We know just how precious your crypto is to you. That’s why we’re making it oh so easy to get blockchain-backed loans. We want you to keep your favorite investment, increase your long-term position, and have cash on hand too.
We sit at an important juncture in global finance. Blockchain Technology has started a new movement where individuals are more in control of their money than ever before. Banks and traditional brick and mortar institutions are no longer the only option when it comes to leveraging your money to work for you.
At Kambo, we see this, and are working to further empower individuals who wish to empower themselves through cryptocurrencies. Our lending platform is designed to create a safe space for crypto investors to use their assets to secure cash loans without the bureaucracy of the traditional banking and lending system, and without the need to Liquidate their valuable asset into fiat.
Picture it, you were an early adopter of Bitcoin, had it mining away in 2013 on your old gaming PC in the study and accumulated thousands of these fun little digital tokens. Or, you were a smart and savvy investor and bought in when Bitcoin was at $1,000 so you decided to take some disposable income and see where it goes — and boy, did it go, all the way up to $20,000.
But now what? You have this nest egg of digital tokens where you can see their value on the internet, but can’t really do much with it. Sure, exchange them for fiat… then get taxed, lose out on another growth spurt, and deal with the quagmire of cryptocurrency exchanges. Or, what if you could unlock their potential without going through any of this rigmarole.
This is where we come in as Kambo. If you have a house, you can borrow against it. Or a car? Borrow against it, a stock portfolio, same thing! But archaic institutions don’t see cryptocurrency portfolios in the same light, but we sure do.
It is not that the traditional financial systems should be pushed aside and a new world order introduced, rather there is great scope and potential for these systems and disruptive fintech, to be integrated and seamlessly connected.
By creating a bridge which allows people to use their crypto wealth to enjoy the perks of traditional financial lending, Kambo is not only helping the individuals, but we also feel we are part of this drive to meld the two financial worlds.
There is still a long way to go in this new space, the explosion of Bitcoin’s price is just one aspect of the cryptocurrency market growth rather it is an entire ecosystem that is quickly, and constantly, striding ahead. More cryptocurrencies are entering the market, more blockchain solutions too, and with that the general adoption of this new technology, with all its possibilities, there is room for it to permeate and integrate many different sectors.
At Kambo, we are about uplifting the power and presence of cryptocurrencies, especially in their ability to free people from the cumbersome ways of the institutionalized banking and borrowing system. Not everyone can own a house to borrow against, but getting into crypto is a far easier procedure, so we want to give crypto-holders the same benefits that come from other investment products.
It is not about denigrating the traditional system, rather about building a bridge to those who have been disenfranchised by owning valuable cryptocurrency while missing out on the benefits that similar wealth in say Apple stocks would bring.
So, that’s why we do what we do — but how do we do it? Users sign up and apply for a loan, transfer their cryptocurrency to their Kambo Wallet, and receive a wire transfer to a designated bank account. And when they’re ready, they repay the loan and accrued interest, and withdraw their cryptocurrencies from their Kambo Wallet. It’s as simple as that.
How do we do it? Well our tech has been built from the ground up by a team of developers that have built banking and loan originations systems for financial institutions for literally millions of clients! We have taken this experience and made it a seamless process; KYC / AML and customer on-boarding is completely automated.
Cryptocurrency has an intrinsic value beyond its price on the charts, but it’s that value, and it’s uses, outside of liquidating it for cash, or a few sites that accept it for goods and services, are still low in a highly-fiat driven world. But Kambo is looking to make cryptocurrencies work by making their value as collateral real and functional.
Kambo also appreciates that for cryptocurrencies to be of value as collateral, we need to work fast in securing loans for our customers, that is why our loans are secured within hours, rather than days or weeks. Need money today? Get $10,000 in under 24 hours, and pay it back at just 14% APR. All of this is possible through our high availability automated Compliance, Loan origination & Wallet implementations.
Okay, but you are still thinking you could sell off your crypto-assets and use that fiat in a basic exchange instead, right? But is it worth the risks? Remember our shrewd investor who bought Bitcoin at $1,000? What if he sold half of it at $2,000 for a 100% profit — smart guy! But, how happy would he be at shipping of 10 BTC or so when it topped $20,000?
Additionally, what about the tax he would have to pencil into his returns for this sudden influx of money from selling his digital assets? Far more than 14%…. People with wealth are smart with their wealth; money makes money and to have a digital asset that has shown unprecedented growth, and the ability to borrow off that — without losing any of it — for other money-making projects is exactly how the digital rich can get richer.
We at Kambo know we are offering something different to other competitors, firstly, we have stepped far away from the dangerous ICO ecosystem. You’ve probably seen this graph floating around from Bloomberg:
Yeah, probably not the best time to be going with ICO-proud businesses seeing as people have seen through the smokescreen and realize, like many governments and regulators, that ICOs are mostly big and empty promises. Our mandate is to rather underpromise, and then over deliver.
Kambo is part of the GK-Group and this ensures our users that we will never, and we mean never, have to be in a position to perform an ICO. We don’t want the hassle of our own token, let’s just use the ones that people know and trust, right?
Just to clarify further, GK-Group is a globally renowned parent firm which incubated us and we have been in the game since 2010 growing exponentially by picking up viable and innovative projects like Kambo.
This is our first introductory blog, and we hope we have given you a clearer understanding of who we are, what we are doing, and what is our big picture plan with Kambo is. There will be more, and regular, updates that you can follow along with. We are very excited to have you a long for this ride with us.