Are you into cryptocurrency? Yes, I am. I have been a part of crypto since 2 years now and I have made quite a profit out of it.
To work with cryptocurrency is a big challenge where over night the value of a currency can go to the moon or can hit hard on the rock. It has happened to me and with all the crypto traders and holders out there too. You have to be very smart to minimize your loss.
Have you ever been in a place where you need instant cash but your money is in cryptocurrency and the value of it is low? You definitely don’t want to sell your valuable asset at those times but you are left with no choice rather than selling them anyway. And when you finally sell them, and watch the graph after a week you see there has been growth and you could have made more money out of it.
You can hold to a fortune amount of crypto asset but no bank gives you a loan. What if there was a solution of not selling your value yielding coins and could get cash instead by keeping your coins as collateral? Here it is, MoneyToken is the new era of finance which is based on blockchain technology.
What is MoneyToken?
MoneyToken is a financial ecosystem which focuses on cryptocurrency-backed lending and crypto assets leveraging. The main idea is to make an innovative economic model where the users can hold back their cryptocurrencies and spend cash at the same time.
MoneyToken platform allows users to lend a loan in fiat currencies or stablecoin. It has its own stable coin MTC. It is also a decentralized Exchange service.
Who can be a part?
Miners, exchange services, crypto holders, traders and investors in ICOs.
What makes MoneyToken unique from other lending platforms?
- Small and large loans can be lent ranging from $500 to $1,000,000 and more.
- No scoring or credit checks, since loans are backed up by collateral in 1:2 ratios.
- Loan approval is done in seconds and funds are transferred instantly.
- credit can be applied in fiat money and stablecoins.
- it is a global service.
- An ecosystem with it’s own stablecoin and decentralized exchange service.
Token functions:
Platform users gets privilege terms when they deposit IMT to receive Borrower Membership.
Up to 60% discount on the platform fees for Borrower Membership.
The opportunity to become a creditor when depositing IMT for Lender Membership.
Amanda:
Amanda is an artificial intelligence assistance who will provide automated loan operations. Amanda can analyze the client nature in the first steps and can make conclusions to offer them extra financial services. She can also keep track of collateral, repaying the loan based on data.
Amanda is powered by deep learning AI algorithm, which will provide a human-like service but without shady business.
How does it work?
The user has to sign up for the program and can either be a borrower or a lender. The borrower has to choose the terms of the loans he wants. Loan terms include the amount of time he wants the loan for which can be between 3 to 90 days. In future, long-term loans will also be available. The loan amount which can be $500 to $1,000,000. Then the rate of interest is counted for every day for the loan term and loan amount. It can be 0.2% to 0.5% a day. Then the user deposits collateral which can be BTC or ETH. The smart contract regulates the transaction and the deal is approved when all the terms and conditions matches. The borrower can borrow loan in USD or any other fiat money or any stablecoin. After the deal is approved, the funds are credited to the user which he can take out instantly by using his MoneyToken card.
Check out the official Money Token website https://moneytoken.com and Whitepaper: https://moneytoken.com/doc/MoneyTokenWP_ENG.pdffor more information.
Also you can apply for loan https://account.moneytoken.com/auth/signUp
Disclaimer: This article is intended to be used and must be used for informational purposes only.
My bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1247736