/1334152338806894598?s=20 ) I have been thinking on using this service.
Did some research, I just found this thread and I'm amazed that the CM of Ledn has leave it here like that. 6 messages in BitcoinTalk? Really? That is a huge red light, in my opinion.

Any other recent info from the last year? I find it really strange that a big personality like Dan Held or Qiao Wang endorse them, while they don't really speak about them at all.
What I'm missing?

Seems very odd to me that a company that claims to be so well known cannot sign a message showing they have any bitcoins.  :/