Money Token - Crypto asset backed smart loan platform

Money token is a cryptocurrency backed smart lending platform. In money token you can get loan based on your crypto assets like Bitcoin, Ethereum, Litcoin etc. In the tradition system in which you can get loan based on your credit score, based on your physical assets like property, gold or home with proper documentation. Today cryptocurrency market is on the rise but it is volatile. Because of volatility no bank will provide you loan based on your crypto assets. Most lending systems are unwilling to accept volatile assets such as cryptocurrency as a collateral. Money token platform acts as an intermediator to provide cryptocurrency backed loans between individual lenders and borrowers. Money token is creating a lending model using cryptocurrency as a security deposit. With the use of secure and transparent blockchain technology money token wants to build a new credit market where loans are backed by crypto collateral.

How Money Token Works ?

In the present scenario you will get loan only based on your physical assets like gold, property, home etc. But if you have some crypto assets and your want loan or money the only way is to sell your crypto assets and get money. But money token platform is providing you loan based on your crypto assets. For example if you have 1BTC as crypto asset and you want some loan based on your crypto. Then you have to send your 1BTC crypto asset to the money token platform, here your 1BTC crypto asset will be 100% safe. For 1BTC you will get loan amount equal to 0.5 BTC for a certain duration with interest as specified by the money token client. And thus you will get loan based on your cryptocurrency. Now once the loan period ends you will have to repay the loan amount with interest. After the successful repayment you get your crypto asset back i.e you will get your 1BTC back. Even if the price of your crypto asset rised you will get the same amount of crypto back.
So what if the price of your crypto asset falls ? If the price of crypto falls below the price at the time of getting loan then we have to pay off the loan by selling part of the crypto asset at the current market price and remaining part of the crypto asset deposit will be returned to the user’s account.

Is Money Token platform safe ?
Money token platform uses Ethereum based smart contracts to secure terms of agreements. The collateral funds deposited in the money token platform are protected by multi signature wallet which requires 3/4 signatures to access.

• 1 signature - the Borrower
• 1 signature - the Lender
• 2 signatures - MoneyToken as an Escrow agent
• 3 out of 4 signatures are required.
  All the multichain transactions are available for the future which makes money token a fully decentralized platform.

Team -
The money token team is so solid. It has Roger Ver founder of Bitcoin.com and many other week experienced advisors which makes money token a solid project.

Advisors :

Money token is a real use case project. Which will change the lending world. By this diversification of crypto asset become easier. It's a solid project to invest for the future.
To know more about money token just visit their site here : https://moneytoken.com

Read whitepaper : https://moneytoken.com/doc/MoneyTokenWP_ENG.pdf
Bitcointalk : https://bitcointalk.org/index.php?topic=3407082.0

Join Telegram : https://t.me/moneytoken
Twitter : https://twitter.com/MoneyToken
Facebook : https://www.facebook.com/MoneyTokenOfficial/
YouTube : https://www.youtube.com/channel/UCz9r7r5BSoq4eE6guMa7P-w

About Author : Abhijeetcg
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