Review on Bitbond by Matthew Allen

Bitbond does great job building its brand around fintech and cryptocurrencies, especially Bitcoin. And when it comes to new tech startups, this is probably the best option if you want to get fast loans. All lenders on the platform use automated credit scoring and matching algorithms so you will be offered loans faster than ever before. In order to make sure you don’t get stuck in debt and miss payments, you’ll be required to put down a security deposit equal to 5% of the loan amount. The average loan term is about 2 years, but Bitbond doesn’t charge any fees to borrowers. It takes less than 24 hours to approve your application and you’re usually provided with the money within 4 days. Once you receive the funds, you have access to them instantly. There is no waiting period and no hidden charges. The site also offers a number of other financial services such as insurance and prepaid cards. As you might expect, Bitbond offers great interest rates for short-term loans. But the biggest advantage is that you don’t need collateral and can borrow even without having an active bank account. All you need to start borrowing is $1,000 or €750 (for residents of Germany).