Cryptographic currencies are gaining widespread popularity in the cyber space. Coming down to the real-life setting, a different scenario is replicated. Many people have found it hard to use cryptocurrencies same way they use fiat currencies.
It is surprising that a currency as this with a $290 billion value remains neglected. Despite improving on its transactions from initial $100 million daily transactions to $6.6 billion, cryptographic currencies are not in the good books of financial experts.
The seeming hatred for the currency was borne out of its ease of access. Cryptocurrencies cannot be used in real-life exchanges such as collateral and purchase. The core reason why this continues is because cryptographic currencies do not have any physical setting. Also, they don’t come in fiat forms but are rather digital/abstract. The main problem with the currency is inability to be used as collateral for loans. Many decentralized platforms aim at resolving this issue and eCoinomic is one of such.
eCoinomic: Solution to Crypto Exchange
The main aim of this unique project is to broker ways for crypto-loan exchange scenarios. The platform seeks to make cryptographic currencies collateral for fiat loans. This would seem a daunting task and so it is.
eCoinomic bridges the gap by offering loans in fiat currencies to its users while collecting their cryptocurrencies as collateral. The days of getting embarrassed at banks when you offer your currencies in your digital wallet as collateral may soon be over if this platform commences operation.
Features
Part of the problems encountered when offering your digital currency as collateral arose from uncertainties on its volatility. Because cryptocurrencies are traded on daily basis and their prices shoot to the sky, their volatility gets up as well.
Again, this project bridges the gap by giving you 30 days window period to refund the loan. The interesting thing is its short term loans attract only 10% interest for a year.
Token Sales Information
Token Symbol: CNC
Token Standard: ERC-20
Platform: Ethereum
Price: 1 CNC= $0.12 USD
Soft Cap: 6, 000, 000 USD
Hard Cap: 106, 000, 000 USD
Accepted: ETH, LTC, XRP, ZEC, BCH, XMR, BTC and NEO
Country of Registration: Estonia
Restricted Areas: China, Singapore and the USA
eCoinomic’s Team
Bottom Line
eCoinomic is unique. Out of many platforms out there, this project is one with solutions for real-life adoption of cryptographic currencies. Though many financial platforms refuse offering loans and taking cryptocurrencies as collateral, others offer. The downside to the latter is you don’t get back your cryptocurrency at the same rate it was when you offered it up.
eCoinomic did a great work to this regard. The platform keeps your cryptographic currency and offers you fiat currency loans. When you return the loan, you get back your cryptographic currency at same rate as you sold it.
The only source of revenue for this project is interest rates per loan. This is commendable. The next time you want to trade your cryptographic currency or use it as collateral, eCoinomic is a platform worth considering for such service.
For more information, please visit
Website: https://ecoinomic.net/
Whitepaper: https://ecoinomic.net/docs/whitepaper
Telegram: https://t.me/ecoinomicchatroom
Twitter: https://twitter.com/Ecoinomicnet
Facebook: https://www.facebook.com/ecoinomic/
Ann thread: https://bitcointalk.org/index.php?topic=2878954
Author's bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1820069
Author's bitcointalk username: Lynkels