There are more than 7.5 billion people on earth most of these have a fortune of less than $10,000 and half of this population lives on less than $3210. The cryptocurrency market was seen as a potential opportunity for the improvement of most people welfare.
However, the price of bitcoin is too high, and most people have never heard about cryptocurrencies due to lack of internet and the high cost needed to purchase digital coins. This means that the rich continue getting richer while the poor continue getting poorer.
Cryptoloans is a blockchain-based platform that wishes to make cryptocurrency assets evenly distributed among the population on earth and not concentrated on 1% of the global richest people. The platform is based on the blockchain technology and will provide secure lending, trading, and exchange of cryptocurrency in the world.
The platform is the first to create a solution for the guarantee of the creditor funds. Cryptoloans allow all people regardless of their social status to enter the cryptocurrency market with minimal risks.
How Cryptoloans LCN Platform Work
The platform hopes to unite 3 directions of financial markets:
The platform hopes to solve the problem of verifying the borrows solvency by the creation of a solution that frees the lender from the risk of borrowers insolvency. The platform also hopes to solve the problem of lack of guarantee to repayment of funds by acting as the intermediary between the lender and the borrower.
The platform will freeze the withdrawal of cryptocurrency purchased on credit until the loan payment is made in full. In case the borrower does not pay the loan on time, the coins will be transferred to the lender, and the borrower will be released from liability.
The problem of the volatility of this market will be solved by the platform offering to become the lender and ensure the investor that they will earn in fiat currency even when the cryptocurrency prices fall.
The lenders will also not have to seek for the borrower’s documents as the users of the cryptoloans platform will be required to perform a simple registration that will be enough to verify the user’s identity. The need for guarantors or collateral is solved by the system strict procedure that ensures there is no need for this.
Cryptoloans Marginal Trading
The cryptoloans platform provides a system whereby the borrower only needs to have a small start-up capital to perform a simple registration on the site to gain access to the most volatile market of cryptocurrency.
The concept of the cryptoloans platform excludes a situation where a trader will lose their money due to sharp decline in prices. The buyer in the platform only has an obligation to make timely payments on the loan, and the amount does not depend on the price movement of the purchased asset. The platform will be transparent and will allow traders to assess the real sentiments of market participants.
The cryptoloans platform hopes to democratize the cryptocurrency market allowing most people in the world to buy cryptocurrencies and get money from this trade regardless of their social status.
The official token of the cryptoloans platform will be Loancoin (LCN) which is for functional use in the platform.