Ethlend: Loaning Against BTC and other cool stuff

Getting a loan is never easy. The difficulty comes in various forms and every stage has it’s own brand of difficulty. The first and very pertinent part is actually having to locate someone or a union willing to even grant you the loan in the first place. Assuming you get past this first stage, the second stage is negotiating or getting past the interest rate; often times, these rates aren’t even negotiable and there’s no easy way to put it, but they are never pleasing. The third part is of course presenting something worthy of the tag “collateral”. If you somehow manage to get past these three stages without losing your mind, then congratulations, you have yourself a loan. I hope it was worth it. Simple as these three stages may sound, the process is often a protracted set of procedures that if not handled properly, could go belly up at any of the stages. Well Ethlend is here to make things simpler and a lot more straight forward.

"I need some money for (input name of project) but I don't want to sell my BTC", if I got a dollar for everytime I heard that statement, I'd probably be a millionaire. Well, yes, there's some good news for you, "you don't have to sell it ". Ethlend is the first of it's kind dapp found on (Stateofthedapps) that grants its users the option of getting a loan using BTC as collateral. There's one more reason to smile, please come with me as I run through what you need to know about.

According to this (Release), (Ethlend) now grants users the ability to lend against BTC and DAI coins. (Ethlend) is a trail blazer in this respect and will be the first company giving it's users an edge by introducing interoperability with BTC, There are numerous potential benefits of using the platform and I'd try to shoe horn as many as I can into this piece. Users that hodl DAI can also use their token as collateral as it was voted as the most stable coin in a community run contest for stable coins.

Benefits

• Well first and most importantly, users of (Ethlend) have easy access to loans based on their own specifications. (Ethlend) is a fully decentralized financial marketplace built on top of the Ethereum Network allowing lenders and borrowers from all over the world to create peer to peer lending agreements in a secure and transparent way using Blockchain and Smart Contracts. In simple terms, you specify what you can afford and "send it out there" and wait for an interested individual to key into your offer and grant you the loan. This goes both ways for lenders and borrowers as well, you hold the cards.
• Users can borrow against ETH, BTC, DAI and more than 200 ERC20 tokens. That's right, users of the platform will be spoilt for choice on which token they would like to borrow or loan against. This increases the number of possibilities and increases users chances of getting a loan or finding a borrower based on the token available.
• Lending crypto-to-crypto removes the need for banks to be the only available option for borrowing. Yup, this is probably my favorite part. We get to cut out the banks, other than blood sucking/absurd interest rates, you cut out all the boring paper work that comes with dealing with banks. Banks have been known to suck out the fun in everything and not having to depend on them is a win in my books
• By placing a loan request on (Ethlend), lenders from all over the globe can fund loan requests by competing to provide the most cost effective interest rate. It's sort of a free for all really, when a loan request is placed on the platform, lenders from all over the world will pop up with different rates to who requires the loan and though you asked for a loan, you still hold the cards in your hands really, as you get to choose where/who you loan from, that sounds like a good deal to me.
• (Ethlend) is trustless and transparent and can be used by individuals and institutions. Well yes, it isn't discriminatory and can be accessed by anyone from any where in the world. Ethlend's operations are all transparent and can be easilly accessed from anywhere in the world.

Conclusion:

(Ethlend) is the first of it's kind dapp that grants it's users the capacity to have access to loans at competitive rates from anywhere in the world at the most competitive interest rates. Ethlend app was launched on stateofthedapps platform and is run transparently. Users can borrow against BTC, ETH, DAI and over 200 other ECR20 tokens in a peer to peer manner. This promotes the spirit of decentralization and users know that the cards are all in their hands.

Disclaimer: this is is not financial advise, the ideas portrayed here are my opinion and should only be taken as such. Personal research should be made before making any financial decision of your own.