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The Emergence of Crypto P2p Lending

With blockchain technology being considered as the most compelling technology of our era, more and more businesses, and individuals are investing in it. Today, blockchain has invaded the spaces of almost every major industry, reshaped them, and has taken them up a notch. One such significant sector that is highly benefiting from blockchain is the finance industry, mainly the lending part of the industry. P2P crypto lending came into existence as an idea to blend lending and cryptocurrencies. In recent years, P2p lending crypto platforms have been gathering huge momentum, disrupting banks and financial institutions, and capturing the institutional investors’ eye.

As one of the early adopters of cryptocurrency and blockchain, at Infinite Block Tech, we have employed the industry best experts and developers who have the ability to offer the best bitcoin lending platform and other p2p crypto lending platforms that are feature-rich, and integrated with bank-grade security to ensure a safe and secure lending experience. Our platform assures guaranteed, enhanced returns with less to no risks for your business.

What exactly is Crypto Lending?

A Crypto peer to peer lending platform is an online crowdfunding platform that connects lenders with borrowers and acts as a third party between them. In layman’s terms, P2p crypto lending platforms enable businesses and individuals to borrow money from the platform; the borrowers pledge their crypto assets to obtain a loan, whereas the lender provides the required assets for the loan at an interest rate that is agreed upon by both the parties.

These peer to peer crypto lending platforms bring in a great deal of efficiency for both the parties. They reduce the middleman fees involved with the traditional lending system, and they pave the way for new forms of digital assets to be collateralized which brings in an array of opportunities and possibilities for lenders, investors, and borrowers which is not available with the traditional system.

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Why Are ICO Consulting Services Essential ?

With the increased popularity and competition for ICOs and evolving ICO regulations, there is only a thin line between the success and failure of an ICO. There are many ICOs that have failed to sustain in the past due to a lack of proper strategy and planning. Therefore, it is essential to completely analyze and understand the market trends and requirements, and create an ICO that attracts the investors. For that purpose, seeking ICO consultation services from experts will be extremely helpful.

Also, for a novice crypto entrepreneur, it might be overwhelming to keep with the constantly changing regulations and market trends. Therefore, hiring an experienced team of ICO consultants will make the whole process convenient for them. On the other hand, ICO consulting services benefit not only novice entrepreneurs but also existing ICO projects to further enhance their strategies to gain better results.

How Blockchain Technology enhances trust in P2p lending platforms?

Transparency

Blockchain Technology works based on a distributed ledger system. Therefore, a blockchain-based p2p lending platform ensures more transparency when compared to a traditional p2p lending platform. All information regarding the platform is available to both the lenders and the borrowers associated with the platform. Both parties can view all the past, and current transaction records, and whenever a transaction takes place, it is broadcasted across the entire network.

Anonymity and Privacy

The identity of the users is completely protected with pseudonyms, depending on the type of blockchain used to build the p2p crypto lending platform. The user interactions are end-to-end encrypted with strong cryptography and the users are enabled enhanced privacy which is not the case in a traditional p2p lending platform.

Immutability

Blockchain is immutable in nature, which means transactions once recorded cannot be altered or erased. Whenever a new transaction takes place, it is added to the block using a consensus mechanism with proof-of-work that has to be verified by the other participants in the network. This enhances trust and enables secure transactions for users.

Data Incorruptibility

Another benefit of a blockchain-based p2p crypto lending platform is the incorruptibility of data. Every transaction is properly verified and the direct interaction of users is secured through public-key cryptography. Also, every user in the platform can verify the authenticity of the transactions based on certain predefined rules.

Enhanced Reliability

A blockchain p2p lending platform works completely based on software, and everything is automated from facilitating transactions, sharing, and storing them. There is no need for manual intervention, therefore the platform provides more accuracy, and human-errors are avoided.

Flexibility

The blockchain p2p lending platform enables a flexible system where users can develop and distribute their own set of codes and functionalities. And most importantly, it allows the creation of smart contracts, which is a digital contract that executes automated transactions once the necessary terms and conditions are agreed upon by both the lenders and borrowers. Smart contracts enable more speedy, seamless, accurate transactions.

The different roles involved in a P2P lending blockchain platform

Lenders

Lenders are the people who lend money on the p2p lending blockchain platform.

Borrowers

Borrowers are the people who request for a loan from the platform for a certain amount of interest, and with a word of honor to return it within a certain time.

Guarantor

A guarantor is a person who gives assurance for the loan requested by the borrower.

How Does a Crypto Peer to Peer Lending Platform Work?

Step 1- Creation of Lender Profile

Firstly, the lender creates a profile in the platform including details such as name, ID number, address, bank account details, investment type, and setting up interest rates based on the borrower, etc. Once the lender has created the profile with the required details, it will be submitted to the marketplace that connects the lenders and the borrowers with each other.

Step 2- Receiving Loan Requests

After the profile is created, the lender waits for the borrows to send loan requests. Once the requests are received, the lender schedules a discussion with the borrower.

Step 3- Creation of Borrowers Account

The borrowers also should set up their own accounts with details such as name, address, government ID, necessary legal documents, the crypto coins to be collateralized and present a guarantor for them.

Step 4- Sending Loan Requests

After the borrowers create their own account, they can send loan requests to lenders from anywhere around the world with the help of smart contracts.

