The crypto economy is very volatile and selling cryptocurrencies while the market is on a downswing can be very harsh for an investor. Especially when you know that the market is going to recover later and you are losing out on significant returns.
HOLD is solving this problem by providing instant cash advances for urgent expenses such as the medical bill or car repair.
What is HOLD?
HOLD provides members with unique P2P lending and borrowing capabilities. The platform allows users to leverage their existing cryptocurrency holdings for instant cash advances from other willing users. Through their mobile app and prepaid card, they enable online and offline purchases with over 45 million retailers worldwide and over 3 million ATMs.
Bitcoin, Ethereum, and Litecoin can be used as collateral for cash advances at a competitive rate of 8%, not requiring a good credit history and without geographic restrictions. Instead of selling their assets, members can utilize them to receive instant cash, or make online purchases — while still maintaining their cryptocurrency holdings. This may also result in a potential tax deferment, depending on the jurisdiction of the borrower.
HOLD cardholders earn HOLD tokens every time they use their card. On almost all purchases, the HOLD platform will provide a 1% cashback in HOLD tokens, directly into the user’s wallet. Liquidity is provided by means of an incentivized lender program through which users fund their HOLD wallets with fiat or crypto. The platform will progressively match provided liquidity with cash advances, producing lucrative and low-risk returns of up to 7.5% p.a. for lenders, representing a lucrative money-making opportunity.
About The HOLD ICO Token
The HOLD token’s primary purpose is to allow a membership system, provide a cashback program and pay additional incentives to lenders through a status level program. The HOLD token and ICO is implemented on the Ethereum network as an ERC20 token. The HOLD distribution period (ICO) will be conducted over three rounds.
A private pre-seed round, followed by a public sale. Only accepting Ether (ETH) as a means of contributing, the public sale round is set to last a maximum of 28 days or until the hard cap is reached. The hard cap is set to $11.3 million USD while the soft cap is $3.5 million USD. Retail Rate for 1 HOLD is 0.00004 ETH.
Out of the 1.3 billion tokens in the total supply, 80% will be used in the Presale and Public sale, 10% goes to the company reserve, 5% is for marketing another 5% is for the advisors.
40% of the funds raised will be allocated for engineering and development, 25% will be used in marketing, 15% will be invested to improve their strategic partnerships, 10% will be used for legal, 5% for the day to day operations and 5% for other miscellaneous activities.
HOLD offers a solution which solidifies the weak link of cryptocurrencies, that is volatility. By truly decentralizing the lending and borrowing market, companies like HOLD are offering ways to escape the stranglehold of traditional banking institutions.
More details about the platform and HOLD token is available on their website https://hold.co/ .