Today we are going to review a new cryptocurrency company called PrimeLend. Do you want to know everything about it? Just read our review.
What is PrimeLend PML?
PrimeLend is a decentralized blockchain lending company. The objective of this company, which is built on the Ethereum blockchain and uses ERC20 tokens, is to create a lending platform so the users can invest on the company and get a return on investment that will be bigger than it would be in the traditional financial market.
How Does PrimeLend Work?
PrimeLend works using the PML tokens as a base. The whole economic model of the platform is based on these Ethereum-based tokens. The company offers transparency and a decentralized economic model in which the company itself does not control the price of its tokens and every transaction can be seen on the Ethereum blockchain.
The PML tokens are build using the ERC20 Ethereum standard so they will be compatible with any type of wallets and exchanges. Every transaction that you make using this tokens is completely secure and private. The company also offers a wallet service which will be available for PC, Mac, iOS and Android as soon as the cryptocurrency is officially released.
Another feature promised by PrimeLend is the PrimeLend Debit Card, which you can use to convert your PML tokens to fiat currency whenever you want and use them to pay for goods and services all around the world.
There are three main to make money using PrimeLend. You can your token when their value is higher, use the lending program or staking. The lending program can make you earn up to 56% per month by lending money to the company.
The more money you lend, the more you will make and the faster you will be able to get your money back. For instance, if you lend only $100 USD, you can have your capital released in 175 days, but if you lend more than $50,000 USD, you can have your money back in only 60 days.
Using staking, you only have to hold your cryptocurrency and stake it. The interest rates will vary from 8% (in 2018) to 1% monthly (in 2021). You have to stake your cryptocurrency successfully, you have to stake it for at least 14 days.
How to Invest in PrimeLend?
If you are interested in investing in PrimeLend, you have the opportunity to buy the tokens from this company during the Initial Coin Offering (ICO). The sale will start on February 25, which is coming up, so be sure to have Ethereum to buy the tokens.
The price of the PML tokens will go from $0.50 USD in the launch (February 25) to $1 on March 31, when the ICO ends. The price will rise 5 cents every 3 days, so be sure to buy the tokens as soon as possible if you are interested in buying PML tokens because this can make a huge difference on your profits later.
The tokens will be issued via smart contracts, so you can be sure that you will receive them as soon as the transaction is complete. There will be only 8 million PML tokens and most of them, 6 million units, will be sold during the ICO.
The PrimeLend PML ICO Verdict
Is PrimeLend a good choice of investment for you? This company has some good and bad points, so you have to analyse it yourself. The most positive point is that the company seems more organized than the average cryptocurrency which was created for lending. On the other hand, this company also has many of the problems that companies of this type have.
The main negative points about PrimeLand is that the company is very generic and there is not much reason for anybody to choose it over the other hundreds of companies which are just like it. Because of this, it might not be the best investment in the world to give PrimeLend a chance.
It is up to you to decide whether you will give this company a shot or not. PrimeLend can be a good investment? Yes, but it might not also be, so you really have to think well before you take any final decision about whether to invest in this company or not.