Get a Loan on your Bitcoin, Ethereum
Are you looking for Loans backed by your cryptocurrencies like Bitcoin and Ethereum?
Want to get some cash in hand without selling your all cryptocurrency?
Searching for a secured lending platform with a 0% interest rate? Then stop wasting time by browsing scam sites.
Just visit Brotherlylend, a new revolutionary secured lending platform, the expert in providing a blockchain-based decentralised loan secured by crypto-assets. It believes in “tokenization” of the economy, that’s why created its own cryptocurrency named BroCoin. But it does not mean the owners of Bitcoin and Ethereum will not able to get loans against their crypto coins. Once the systems will get launched, borrowers will be able to use Ethereum and Bitcoins as collateral to get the loans. And the system will add more currencies for collateral afterward. Nevertheless, platforms’ preferred currencies will be those whose market value will be high.
Exchange Option of Brotherlylend —
What it Mean? The exchange option of this platform will be available for both i.e. to buy and sell different types of cryptocurrencies. They will also be able to exchange BroCoins for other currencies. However, borrowers will able to attain certain advantages if the select to exchange BroCoins on the platform. Here are some top benefits that borrowers will achieve by using the platform’s own currency.
These borrowers will be able to take advantage of privileged terms and conditions.
If some borrower uses BroCoin and acquires membership of the platform then he will be able to enjoy up to 60% discount on paying various types of fees across the platform.
Nearly 50% of the discount amount in USD will take place in the form of BroCoins.
Loans and Collaterals
On the BrotherlyLend platform to regulate and manage there will be two types of funds the loans and collaterals.
To avoid the problem of market fluctuation in the price of the collateral currency, borrowers will have to use a Safety Fund of BrotherlyLend. Fluctuation in the currency price is a natural process and no one can guess when it will come.
There will also be a credit fund that will act as a benchmark for the platform to give out loans.
Based on that credit fund, the platform will allow only a specific volume of the loan.
The credit fund will continue to get larger with the time but it will be a little more than $20 million at the finishing point of the ICO
The parameters of the loan on this platform are listed below:
The ratio of Repayment to collateral
0% interest rate
The length of the credit
The amount or size of the loan
The currency of the collateral
The currency of the loan
Legality and Compliance of BrotherlyLend
Don’t worry about the legality and compliance of this platform as BrotherlyLend is a limited company that allows owners of crypto-coins to get loans in the form of fiat currency. Here, BrotherlyLend accepts crypto coins from the borrower as a security/collateral which is a completely legal entity with registration in the United Kingdom. The company will work legally and for its operations (for providing loans) it will collaborator with institutions that provide loans in the form of fiat currencies.
So there is no need to worry about anything. Moreover, all the transactions will come to pass only after acquiring the appropriate financial licenses and formal signing of the agreements.