What is Bitbond About?
Radoslav Albrecht founded Bitbond in the year 2013 right at the center of Germany in the city of Berlin. Albrecht is not just the founder but also the CEO of Bitbond. The million dollars question is this, how much money can you make lending and investing your bitcoin on this platform?
As much as crypto-currency is slowly colonizing the entire world, those interested in benefiting from the same have problems identifying the right one.
Many people are mostly concerned with the legitimacy of the many sites that are popping out now and then. Bitbond as one such platform you are probably wondering whether it is a scam or legit. I understand why the answer could be so dear to you. Unlike many others, the features are more advanced.
Besides investing, one is at liberty to borrow or loan bitcoins. What about I take you through it with the Bitbond Review. This Bitbond Review will unveil what you need to decide whether it is worthwhile or not.
Bitbond.com is a website that offers a platform whereby people can engage in peer to peer lending.
One can choose to lend or borrow Bitcoins depending on what he or she prefers.
You can also use its auto invest feature in flourishing. Through the platform, one can also learn about Bitcoins and tips on how to invest smartly. Either one of the users enjoys a set of features.
- As a user, you can borrow Bitcoins as long as you have a device and internet connection. Your location will not be a hindrance to you doing the task.
- As far as the origination fee is concerned, the rate is between 1% and 3%, and it is affected by your creditworthiness.
- On average, a fast loan can be awarded to you at a rate of 20%. However, the interest rate can be as low as 7.7%.
- The minimum amount of loan is BTC 0.1 while the maximum depends on the borrower’s credit details.
- You can have only one loan at any particular period.
- There are no service charges.
- For the sake of your money’s security, Bitbond investigates each borrower and puts them in various groups labeled A to Z.
- The website has not only a simple set up but also an auto invest option.
- Despite it being global, it is a guarantee that you will transact as soon as the need arises and the fee is relatively low.
- The lowest amount of money that you can invest is $2.
Benefits of Bitbond
- The subscribers are in total control of their actions and not the platform unlike most of the rest.
- With the incredible user interface, navigating is simple, and there is an ease when using.
- You can choose to borrow or sell Bitcoins.
- In addition to that, there is an auto invest feature that can help in a great way to better your life even without business knowledge.
Is Bitbond Restricted to Specific Countries or Not?
It is a service that is not restricted to any country. That means that you can join its fraternity regardless of your country or state.
That is good news given the fact that in most countries, bank loans are no longer reliable.
How to use Bitbond For Borrowing
On the landing page, press the Apply for a loan button.
Click the link sent by the team in your email.
Fill in your personal information in the first form and the financial data in the other one. The more convincing and verifiable the money-related details are, the better the ratings.
You proceed to the video verification part. A security officer will guide you, and an identification card is mandatory. A proof of address as well.
The validation process is online. The latter should not be more than three months old.Successful process rates you, unlock the account and you are almost viable for a loan.
You can borrow bitcoins after that by clicking the Get a Bitcoin loan button The term, intended use and a detailed description of the purpose of the loan are needed. Then, upload it for lenders to see it.
How to use Bitbond To Lend
Create an account with them and validate your email.
Armed with your passport or national identification card which should be valid. Carry out an online video verification.
Load your account with Bitcoins.
From the list, place a bid on credits you would like to fund.
You should expect a successful bid or otherwise. Subsequently, if after two weeks are over the auction amount is more than 60%, there will be the acceptance of your proposal.
Keep posted on your results to see how your earnings are proceeding.
You are at liberty to withdraw the funds or continue investing with the same for more.
Do I Recommend Bitbond?
Bitbond is something that I can recommend because it is a legitimate place where you can borrow as well as invest.
The user interface is user-friendly, the charges are relatively low, and it is a regulated company. In addition to that, they have a way to recover debts.
For the borrowers, the loan comes in different currencies. Therefore, it is an excellent investment and a banking partner.
Payments methods supported by Bitbond
You have two options to transact with Bitbond.
- Deposit Bitcoins.
- Transfer money from your bank.
- Bitcoins is the currency for all payment transactions.
- Loaners get bitcoins, US dollar, European euro or Kenyan shillings among others.
Fee Structure changes on Bitbond
There is the origination fee taken out of the loan awarded before its disbursement into your account. Depending on the loan term and amount of loan, the charges are as follows.
- Six weeks: 1.0%.
- Six months: 1.5%.
- 12 months: 2.0%.
- 36 months: 2.5%.
Other charges may be due to faulting. They are the late payment interest of 5% and arrears fees.
Once your loan is repaid, Bitbond charges you a repayment fee of 1.0% of the total, i.e. interest and principal’s sum. That is regardless of the loan term.
Customer Support on Bitbond
In case you need assistance, you can contact them via email address service@ Bitbond.com. The customer support is abundant.
You can go to the FAQ or email them. The email system uses tickets. People seem okay with their support.
However, someone raised a concern because she could not get a verification code and it took quite some time to get the help.
Online Opinion or Public Opinion of Bitbond
It has been an idea that many people have welcomed warm-heartedly. The site is a savior hand to ignore according to many people.
It is almost incomparable with any other cryptocurrency website. Having deviated from the norm, it does its things differently. Instead of exchange, it is about borrowing and lending of Bitcoins.
Other Ways You Can Make Money With Bitbond?
Many people can testify just how much money they have made, and they have Bitbond to thank.
By lending people, they return your Bitcoins with some interest. Likewise, if you borrow, you can use it to invest somewhere else and make a profit out of it.
Other major ways to earn good money online with Bitbond are:
Referring Friends to Bitbond
You can make a lot of money referring a friend and relative to Bitbond website for a commission, for every borrower invited to this platform you will be paid 20% while you will make 30% from every lender you invited to this platform.
Become a Blogger Promoting Cryptocurrency and Bitcoin
Becoming a blogger can turn you into a financially independent person. You can be making over $20,000 monthly if you do it right and most especially if you learn the Art of Blogging in the right place. Just like the place I learned mine.
Making money online blogging about anything you love is a great way of making money online. I am having a friend of mine that is making huge money playing video games online. You can be promoting Bitbond and other cryptocurrency websites in the process earning commission for every referred you make.
What I Like About Bitbond
- As an investor, they charge me nothing.
- Apart from a repayment, a loan’s disbursement is in different currencies.
- The lettering of the borrowers informs you on the risk that you are getting in.
- There is a system whose purpose is to recover unpaid loans.
- Converts Bitcoin into USD and vice versa issues.
Issues with Bitbond
- If they do not invest in Bitbond themselves, one would worry about what the future then holds.
- They offer a loan volume relatively lower than that of the competition.
- To use auto invest, you require I BTC which is high and the minimum bid which is 0.01 BTC is a turn off for the novice.
Who is Bitbond for?
Are you interested in investing in Bitbond? This site is an excellent platform since you lend people money and on returning, it comes with interest.
For fast and hassle-free loans, this is also a place to be. If you are not interested in lending or buying Bitcoins, I am afraid that they have nothing else to offer you.
Alternatives to Bitbond
Besides Bitbond, other sites are offering the same service include BTCPOP, KIVA, and BTCJam among others.
My Final Opinion on Bitbond
From those who have a firsthand experience with Bitbond, it is legit. If the statistics are something to buy, then this is an opportunity to take your livelihood to the next level.
Borrowing has also been made possible. The bankless and those who cannot access loan from their banks have a place that they can call home for sure.