Secure your Loans with Digital Assets. Meet ETHLend.io
The World's First Cryptocurrency lending platform where you can pledge your digital assets for loans. And the most interesting part is that you do not get to spend your tokens but pledge those assets as the collateral securities. I know you will agree with me that this is a big blow on the banking procedures for securing loans.
Do you still think less of blockchain technology? Here is evidence of how it is solving human problems.
Having been around for a while on the blockchain and the cryptocurrency space, I can conveniently assert that this innovation is a great idea to lure a lot of individuals, firms, and companies into the cryptocurrency space.
The Ethereum-base cryptocurrency lending platform is an overt marketplace to secure loans using digital assets as collateral security. Since it is a decentralized application built on the Ethereum blockchain, they are affiliated with the @stateofthedapps
And you can find their application via here
They are a “chain-bank” which serve as a medium for cryptocurrency holders to pledge their digital assets for loans without losing out even when the market booms.
Also, among other things, the EthLend Baiji (as it is referred to) just launched their main-net recently and here is their announcement, the peer-to-peer marketplace has been created in such a way that the lender determines the interest rate by themselves. Aside from that, you can decide to create a loan rather than taking one. That is, the opportunity is open for both lenders and loans creators.
The EthLend application is built on the ethereum network and it uses the Google Chrome plugin called metamask. Before you can access the ethlend platform, you must install the plugin and leave it to connect at the background. After the plugin, you will find three boxes;
• Create a loan
• Request for a loan
• Pledge your digital asset as collateral security
In order to ascertain whether a lender is eligible or not, the reputation mechanism is one sure way to eliminate/flush out fake and untrustworthy lenders from the system. With the reputation score, each lender has their integrity to protect.
In a holistic view, EthLend is a big and healthy competitive rival to the banking system as the benefits and incentives that accrue from the platform is mouthwatering. But I would advise you to do your own research.
Disclaimer: The information contained within this post shall not be taken as financial advice. I am not a financial advisor and none of your investment decisions should be carried out based on any information presented here. The information presented in this article is for educational and entertainment purposes only
Links
Press Release 1: https://www.bizjournals.com/twincities/prnewswire/press_releases/Minnesota/2019/02/06/enUK201901295900B?ana=prnews
PressRelease 2: https://medium.com/aave/ethlend-baiji-release-has-arrived-on-the-mainnet-9efb6236aa1b
Website: https://ethlend.io
StateofthedApps: https://app.ethlend.io/?utm_source=StateOfTheDApps
I sometimes wonder whether crypto-currency traders etc., really are alt-traders.
It is no secret that Google spies on us and shares their info with banks and other corps, including governments, and yet, if I may quote:
Sorry...but you sent me running as far from this group as I can get.
Google chrome plugin has existed for some time now and a lot of traders have conveniently used the metamask plugin without any infringement whatsoever. But I quite understand your fears, you can always do your research to have more understanding about the platform but as for the metamask, it is a safe plugin. And EthLend is a reputable platform if not, it won't be here on steem. Think about it.
My main attack is not about the platform (EthLend) though I do not feel comfortable with any business that asks its customers/clients to trust google. For instance, google is making available to govs of Pakistan and Turkey (China of course, but that is old news) information about the web presence of their citizens, with details of what they do and say. If you were a citizen of one of those countries, would you see the plugin as being as safe as you seem to think it is?
A teenager discovered Apple were/are secretly recording your screen (and we know all the data they raise on us goes to the gov of China...plus others). Apple, so as to pretend it did not know, is offering to reward the teenager....because of the pressure from the public.
We live in a dangerous world, very dangerous, with many wanting to either depop the planet or else destroy us, and anyone who uses the "services" of our enemies are a fair target.
As for reputable...they all are, until they are caught...with so many traders caught acting illegally, we owe it to ourselves to examine EVERYONE we deal with.