Bitbond
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 Bitbond is a contract between one borrower and one or more lenders to borrow a certain amount of Bitcoins. A Bitbond 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 issue Bitbonds. The rating requires an identity verification and and is based on a financial assessment. In order to get funded, a Bitbond is issued to the Bitbond.net marketplace where buyers of Bitbonds can place bids during a six days auction. The information presented to buyers is anonymized. Both, issuers and buyers have a payment schedule displayed in their My Bitbond section of the site after an auction was finished successfully.
