How Crypto Backed Loans Work
Some people are confused about what makes cryptocurrency valuable and what makes it efficient as a means of storing and transferring value. Cryptocurrencies are also sometimes known as “altcoins” — short for alternative coins. The most famous of all cryptocurrencies is Bitcoin, although there are many new contenders to the market, known as altcoins. The lenders do the complicated filing and processing for you, and can help support you on your way to success with competitively priced cryptocurrency lending and terms. Asset lending capital features highly competitive interest for cryptofinance based on the present prime rates. Plus, crypto lenders loans extend anywhere from 3 months to 10 years, which is an ideal amount of time for many individuals seeking a good amount of capital and a reasonable amount of time to make payments on their loans.
How Do Crypto Loans Work?
Sometimes referred to as crypto financing or cryptocurrency loans, these are short to mid-term loans and are available to help cryptocurrency holder and investors keep the cryptocurrency asset they own while having access to fast cash they need to make other hard asset investments or to pay off debt.
Our cryptocurrency loan amounts are dependent on the security, the liquidity, number of coins held, price, volatility, trading volume and additional criteria determined to secure, approve and fund the loan. We offer several options for interest payments including monthly and quarterly during the life of the loan. We keep the process easy as pie, once you fully repay the loan, your crypto or alternative coins are transferred back to you in full.
How Do I Qualify for Crypto Loans?
Any owner of a cryptocurrency wallet is eligible and can be approved for a loan. The size of the crypto loans can vary greatly depending on the borrower’s ability to handle the payments and structure of the loan. The loan process is quick, and turnaround times to money are usually within 48 hours of closing.
The Main Advantages of our Crypto Loans.
With cryptocurrency, it’s all about flexibility. **Cryptocurrency lending** gives the borrower the opportunity to walk away from the loan at any time without affecting the borrower’s credit score or liability. These types of loans are much more appealing than traditional loans due to no liability issues and the fact that these loans won’t harm your credit score. The cryptocurrency loans structure is set up where no collateral and no personal guarantee is required by the cryptocurrency loans lender.
What Can My Crypto Loans Be used For?
· Expand or fund your mining operation
· Start a business
· Pay off credit card debt
· Complete a home renovation project
· Purchase new property
· Purchase new boat
· Purchase new art
· Use to fund property development
· Upgrade your mining equipment