The project aims to offer cryptocurrency holders access to loans backed by digital assets.
Sometimes we need money ‘now’. Even wealthy people and businesses can find themselves in strained financial circumstances if their assets are tied up in long-term investments. Cryptocurrency holders are in a unique position. Considering that the price of most digital assets has grown manifold over the past year, many owners dislike the idea of selling their investments to cover daily expenses. However, no bank or traditional financial institution will grant them loans with cryptocurrency assets as collateral.
The Bonum platform will remedy this situation by providing the opportunity for taking out loans both in fiat money and cryptocurrency backed by digital assets and earning interest on crypto deposits. Loans and deposits are fundamental pillars of a financial system although they are not yet widely available in the crypto economy, despite growing demand.
The Bonum platform offers three types of services:
Non-purpose loans both in crypto and in fiat money, are provided through the project’s licensed partners worldwide. You can spend the money as you wish. Digital assets are accepted as collateral though they never leave your wallet, and you retain full control over your holdings.
Purpose loans are provided to those who want to gain exposure to Bitcoin but do not have enough money for the investment. Bonum solves this issue. You need to pay 33% of the total amount, with the rest of the sum provided as a loan and the purchased Bitcoins kept on the platform until the loan and interest are repaid.
Crypto deposits are a way to put your digital assets to work and generate extra income. Interest rates start at 0.5% per month and are paid out at the end of each deposit period.
Bonum ICO details
Bonum’s fundraiser is scheduled to start on March 21. It will be live until June 23 or as soon as the hard cap of $30 million is reached. There will be 32.5 million tokens available for sale at a basic exchange rate of 1BFT = $1.00 with a minimum investment of $100. The company plans to allocate up to $10 million to an established reserve fund to ensure the financial stability of the project.
If you’re interested and want more details, visit the project’s official website or view their MVP. You can also subscribe to their updates on Twitter or Telegram.
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