Published on April 20th, 2018 | by Jenny0
P2P Lending With Bitcoin
What is BitCoin?
Bitcoin is a cryptocurrency which is encrypted in Blockchain. Being an encrypted Blockchain currency makes it very different from traditional currencies. Here are some examples of what makes Bitcoin different.
- Bitcoin is not controlled by an institution, it is decentralised. This means that the currency is not controlled by banks and government institutions, but it is maintained by a group of volunteer coders.
- There is a limited supply. A small number of bitcoins develop per hour and continue to generate slower and slower until a maximum of 21 million is reached.
- Bitcoin gives its users a sense of anonymity due to there being no central validator. The system doesn’t generally know a user’s identity.
- Bitcoin transfers cannot be reversed meaning that transactions cannot be tampered with.
- Bitcoins are divisible into the smallest form possible by any currency – a Satoshi is one hundred millionths of a bitcoin.
Why should you invest in Bitcoin?
Bitcoin fell to its lowest price point this year on the 6th April, but it seems to be back on the rise again with a slow and fluctuating gradual increase since then.
Industry experts are forecasting a surge in the price of bitcoin meaning now would be a good time to invest in the cryptocurrency.
Investing in Bitcoin can open up many things for you, including the opportunity to use them for peer-to-peer lending.
While the prices are at a low it’s a good time to invest. Buying your share of the currency now will give you an opportunity to gain if the price goes up or if the price goes down again you won’t lose as much as if you would if you’d bought bitcoin late last year. Even if the price decreases it can still increase from there.
How can you lend Bitcoin?
You can lend your bitcoin to others all over the world using borrowing and lending programs such as BitBond.
BitBond allows you to lend out money in the form of bitcoins and earn up to 25% interest per annum.
The lending of bitcoin means that you can lend to anyone in the world without having to worry about currency exchange fees.
You can also choose exactly who you lend to, meaning you can track and stay in control of all your lending.
Also, everyone who applies for a loan through BitBond goes through a credit checking process to make your transactions secure.
Using Bitcoin for P2P lending helps keep costs down that would be involved with using other types of payments because the money can be transferred quickly, easily and without banks and transaction fees slowing the processes down.
Is P2P lending with Bitcoins for you?
If you are looking for an easy way to invest money into small businesses and earn interest on your investments, lending with Bitcoins is a great way to go.