There is always a reason to spend money every day since we are humans and our wants and needs are unlimited, and this might be a problem for crypto investors in this bear run as they would want to sell off some of their investments to get the needed money. This is a problem as not all investors have an eternal reserve and this could spell doom to the invested projects.
Loans can be taken to prevent this unfavourable situation but getting them from cooperate and centralized firms such as banks have a lot of problems to deal with as this includes presentations of documents, authentication, revealing ones full information which might pose a security threat in any case of a leak or breach.
All the aforementioned problems can be solved by Ethlend, as a crypto investor you would not have to sell off your investments but use those investments as collateral for obtaining a loan.

WHAT IS ETHLAND

Ethlend is the first cryptocurrency lending platform where you stake your digital assets as collateral to obtain a certain amount of loan. This prevents you from selling off your cryptos but just pledge them as collateral for security purpose. Ethlend is built on the Ethereum blockchain and it uses the blockchain’s smart contract.
Ethlend cuts out all forms of middlemen and other problems associated with the conventional method of obtaining a loan. A loan can be secured or lent out within minutes and the terms of trade are determined by users.
The Ethlend ecosystem runs on its own ERC20 token called LEND and also supports more than 200 cryptocurrencies such as ETH and BTC.
A huge announcement was made by the mother company Aave which indicates the launching of bitcoin on the Ethlend platform as this enables users to use their Bitcoin assets as collateral and cuts the long process of converting bitcoin to supported currencies on the platform. This has made Ethlend become the first decentralized cryptocurrency lending platform to integrate an interoperable blockchain feature.

Bitcoin lending represents a huge step since for the first time in the crypto backed lending market, through Ethlend borrowers can propose their own interest rates for Bitcoin loans in a peer-to-peer marketplace.
_{According to Ethlend founder, Stani Kulechov}

How Ethlend Works
The Ethlend platform is built on the Ethereum blockchain as so is the application as it uses a Google Chrome plugin called metatask as a bridge for its operations on the network and your browser. Ethlend can only be assessed through the chrome plugin and there are three main operations that can be carried out;
• Creating a loan
• Requesting a loan
• Pledging your digital asset as collateral security
There is a reputation mechanism that assures users if a lender is eligible and trustworthy as this helps to purge scammers that are posing as lenders.
Ethlend has three main features and they include;

1. security: Ethlend is code regulated and also cut out any form of the third party, by operating on the blockchain technology users are rest assures that the platform is highly secured. All the pages on the ethlend.io cannot be accessed without the chrome plugin
2. open market place/friendly user interface: this works like a normal exchange as you can propose a trade or carry on with an existing trade offer. The interface is also easy to operate.
3. speed: Ethlend uses lightning-fast technology to ensure smooth transactions across its entire ecosystem.

---

Links to reference for more information
Links
Press Release 1
Press Release 2
Website
Apps
StateofthedApps

---

Disclaimer: Before making any decision or taking any action all information on this content is not intended nor does it constitute financial, tax, legal, investment, or other advice. Endeavour to make proper research before investing in any digital asset.