Review on Bonorum by Pedro O. Alvino M.
P2P platform loans backed by cryptocurrencies.
The financial ecosystem opts for multiple functions that allow investments to obtain the capital that they require instantly, in a certain way there are several platforms and institutions that can offer these services, however most of them are limited for some countries in addition to meeting requirements many more demanding, but thanks to the incorporation of Bonorum it can be a viable option for crypto currency loans with the KYC verification process.
The benefits it provides for new users, is an interest rate that is generated by the deposit of the currencies admitted to the platform, as well as this includes stable currencies that partially this can be transferred to a bank account either through SEPA or SWIFT.
The security and data protection is under the SSL protocol, which also under the functionality of the blockchain, all transactions are confirmed in a secure way and with the minimum possible cost.
Pros
- Offers crypto-backed instant loans.
- All deposits and loans are in established or stable currencies.
- All accumulated or borrowed funds can be easily withdrawn by bank transfer such as SWIFT or SEPA to a bank account.
- It has a bonus of 15% annual interest per deposit either in main cryptocurrencies or stable currencies.
- Associated with bitgo as an asset custody and payment method.
- All data and transactions are protected with the SSL protocol.
Cons
- KYC document verification is delayed in some countries.
- They are not the only ones focused on crypto-based loans.
- Relatively new project.
