Decentralend is a new cryptocurrency platform that is based on the Ethereum blockchain and has a focus on P2P lending by using mechanics of the Ethereum blockchain that allow the investors to lend money without having to trust the other person because the smart contracts help them in this case.
This way, people who need money and do not have credit in the traditional sense will be able to acquire money because the technology will ensure that the ones lending the money will be paid. The Ethereum was a breakthrough in lending technology because of this.
The company only takes a small share of the transactions and the whole process is completely transparent, so you will definitely not have anything to worry about. By using escrows and letting the lender decide how much it wants to charge for the money lent, the objective of Decentralend is to create a network that will really solve the problems of credit and lending.
This platform can also be good for other things that are not lending. Because of the decentralization of Decentralend, you will be able to use the tokens without having to pay the taxes that most banks charge. Because of this, this can be a way for entrepreneurs to have a very convenient method of payment to pay their employees.
Also, online businesses and retail stores can boost their sales and make their businesses grow faster if they use this platform because people would be able to pay using their smartphones quickly. Finally, you can even use Decentralend so you never have to carry cash with you anymore.
This company was founded by “Khan” and “Khalid”, a financial manager and a developer who decided to start a company. There is not much information about them other than where they studied.
The Decentralend App
The app of this company will be made for smartphones and by using you will be able to read news about most cryptocurrencies, deposit and withdraw money, access your wallet in which you can store the tokens that you buy from the company and use them from transactions. You might also use the desktop app.
The main action that you might use the platform for is, obviously, lending. Decentralend offers you fast transactions, low fees and a secure channel for you to exchange tokens. The company will definitely give you your privacy and the app has been designed to be very easy to use and reliable.
How to Earn Using Decentralend?
There are two main ways to get money from Decentralend. The most obvious one is by lending your money. As you are able to decide how much you are going to charge from people, you have the upper hand in the negotiation of the price that people should pay to you for your money.
If you have a lot of capital, it can definitely be a great idea to invest in this company and make some money via lending, but we are not really sure about the potential of this company if you intend to make money by using it to trade it for other currencies, as the company says that you might do.
How to Get Decentralend DLD Tokens?
The company is currently selling tokens. The pre-ICO started on April 2 and it will end on April 10. The main ICO will then start on April 20 and go until April 30, which gives this currency a fairly short window for transactions during the ICO.
The price during the pre-sale will be $0.50 USD per token and will go from $1 to $2.50 USD per token during the main sale. Because of this, you really have to buy the tokens soon or their price will really be a lot more expensive later. Users will only be able to buy 500 tokens per day so the market does not fall into the hands of a group of investors and the price will rise steadily.
Decentralend In Conclusion
Even if Decentralend might end up falling a bit on the sea of generic cryptocurrencies that appear on the web every week, we still think that it might be worth a shot. The system that the company is trying to build is not necessarily bad. The only issue is that the company does not have something unique that will make their tokens more valuable.
Because of this, know that you can use the lending services of the company to profit, but you will hardly get a lot of money via trading because we do not really see a future in which the price of Decentralend will skyrocket.