For now, collateral is must for a borrower. and we give max 75% of collateral value in loan,because we have to consider the price volatility of the crypto. If the borrowed coin's price increases to collateral value, at that moment, the lender can request for collateral withdrawal.
And this post is not for promotion sake. It's to promote the concept of p2p lending only.
Oh, you will even give more than that based on what I know. Since the market is highly volatile, if your plans of the market going up doesn't work, then you're in a very big loss cause you will be paying back without any profit and you're also paying all those money plus interest. If you ask me, I'd say bank is better than this one. And by the way there are lots of new platforms around these days that can even lend you money without asking for any collateral at all. But borrowing money is not something I recommend to anyone.
What do you think, whether bank lending is better or crypt p2p lending?
If you ask me I will say that there is no difference between the two of them. Based on what I know about the crypt I lending you will have to deposit your cryptocurrency assets to get some cash from the borrowers and pay back later with some interests and I don't really fancy. People just do it because they don't want to sell their assets and that's the only reason I know they do it and to me, it's not really worth it. What if you borrow and pay plus all those interests and the assets you were trying to save still didn't increase in price?