What a hell is crypto-backed loan?

In the past, we had to make too many hard choices. For instance, there was a separate device for everything. Today some choices are much easier, because we have many things in the same place, for example, maps, music, phone, and money right in your pocket.

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Loan issuance & return

Unfortunately, in some cases, not much has changed. If you wanted to get quick cash to cover your credit card debt, to buy a cheap flight ticket to Paris or to pay for the home improvement, you had to sell your crypto-assets. There was no other way to enjoy crypto wealth in a responsible way. It has been very frustrating, because when the market is rising, smart individuals do not want to lose their future gains, right?

The good news is now you don’t have to choose between quick cash for everyday needs and long-term investments anymore. You can have both.

How does it work?

You want to borrow let’s say $1,000 for 12 months. To collect your loan you are asked to provide BTC 0.2648 as collateral. Our real-time calculator assess that your monthly payment will be $89 with 12% interest rate.

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Calculations sample (06/01/2018, Sources: Coin Market Cap, HODL Finance)

The exact amount of a maximum loan will depend on the value of cryptocurrency provided as a security deposit. The decision about the loan will be instant.

The loan amount will be transferred the same day, including weekends and public holidays to holders of a free HODL Finance credit card. If clients choose to transfer to their bank account or other convenient option, service will take additional several days, since international bank transfer can take up to 7 business days, an EU payment — up to 1 business day.

After you finish your last loan payment, the return of loan is confirmed in the system automatically and your collateral is returned to you.

No credit checks

Credit checks, performed by old-fashioned financial institutions, slow loan issuance tremendously and worsens borrowers your credit rating. HODL Finance will NOT perform any credit checks, your cryptocurrency merely serves as a guarantee of return of a loan.

The most popular currencies available

Loans will be issued in the most popular forms of fiat money — United States Dollars (USD), Great Britain Pounds (GBP), Euros (EUR), Japan Yen (JPY) etc. In the first stage of operations, HODL Finance will issue loans in USD and EUR. Although we launch with a limited offer of currencies as variety will increase over time for your convenience.

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