BORROW LIQUID FUNDS AND USE YOUR CRYPTOCURRENCY ASSETS AS COLLATERAL WITH MONEYTOKEN
How to make use of the MoneyToken service?
Cryptocurrencies are a big thing these days. The Government is trying to get their hands on it so that they may restrict the value in some way or the other. But the people who are into the usage of cryptocurrencies know better than that. So, the current value of the cryptocurrencies makes it a perfect thing for several investment schemes and opportunities. One such thing can be to lend money to people who are in need of it. But people should think about taking a loan rather than selling the cryptocurrencies as they are valuable assets. Companies are working on that idea and that is how MoneyToken came into being.
What is MoneyToken?
MoneyToken has brought forth a new type of loan system where the lender can directly get into a smart contract with the borrowers. There are no intermediaries who can rule over the judgment. They use fluctuating crypto-assets as their base and change them to fiat currency or stable coin when giving the borrower their loan. The collateral remains secured in form of BTC and ETH. The exchange service is completely decentralized and secure for the users. Confirmation is almost instant and people do not even need to show their credit reports.
What problems does MoneyToken solve?
Cryptocurrency holders often face a dilemma when they are about to trade their coins. The main problem behind it is that if they spend their existing assets, then they lose on having a growth on them. So, MoneyToken gives them stable tokens or fiat as loans in a change of their volatile assets. The person will be able to get the liquid funds without any problem or harassment.
This is how MoneyToken solves the problem
• The collateral of the person is saved in form of ETH and BTC which are renowned cryptocurrencies.
• The loan amount is paid to the borrower in a stable currency that they may spend easily.
• The borrower may also return back the money to Moneytoken in form of a stable currency.
• Then the collateral is given back to the borrower irrespective of the current value. They may even opt for paying back the loan way ahead of time.
How can you use MoneyToken to apply for a Loan?
Using MoneyToken is quite easy and it's available for miners, traders , investors, ICOs and Exchanges. The collateral that is added by the borrower is completely safe in an encrypted environment and they will get it back as soon as the loan is paid back.
Steps to take out a loan:
• First, you will need to choose a loan term and loan amount that fits your needs.
• Then you will deposit the collateral in either BTC and ETH because they have the highest market capitalization. Other currencies will be added later.
• You will make the smart contract and Amanda (A.I) will approve your deal.
• Then you will receive the money in either USDT, MTC( MoneyToken) which is available for you to take out and use.
• After the money is paid off then you will get your collateral without any damage.
You will interact with an advanced AI system called Amanda when taking out the loan. Amanda is an Artificial Intelligence Assistant on the platform who will provide automated loan operations within the platform.
MoneyToken is definitely an innovative site with an amazing group of experts in various works of life and with time they will grow to change the face of lending or borrowing in the world of cryptocurrencies.
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