Lately, the use of cryptocurrency has changed. This digital money has become more like assets rather than tools for buying goods or services. Mostly, both users and miners choose to hold their cryptocurrencies rather than use it.
Then we are brought to the trading market. Here, cryptocurrency is not only your average fiat replacement but also a long-term investment. The buying low-and-selling high rule is used by both of investors and miners when they trade. So they purchase the digital currencies with low price, hold it for a period of time until the price is high, and gain profits by selling it at a higher price.
The problems start when people want to trade, but feel too heavy to sell their assets. The only way is by borrowing money. Unfortunately, even though the government of several countries have allowed the use of cryptocurrencies, the traditional banks still do not want to offer their loan products or services for the sake of cryptocurrency business or cryptocurrency holders. They also do not accept the digital currency as collateral for the loan since they haven’t seen it as an asset. Now the question is: Then who will support these people in need?
Money Token Offers the Solution
Money Token is a platform which will support the people in need by enabling smart loans backed by crypto assets. Here, the users of Money Token could get a loan without any cumbersome process they usually meet at the existing fiat financial system.
They can simply take out a loan which collateralized with their digital assets such as BTC or ETH. Then, Money Token will give an amount of loan in a stable currency. After the repayment, they could get their digital assets back.
You can find the use case of a miner who wants to take out a loan and collateralize his cryptocurrency to lower the loan risks. Also, find the answers of several related questions such as: What if the Bitcoin rate of exchange drops? How can borrowers secure themselves and diversify the risks? And What can we do with stablecoins?
The token code for Money Token is IMT (Initial Money Token). IMT is a utility token which will enable the token holder to join the lender or borrower membership on the platform. For your information, the total supply of IMT is limited and additional mining is prohibited.
The good news is, the token sale of IMT tokens is still live until June 6, 2018, with each token is priced $0.005. After the token sale, IMT tokens will be available for retail sale on the platform, but the price will be ten times higher, at $0.5. That’s why if you are interested to purchase the IMT tokens, you’re better to take the opportunity on its token sale to get the cheaper price.
Make sure that you understand what kind of project or platform you are going to join in. Please read the whitepaper and do not miss any important parts. Also, you are highly recommended to consult with your legal, financial and tax advisor before you take any action toward the ICO.
- Bitcointalk: 135cc
- ETH: 0x002a3C863a9C8C918FfDAfB3E9E09a18F12C99Df