Step 5- Interaction between lender and borrower

Once the loan requests are received, the lender conducts a quick interview with the borrower with a few questions like the purpose behind the loan, the borrower’s monthly income, past loan histories etc. Based on this interview, the lender can decide whether to approve or reject the loan request.

Step 6- Smart Contract Agreement

If the loan request is approved by the lender, then a smart contract is created which is a digital agreement between the lender and the borrower mentioning the loan details, interest rates, other terms and conditions etc. The interest rate of a peer to peer lending blockchain platform remains the same all over the world.

Step 7- Execution of Transactions

Once the necessary terms and conditions are agreed upon by both the lender and borrower, smart contracts automatically initiate transactions. The borrowers can make payments using smart contracts integrated with a cryptocurrency wallet. Smart contracts enable quick, direct transactions without the need for a third party. Smart contracts would update the late fees to the actual amount on a timely basis and if the borrower pays on the right time, it automatically deducts the penalties from the amount.

The Services Offered By a Crypto P2P Lending Platform

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  • A crypto peer to peer lending platform allows lenders to either lend their cryptocurrency holdings or from others.
  • These p2p crypto lending platforms allow users to borrow fiat money by collateralizing their cryptocurrency holdings.
  • The crypto assets of the users are kept collateral by the platform for a loan authorized for U.S dollars or other local fiat currencies.
  • If the borrower fails to return on the defined time period, the crypto lending platform seizes the collateralized asset.
  • Crypto p2p lending platforms also operate as cryptocurrency exchanges in some cases.

What are The Key Benefits of a P2P Crypto Lending Platform?

At Infinite Block Tech, we pride ourselves in providing world-class solutions at a highly reasonable price. We have helped numerous clients forge a path for themselves in this often volatile market and have gained an immense amount of experience and knowledge in the process. With our specialized teams for the various aspects of development and marketing, there is no place else you need to look for comprehensive, hands-on service.

For Borrowers

  • Quicker online authorization of loans compared to a conventional method
  • Low-Interest rates
  • Lenient Credit requirements when compared to a traditional bank
  • No prepayment penalty charges
  • Automatic repayment
  • Flexible market to where lenders and borrowers are allowed to negotiate repayment time spans and the interest rates charged.

For Lenders

  • Higher Returns
  • Standardized Interest Rates
  • No intermediary or third party involvement
  • Smart-contract based payments
  • Enhanced Transparency

Exclusive Features Of Our P2P Crypto Lending Platform

Loan Calculator

Our Crypto p2p lending platform is integrated with a loan calculator that will help users calculate their monthly installments to be paid, interest rates, delayed payment loans etc.

Option for Refinancing

Our platform is enabled with a refinancing option that ushers in the opportunity for borrowers to gain access to a new loan from another lender to refinance, once he/she has paid half the repayment amount on the specified time.

LVR ( Loan-To Valuation Ratio) Calculation

Our Loan to Value Ratio Calculator will help both the lenders and the borrowers make an informed decision before a loan is being applied and approved.

Automated Loan Renewal

With our automated loan renewal feature, there is no need for manually updating the lending orders in the order book. Instead, users can efficiently switch between on and off options, as per their preferences.

Efficient Lender and Lead Management

Our efficient lender and lead management system will help lenders manage borrowers’ applications, loan details such as amount required, loan tenure, etc, KYC details of the borrower, create and manage leads, tracking borrowers’ balance, repayment status, etc.

Efficient Borrower Management

The borrowers can also efficiently manage their applications, and get notified immediately whenever a lender verifies and approves to lend their requested loan.

Dashboard

Every borrower and lender with an account in our p2p crypto lending platform can have a dashboard that will help them efficiently access and manage their required information. The information that the dashboard displays will differ for lenders and borrowers.

Auto-Invest Tool

Our fully-automated auto-invest tool matches the requirements of borrowers and objectives of the lenders and sends proposals on their behalf. This helps them quickly get hold of a high-yielding opportunity with minimal risks and diversify their portfolios.

Integrated Loan Feedbacks

This integrated feedback option will allow borrowers to share their experience of acquiring loans from the platform, the speedy performance, repayment efficiency, low interest rates etc, which will help boost the traction and further enhancing the growth of the platform

Escrow System

The transactions take place based on a smart- contract based escrow system that automatically holds and releases the crypto assets when the borrower makes the payment successfully. This helps with risk-free, hassle-free transactions and seamless operations.

Why Choose Infinite Block Tech’s P2P Crypto Lending Platform for Your Business?

Creating a peer to peer crypto lending platform is not as simple as it sounds. It involves a lot of intricacies. Therefore, to come with a p2p crypto lending platform that is trusted by a wide-range of lenders and borrowers without any security gaps requires extensive research, careful planning, and proper execution in the marketplace.

At Infinite Block Tech, we have a team of blockchain experts, domain experts, market leaders, skilled developers, strategists and analysts who have unmatched experience in the field. They are one hundred percent committed to meticulously working with you, and understanding your individual requirements, and offer the best solutions possible. We will ensure to be with you through every step of the way, and make the whole process efficient, effective and secure. We make sure your solutions help you get one step ahead and remain one step ahead of your competitors in the market.

Our Claim to Fame,

  • A team of Enterprise level experienced blockchain experts and developers
  • Dedicated, Individualistic approach to each client and solutions that fit their needs.
  • Utmost priority to Quality and Security
  • Project Delivery on a timely basis at the best price in the industry
  • Round-the-clock customer services and support.
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