Dear PointPay Community,
We are thrilled to announce the launch of the PointPay Crypto Loan Module: https://bank.pointpay.io/instant-loan. PointPay clients can take instant crypto loans that are backed by their crypto collateral.
How it Works
- No credit history required to take out a loan;
- Currencies that are currently represented in PointPay Crypto Loan Module: Bitcoin (BTC), Ethereum (ETH), Tether (USDT);
- The loan term is set by the client between 7 days and 3 years;
- Choose the ratio between the loan amount and collateral (LTV) between 20% and 70% — it is up to you :)
Are there any loan discounts for PointPay token holders (PXP)?
Yes, sure. The standard daily interest is currently 0.06% (21.6% annually). PointPay token holders (PXP) receive lower loan interest rates on a progressive scale according to the table below. The discount percentage is based on the total amount of PXP tokens held in both Checking and Savings accounts in PointPay Bank at the time of receiving the loan. PXP tokens can be purchased through the PointPay Token Sale Platform to reduce the daily loan interest rate upon receiving it.
- 5000 PXP — 5% discount from a standard daily loan rate;
- 10,000 PXP —10% discount from a standard daily loan rate;
- 25,000 PXP — 15% discount from a standard daily loan rate;
- 50,000 PXP — 20% discount from a standard daily loan rate;
- 100,000 PXP — 25% discount from a standard daily loan rate;
- 500,000 PXP —30% discount from a standard daily loan rate;
- >1,000,000 PXP — 40% discount from a standard daily loan rate.
Buy PointPay Tokens (PXP) to reduce your loan rate on PointPay Token Sale Platform: https://pointpay.io/buytoken
Read PointPay Crypto Loans FAQ for more information: https://bank.pointpay.io/instant-loan
How to start borrowing?
Open the PointPay Instant Loan page in PointPay Bank.
- Set the amount to borrow;
- Check if you have enough crypto collateral in other cryptocurrency;
- Choose the loan term and the preferred Loan-to-Value (LTV) rate;
- Accept PointPay Loan Service Agreement and get a loan :)
Quite soon PointPay token (PXP) will be integrated into some other features of PointPay products. Hurry up to buy PointPay Token at a low price now: https://pointpay.io/buytoken :)
