Top finance dapps of 2019  - ETHLEND

Introduction

Human beings are special creatures that were meant to stick together. This means we sometimes need the help of other human beings to solve a problem. While growing up, they always taught me to be a good team member because no man is truly an island.
Giving help comes in different ways; taking a loan is definitely one of them. There’s always a possibility of having an urgent need. This urgent need might require us to take a quick loan in other to sort it out. Getting loans these days in conventional society is not an easy thing. It takes a lot of paperwork, collateral, and time to get approved.
On the other hand, giving out loans is also a good way of making an extra profit while offering a helping hand to people in desperate needs. That makes it a win-win situation for the two-party involved. This post will review a platform that enables its users to give and take a digital loan in a secure environment.
I know this platform as ETHLEND.

What is ETHLEND

I may define ETHLEND as the first cryptocurrency platform that enables its users to give and take loans in a fast and convenient manner.
It is a market place that connects both the lender and the person taking the loan.

How it works

The working mechanism of the site is easy to study and understand. The platforms give owners of the money the freedom to choose their interest rate. The beauty of this platform is the high rate of competition in terms of the interest rate. This has led to the achievement of a low-interest rate.
The lender then goes through the available loans and picks the one that suits his/her needs.

How to Get Started

The platform is easy to understand; therefore, getting started is simple.
Follow the steps below to complete the sign-up process.

• Visit their website on https://ethlend.io

• Click on “Get Started”
  

• Enter your Email address, password, country and mobile number.
  

• Click on submit
  They will send a confirmation email to your in-box, verify your account through the confirmation link.
  It will redirect you to the login page.
  

• Enter your email and password that you used during the sign-up process.

• Click Login.
  

Congratulations on your successful account creation.

The next step is to create, import, or use an external wallet.
For this post, I’ll use a brand new wallet.

• Click 'Create wallet'.
  

• Copy and store your phrase in a secured place.

• Enter your password and hit the create wallet option.

Once you are done with that, it will require your password to unlock the wallet.

You will be redirected to your account homepage immediately you successfully input your details.

At the homepage, you can decide to either click on the ‘Borrow’ option or the ‘Lend’ option.

Components and Features of ETHLEND

Simple User Interface

The platform is easy to use and understand. The buttons are clearly visible and depict their function. The platform is not buggy and loads fast. It is simple for anyone to engage and navigate.

The Borrow page

This is where users who are in need of loans can easily create their new loan request or browse from the existing market place. That means even the borrowers can set their own terms and still get funds from interested parties.

The Lend page

This is where users who are interested in giving out loans can easily create new loan offers or browse from the existing loan request market place. The lender can select his terms here while creating the offer.

The Dashboard

This is where all the user borrowed loans and funded loans can be found. Users can also view available open offers.

Advantages of ETHLEND

ETHLEND enables people in urgent need of cash to get quick digital loans in a fast and convenient manner.
It is the first loan platform that I have seen which gives room for the borrower to set His/her own terms in the transaction.

Disadvantage

I am yet to find any huge disadvantage of this awesome platform.

Comparison

There is no heavy competition in this section because we don’t have many platforms that are offering the same services.

My experience, Rating and Conclusion

I’m impressed by their services. I have placed my first loan offer and I highly recommend this awesome platform to anyone that is in need of quick cash or to anyone that is willing to make extra money via interest.
I suggest that they add Steem to a list of their currencies.
I give them a star rating of 5.0/5.0

Disclaimer: The views expressed in this article are entirely my view and do not reflect the mind or view of anyone else.

Resources

I wrote this post and all its contents based on my experience, research, knowledge, and personal use of the ETHLEND platform.
Most images are from my usage screenshots, and I provided links to all external images where applicable.

Links
Website - https://ethlend.io

You can also visit https://www.stateofthedapps.com/ to learn and have detailed information on lots of dapps on the blockchain.