May 13, 2018: If you’ve ever wished that you could gain more from your idling cryptocurrency portfolio without having to sell it off and miss out on any upside potential, then Kambo is the answer to your problems.
Disclosure: This is a Sponsored Article
Launched this week, the Kambo platform provides loans for users that are secured using Bitcoin (BTC) and Ethereum (ETH) as collateral, similar to how a mortgage is collateralized by the home itself. The best part is, signing up is as easy as filling out an application and providing the necessary onboarding documentation. Once you’re signed up, simply transfer your cryptocurrencies into a Kambo wallet (where they will be placed into an escrow account at exchanges that Kambo has partnered with) – after that, you’re ready to apply for a loan! Kambo does not require cumbersome background or credit checks.
Interest charges start at the early-bird rate of 14%; interest payments are due monthly and can be repaid with either cryptocurrencies or fiat currencies. There are no hidden fees associated with Kambo loans (like the 1% origination fees that are typically associated with financial services firms), and there are also no prepayment penalties, which means that borrowers are free to repay loans at any time without incurring any pesky fees. Minimum loan amounts are $1,000 USD, and maximum loan amounts are reviewed on a case-by-case basis and can go up to $500,000 USD per borrower.
The Kambo platform is ideally suited for long-term cryptocurrency investors looking to diversify their portfolio and monetize their assets (gathering virtual dust!), speculators interested in leveraging their portfolio, to short-term investors seeking to minimize their capital-gains taxes. Kambo is also a perfect option for start-up companies with ICO’s who are in need of fiat currencies to fund their operational expenses.
Unlike most blockchain startups, Kambo has a working product (along with an iOS app), and is a spin-off of its established and regulated parent firm GK Group, which owns the FCA-regulated MyKredit and GKFX entities. The GK Group has achieved tremendous success since its founding in 2010, and has grown into a global financial-technology firm with offices in over 18 countries and a workforce of over 1000 employees. The GK Group is well versed in lending, and has issued over 29,000 loans since 2015. Kambo intends to leverage its management team’s technical knowledge and expertise in lending in enhancing its operations. Because Kambo is part of an already established financial technology group, it will not require external funding or fundraising in the future, and will not plan on making an ICO.
What are you waiting for? Join Kambo, and allow your assets to start helping you today.