The already mentioned bitcoin enjoys great recognition abroad and will soon appear in Poland. I am talking about one of the cryptocurrencies that operates independently of banks, institutions or governments. What’s more, it is available everywhere we can use the internet. We can use it by skipping banks and intermediaries, so that we will avoid limits and restrictions.
Financing projects using cryptocurrencies is enjoying growing interest. An example here is Bitbond, which is a bitcoin-based social lending platform. This start-up has USD 2 million in funding and will soon be in Poland for good. The product proposed by its creators in the form of social loans is to be addressed to small and medium-sized enterprises. The success of this type of solution is reflected in the numbers. Bitbond has already carried out over 1.6 thousand. transactions, and this type of bitcoin loans have already been granted for a total of USD 1.2 million. This is quite an impressive result, which bodes for a start-up fruitful future.
Bitcoin loans – what are they about?
Contrary to appearances, the operation of start-ups such as Bitbond is not complicated. It is mainly based on taking advantage of the opportunities offered to us by the network. Financing entities and companies looking for capital are connected via the Internet. Bitbond’s task is to assess the risk and determine the interest rate. It does so based on many indicators. Among them we can distinguish among others data, payment history or opinions of internet users published in social media. 70 thousand currently use Bitcoin loans via Bitbond. people. This is an impressive number that shows great interest in this option.
Introducing the solution in Poland
As for Poland, this phenomenon needs time to come into existence for good. We have social loan companies such as British Iwoca, but they do not apply to cryptocurrencies. The operator that provides services in the online currency is InPay, which works with large brands that are recognized on the Polish market. If there are social loan providers in Poland, they usually operate under British jurisdiction. For this brand, the amount of crowdfunding is 200 bitcoins, or about PLN 1 million.
“The development of cryptocurrencies in Poland depends on several factors. Investors fear ambiguities in the context of tax law, and many of them are waiting for the introduction of further algorithms that will help minimize the risk. Nonetheless, social loans have their enthusiasts.