Bitbond: Difference between revisions
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'''Bitbond''' is a peer to peer lending | '''Bitbond''' is a peer-to-peer lending platform for Bitcoin users. The site is operated by Bitbond GmbH which is based in Berlin, Germany. | ||
==Bitcoin loans== | ==Bitcoin loans== | ||
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==External links== | ==External links== | ||
*[https://www.bitbond. | *[https://www.bitbond.com Official website] | ||
*[http://en.wikipedia.org/wiki/Peer_to_peer_lending Peer to peer lending on Wikipedia] | *[http://en.wikipedia.org/wiki/Peer_to_peer_lending Peer to peer lending on Wikipedia] | ||
Revision as of 22:08, 22 December 2014
Bitbond is a peer-to-peer lending platform for Bitcoin users. The site is operated by Bitbond GmbH which is based in Berlin, Germany.
Bitcoin loans
A Bitcoin loan is a contract between one borrower and one or more lenders to borrow a certain amount of Bitcoins. Bitcoin loans 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 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.