Last updated on September 20th, 2020 at 02:15 pm | This article was published at an earlier date and has been updated with new information.
Bitbond – Get Bitcoin Loan & Invest Free
Bitbond – Get Bitcoin Loan & Invest Free – Do you know you can Get Bitcoin Loan and as well Invest it to earn a living? Sit back and read HOW?
Bitbond is the first global marketplace lending platform for small business loans. We leverage blockchain technology to connect creditworthy borrowers with individual and institutional investors.
How Does BitBond Get Bitcoin Loan Works
By innovating in the fields of payments and credit scoring, Bitbond makes financial inclusion a reality around the world. All payment transactions on Bitbond are conducted via the bitcoin blockchain. Therefore our service is available worldwide via the internet and is independent of banks.
In order to score borrowers who are not covered by conventional credit bureaus, we use alternative data for credit scoring. This includes transactions of small business owners from accounts like eBay, Amazon, Etsy, MercadoLibre, Shopify, PayPal, bank accounts and many others. The data gets evaluated with our proprietary machine learning algorithm.
How to Apply For BitBond Get Bitcoin Loan
You can Apply for this Loan by:
As an investor on Bitbond you can either pick the loans you like to fund manually or you use our convenient AutoInvest tool.
AutoInvest lets you create a diversified portfolio of loans according to your preferences in an automated way. The great benefit for investors who use Bitbond is that you can create a portfolio of loans that is diversified across many different countries.
More About BitBond Get Bitcoin Loan Investment
Bitbond is incorporated in Berlin, Germany and is a fully regulated financial institution with its own licence.
Bitbond’s mission is to make investing and financing globally accessible.
Bitbond rates, fees and other details You need to Know
Loan terms and repayment types
Currently we offer five different loan terms with two repayment types:
- 6 weeks: single repayment (zero coupon type)
- 6 months: monthly repayment of constant annuity (amortizing type)
- 12 months: monthly repayment of constant annuity (amortizing type)
- 36 months: monthly repayment of constant annuity (amortizing type)
- 60 months: monthly repayment of constant annuity (amortizing type)
- Minimum loan amount for borrowers: BTC 0.1
- Maximum loan amount for borrowers: depends on personal debt capacity, all outstanding loans and ongoing loan requests are taken into account
- Denomination of a loan: BTC 0.01 (this is the amount of one note)
- Minimum bid amount for lenders: BTC 0.01
Number of loans
Every borrower can have a maximum of 1 ongoing loan. This includes loans that are currently listed (“in funding”) and loans that have been funded and are not repaid, yet.
The auction lasts a maximum of 14 days and ends earlier when the requested amount is reached. During the auction period lenders are bound to their bids.
A loan is funded and paid out to the borrower either if the requested amount is reached during the auction period or if the funded amount reaches 60% or more of the requested amount at the end of the auction.
Loans with a term of 6 weeks can not be repaid early. Loans with a term of 6 months or more can be repaid early, but not before the first payment of the loan is due.
Interest rates are set according to the borrowers’s creditworthiness which is determined by their rating (risk based pricing). Interest rates vary according to the borrowers’s rating and the term of the loan. All payments of interest and principal are paid to lenders according to their number of notes held.
All interest rates are stated on a per annum (p.a.) basis to make loans of different terms comparable. The stated rates are nominal rates which means that the effective APR for a lender can vary slightly depending on the concrete payment schedule. You can view all payment schedules of your holdings under ‘Investments’ in your account and copy paste them directly to a spreadsheet for further calculations. The interest rate payment is always calculated based on oustanding principal at the payment due date.
We have the smallest fees of all peer-to-peer lending platforms. Let us know, if you think otherwise!
Origination fee (gets deducted from the loan amount prior to disbursement)
- 6 weeks term loan: 1.0% of the funded amount
- 6 months term loan 1.5% of the funded amount
- 12 months term loan 2.0% of the funded amount
- 36 months term loan 2.5% of the funded amount
- 60 months term loan 3.0% of the funded amount
We do not charge any fees for investing in bitcoin loans or for registration as a lender.
All fees are VAT exempt according to §4 no. 8a UStG (German VAT act)