Bitbond: Difference between revisions
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==Bitbonds== | ==Bitbonds== | ||
A Bitbond is a contract between one borrower and one or more lenders to borrow a certain amount of Bitcoins. | A Bitcoin loan (Bitbond) is a contract between one borrower and one or more lenders to borrow a certain amount of Bitcoins. Bitbonds can have a duration between 6 weeks and 5 years. The repayment is either a bullet repayment which resembles a zero coupon bond or a monthly repayment which resembles an amortizing loan. | ||
Borrowers receive a rating before they can | Borrowers receive a rating before they can publish Bitcoin loan requests. The rating requires an identity verification and is based on a financial assessment. In order to get funded, a loan request is published to the Bitbond.net marketplace where lenders can place bids during an auction. The loan request remains on the marketplace for up to 14 days. The information presented to lenders is anonymized. Both, borrowers and lenders have a payment schedule displayed in their personal section of the site after an auction was finished successfully. | ||
==Competitors== | ==Competitors== | ||
Revision as of 22:43, 4 December 2013
Bitbond.net is a peer to peer lending site for Bitcoin users. The site is operated by CreditSix Marketplace GmbH which is based in Berlin, Germany.
Bitbonds
A Bitcoin loan (Bitbond) is a contract between one borrower and one or more lenders to borrow a certain amount of Bitcoins. Bitbonds can have a duration between 6 weeks and 5 years. The repayment is either a bullet repayment which resembles a zero coupon bond or a monthly repayment which resembles an amortizing loan.
Borrowers receive a rating before they can publish Bitcoin loan requests. The rating requires an identity verification and is based on a financial assessment. In order to get funded, a loan request is published to the Bitbond.net marketplace where lenders can place bids during an auction. The loan request remains on the marketplace for up to 14 days. The information presented to lenders is anonymized. Both, borrowers and lenders have a payment schedule displayed in their personal section of the site after an auction was finished successfully.