Today, money just became magical. Dharma is now available to the public, enabling anyone in the world to borrow and lend cryptocurrency with a few clicks. All it takes is an internet connection.
Magical Internet Money for all
At Dharma, we believe there’s much more to cryptocurrency than simply buying and holding.
Cryptocurrency is, and should act like, money. You should be able to use your crypto in everyday life, whether it’s earning interest, paying your bills, or taking out a loan, your crypto should do more.
For too long, enthusiastic observers have purchased cryptocurrency with the hopes of participating in a technological revolution. They were promised magical internet money, but all they got were assets sitting idle in their wallets.
While speculative investing was an important first use case for the ecosystem, crypto must do more in order to reach a mass-market audience. Users won’t be compelled to join a new financial system if they can’t access the basic financial services they currently rely on.
One of these basic financial services is the ability to easily earn interest and grow wealth.
Today, we are one step closer to this reality. Dharma is now officially open to the public, which means that interest rates are now globally accessible to anyone with an internet connection. With Dharma, your crypto works while you sleep.
Similarly, anyone in the world can now take out a line of credit against their crypto — no bank account or credit check required.
At launch, our users will be able to borrow ETH and DAI at the most affordable rates on the market.
Making crypto usable
In order for this new financial system to be more open and transparent, the products of this new ecosystem must be accessible and welcoming. Traditional finance is already tedious enough, we can’t burden users with buggy chrome extensions and clunky block explorers.
Our goal is to make borrowing and lending beautiful and easily accessible — we’re here to onboard the next million users to crypto-finance. To do so, we’ve built an experience similar to today’s most popular internet applications, but with the magic and speed of an upgraded, programmable financial system. Dharma is a product that just works.
Dharma users can borrow and lend cryptocurrency with just a few clicks, from anywhere in the world, and with any wallet (not just MetaMask!). A specific point of emphasis for us was freeing users from the shackles of ‘Web 3’ UX. Our users are free to send funds from any wallet they prefer, be it a mobile or hardware wallet.
You’re always in control
Dharma is beautiful and easily accessible, but importantly, it is also secure — at no point are Dharma users forced to give up ownership of their funds. This is in stark contrast to many of today’s popular crypto products and all legacy financial institutions. For example, centralized crypto exchanges have lost billions in customer funds because they require users to relinquish control of their funds to a centralized custodian.
Dharma users don’t have to choose between losing control of their funds or managing their own private keys. We’ve developed Dharma Key, a new system that allows users to seamlessly authorize transactions while retaining complete custody of their funds at all times. Gone are the days of having to open up new browser windows or finicky chrome extensions to sign every transaction. With Dharma Key, all it takes to stay in control of your funds is a 4 digit pin.
Who’s the bank now? With Dharma, you are.
The future of finance is now open to everyone. If you want to experience magical internet money for yourself, head over to Dharma and create an account.
Max Bronstein is the Marketing Manager at Dharma — the easiest place to borrow and lend cryptocurrency