Have you ever wondered why the Etherecash platform stands out from all the other platforms out there? The answer is simple – because it is backed by the lawyers and the crypto. Everyone wants the same, safety and security, especially the customers.
If you are still worried then hear this – Etherecash is involved with the top legal firms and houses which means that it is backed by some of the best lawyers. The Etherecash is equipped with the best legal team that can be found and everything is taken into consideration from the legal perspective.
As for crypto backed loans, that basically means that a borrower who decides to get a loan can get one but also keep his other assets such as cryptocurrency. It is usually normal for someone to liquidate some of their funds in order to generate the cash flow. This is usually an unexpected situation which is done in emergency. However, Etherecash allows you to get a loan at 80% of the crypto value which is equivalent in flat currency. The cryptocurrency acts as a sort of collateral and they are returned on deposit when all the repayment and interest has been repaid. It is not unusual for crypto assets to have their value increased or decreased though.
There are many individuals or companies that are asset rich but very poor in cash. And this is where this platform comes in handy. In real world, in order to get a loan in bank you need to at least have a regular income. Now with Etherecash you do not need to fill this criterion.
People define ‘value’ as something that has a level of worth or usefulness. However, the most valued thing in this world is definitely trust, and that is the most appreciated value when it comes to Etherecash. The customers and their needs are listened to and met in order to create a complete transparency, which any service provider should strive for.
The Ethererum platform is using the ERC20 which is also backed by a legal team. This is the best possible combination because it consists of technology and a reliable system. Some of the key industry issues are solved by:
- The data is secured and safe via a distributed ledger which is stored on devices that are parted into millions. This reduces any risk of hacking and stealing the data. It also reduces any risk of cyber-crime and internal fraud.
- Lenders and borrowers work in the so called peer to peer network because trust and mutual decisions can be met only in such environment. There is no interference of third party people and banks, and there are no additional costs. It is only the lenders and borrowers working together for a mutual gain.
- The market is becoming more competitive when it comes to financial sector because both the borrowers and investors have access to more opportunities. There is also a greater credit availability because there is also a big potential for the loans increase.
- Creating saved time, efficient trading, and reduced costs by making the processes automatic. They also need to be user friendly.
- Users have an easier access to information which creates a complete transparency and builds confidence.
- All of the contracts are digitalized with mutual terms and they are all irreversible and immutable, and executed according to the terms that benefit both parties.
To sum up, we have talked about two main reasons that make the Etherecash platform unique among thousands of other similar finance platforms. Those two reasons are – being lawyer backed and crypto backed. The first provides security in terms of registration, conceptualization, legal terms, development etc. When an industry such as this one is so complex and huge, it is important to have each step guided by a lawyer who can guide you and help you which direction to take, if you want to of course.
As for the second reason, crypto backed, it provides you with safety and security because in modern times cyber-crime is more than often. You have. Probably heard of internet thefts and hacking; therefore this kind of crypto backed data makes sure that all of your info is separated into million parts that cannot be easily stolen or found.
This kind of system makes it easy for poor individuals who cannot get a loan from bank to finally get an opportunity and pay off their debts or simply start a new business.