Considering how much bureaucracy goes into getting a loan, it is not surprising that peer to peer lending has become so popular. It leverages tech platforms to allow users to negotiate and enact loans between themselves. One of the more promising developments in recent times is that of how blockchain technology can make this kind of lending more efficient and secure. Blockchain technology is both secure and transparent, which dramatically reduces the risk of fraud in the industry. Furthermore, features like smart contracts can automate and guarantee the functioning and integrity of agreements.
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Bitstrades is a platform that is designed to allow easy and secure peer to peer lending. Furthermore, the platform has an investment and trading dimension to create more revenue streams for users.
Bitstrades uses an advanced dashboard and interface to ensure easy functioning on the platform. Their site gives the crucial description of the core functionality:
“Once the process to deposit BSS in your wallet is completed, go to your dashboard and click on the “Lend” button. Immediately there would be an option to select Bitstrades investment where you have to enter the amount (EURO or BSS) you want to invest. Once you are done with this step, you have to accept the terms and rules in the consecutive form.
Hit “Pay” button, the next page asks you for the confirmation and you have to confirm using the confirmation button. As soon as your transaction is successful, your account is ready to get return on investment from the Bitstrades lending platform.”
The same kind of user interface is beneficial in their overall investment user experience, explains the website: “A software is involved which calculates the interest rate incurred on your investment on a daily basis. Lend Bitstrades Coins in Bitstrades lending platform exclusively from the Bitstrades Dashboard and investment will lead to profiting from Bitstrades trading bot and volatility software. Upon investment term completion, you will receive your Capital back to take out from the Bitstrades lending platform or optionally reinvest back in lending a platform to continue receiving daily profit.”
A decentralized ecosystem
Bitstrades is clearly aiming to position itself as a complete platform that both links users together and also leverages economies of scale to make both lending and investing possible. The Bitstrades ICO raised millions in funding and now the BSS token is available for trading.
Bitstrades team promises to provide services with low transaction fee and take care of the security. Furthermore, the transactions will be made instantly. “We know your time is precious. Send Instant Payments and get the confirmation within a blink of your eyes. Virtual banking and stand out from the crowd.”, – bitstradescoin.com team says.