ECoinomic: The Financial Service Platform for Crypto Holders

Soon after the development of the Blockchain technology, digital assets in form of cryptocurrencies came on board also. The Blockchain technology had so far gained acceptance in some financial institutions and has succeeded to integrate cryptocurrencies into the banking and finance system.

A recent research showed that thousands of cryptocurrencies are in existence and have an estimated value of over $350 billion. In the same vein, crypto investors know there is the possibility of cryptocurrencies topping the chart with about $1 trillion by the year 2022.

But sadly, most countries and channels are yet to accept it into their system.
Many crypto investors regard cryptocurrencies as a viable collateral for loans. They believe cryptocurrencies have the ability to function as securities. The essence of considering this option is the diversification of cryptocurrencies modus operandi which is the purchase and liquidation of digital assets.

The Lingering Problem
Cryptocurrencies are indeed valuable assets that are viable for collaterals. Its problem however lies on its limited scope and functionality. Cryptocurrencies at the moment have limited acceptability. All around the world today, financial institutions and platforms find it rather hard to accept it as collaterals in exchange for loans. This leaves crypto investors with a simmering problem: limited access to funds.

From another perspective, cryptocurrencies cannot be withdrawn so its users and investors are left with the option of selling off some in exchange for cash. There is then another loophole at this juncture: the high volatility associated with cryptocurrencies makes this impossible as the value of cryptocurrencies keeps soaring almost at hourly intervals.

Assuming investor John trades off some of his cryptocurrencies to investor Williams to solve an immediate problem, the possibility of purchasing the same quantity sold out at the same rate is impossible.

The third prominent problem with cryptocurrencies arose from its volatility. As its value soars, investors literally struggle to meet up with its demand. In the event of increase in cryptocurrencies’ value, crypto investors and owners solicit for additional funding for their crypto business. This usually poses a problem as most times, these investors are short of cash and since no financial institution will accept their digital assets as collateral, they are left with no other source of funding except if they otherwise choose to trade off some of their cryptocurrencies.

The Loan Process
Crypto investors have the options of soliciting for loans from either financial institutions or private investors. In the case of banks, their processing much time and most times, loan applications are not considered because of certain factors such as inadequacy of the client’s credit history. But the probability of getting to the point of loan consideration is not possible for crypto investors as cryptocurrencies are not regarded as effective collaterals.

The next option (private investors) could have been better but for the non-transparency and insecurity posed by private investors.

How can these problems get solved?
The solution is simply the provision or development of a platform that accepts cryptocurrencies or other digital assets as collaterals pending the payment of specified loans. That platform had been found in Ecoinomic.

What is Ecoinomic?
Ecoinomic was developed to solve the problems associated with cryptocurrencies and its subsequent collateralization. Ecoinomic offers crypto investors the opportunity to use the cryptocurrencies and digital assets as collaterals.

The platform lends fiat currencies to individuals, small businesses and crypto investors as well and accepts digital assets as collateral. So if you’re a cryptocurrency user or had the thought of selling your digital assets to generate funds for your business and other needs, you should discard the thought of doing so. Ecoinomic offers you loans with your digital assets and cryptocurrencies as collaterals.

Economic now bridges the gap between financial institutions and borrowers by offering borrowers the needed service (loan) while taking up the risk that is associated with such transactions. According to its developers, Ecoinomic’s goal is “to enter and develop a new market niche-fiat loans against crypto assets collateral”.

How does Ecoinomic work?
Because of the volatility of assets, Ecoinomic came up with a concept that will be favorable for its users. Ecoinomic offers its users a 30-day ultimate to repair any short term loan. Its short term loans come with a 50% loan to value ratio and an additional 10% interest every year.

Ecoinomic offers many financial services to crypto users and holders such as:
• Exchange
• Fiat loans that accepts cryptocurrencies as collateral
• Investment and asset management
• Transfers and mutual settlements between users and partner projects.

Ecoinomic users are at liberty to select from varieties of services such as:
• Financial transactions, exchange and collateral management
• Hedging the exchange rate risks for crypto assets
• Long-term and short-term investments in fiat money
• Secured and unsecured loans based on fiat money
• Fiat money transactions and virtual cards issued by crypto assets.

TEAM


To view the rest of the team kindly visit the Ecoinomic Website.

ADVISORS

PARTNERS

CONCLUSION
Ecoinomic is certainly the best thing that happened to cryptocurrencies. You can now get a short or long-term loan and use your cryptocurrency as colateral. You don’t have to bother about the prospects of getting your sold cryptocurrency back at the same rate you sold it. The volatiltity of cryptocurrencies doesn’t matter on Ecoinomic as you get the same quantity of cryptocurrency you issued as collateral at a very good rate.

To find out more about eCoinomic, kindly visit the links below:
Website: https://ecoinomic.net
Whitepaper: https://ecoinomic.net/docs/whitepaper
Blog: https://medium.com/ecoinomic
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2878954

SOCIAL MEDIA
Twitter: https://twitter.com/Ecoinomicnet
Facebook: https://www.facebook.com/ecoinomic/
YouTube: https://www.youtube.com/c/eCoinomic
Telegram: https://t.me/ecoinomicchannel

Writer: Collinberg
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1532780