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 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 an auction that lasts up to six days. 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.
