Bitbond: P2P Bitcoin Lending & Borrowing For Online Sellers?
Bitbond is a new online bank platform in Germany that was created for borrowing and investing money. If you are tired of the interest rates of traditional companies like banks, can Bitbound be the solution for you? Discover that by reading our review.
What Is Bitbond?
This company is a global marketplace for lending to small businesses. The goal of the company is to connect people who want to borrow money and are trustworthy and the ones who are able to lend that money to these people or institutions – and can now transfer loans using Bitcoin.
Bitbond is based in Berlin, Germany, and it is a fully regulated financial institution. The founder of the company is Radoslav Albrecht (CEO), the CTO is Jarek Nowotka, the CFO is Mortiz Cremer, the head or marketing is Chris Grundy.
Gareth Fuller works as a developer, Maciek Chudzinski as product manager, Katerina Trendafilova as customer support, Michael Baspinar as sales manager, Michael Parsons as head of sales, Gesa-Jennie Gerdes as office manager, Marcelo Xavier as another developer, Daniela Cherkova as online marketing intern, Angela Malai as sales manager, Julien Gautier as another sales manager and Roberto Malcotti as data analyst.
The company states that its three main values are accountability, transparency and simplicity to create a business that is honest and trustworthy for the people involved.
How Bitbond P2P Bitcoin Lending & Borrowing For Sellers Works
Bitbond works using the Bitcoin blockchain, so all of the transactions are made in BTC. The company uses an alternative data for credit scoring that is different from the one used by traditional companies because it uses machine learning algorithms to get the data and create credit scores for its clients.
You can choose whether you want to pick loans by yourself or if you want to use the AutoInvest tool created by the company to create your investment portfolio automatically by picking data from the market and using it.
How To Use Bitbond?
After creating your account, you will be able to borrow up to 25,000 USD and pay it back from 6 weeks to 3 years. The interest rates are very affordable, beginning at 1% monthly, but being bigger if you ask for more money. You can, for example, pick $15,000 USD to start your business and pay it a year later, which will not cost you much more than $17,000 USD later.
In case you want to invest, your returns in a single year will of at least 13% for a loan that lasts for more than this period and you can even invest in EUR, not only in USD.
The service is available in many countries and there is even a chance that you might be eligible for loans even if your traditional credit is not so good. The company states on its site that it already has more than 100,000 clients.
Many lending companies are no more than scams, but it looks like Bitbond is different from them. In fact, the company looks very structured, it has a real address and it shows the face of the people who work there. This can always be considered a great sign for many reasons.
Because of this, if you are considering using this company, feel free to do so, we have no reason to believe that Bitbond is any type of scam or that it can harm you financially in any way.