Creditcoin (CTC) - a token for loans of all cryptocurrencies

There are a few cryptocurrencies that make it easier to lend and borrow, but Creditcoin (CTC) it definitely stands out at the forefront of popularity. What made it all about it, is a catchy name all that and how to make money on what others are already doing? We check how the Creditcoin cryptocurrency works.

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for Creditcoin - a cryptocurrency with a capitalization of over USD 2,2 billion. 

How Creditcoin (CTC) works

Creditcoin works on a principle that we know in Poland, e.g. from probably the most aggressive advertising company Coconut. Its community is made up of users who lend to others and those who take out loans. Of course, everything except the banking sector.

The Creditcoin cryptocurrency (CTC) has the same principle of operation but in the world of cryptocurrencies. This is an excellent solution for those who do not have creditworthiness, because, for example, they have earned millions on cryptocurrencies, but no bank will give them a loan, because ... they do not have a full-time contract and a monthly payment agreement of 5. PLN gross. How about the fact that their wallet has cryptocurrencies worth a few houses with a swimming pool? It doesn't matter to most banks - at least not yet. 

Creditcoin is not just another cryptocurrency that was created only to debut and attract investors with a catchy name. It is a loan platform that is also extensive enough to allow loans in between blockchains, but also simplified enough to make its use easy and intuitive. 

Taking out loans in the CTC cryptocurrency might seemingly not make much sense - especially since it is a new token. Therefore, its creators chose CTC as the main token of the system, but through it you can borrow (and also grant them) to users who have other cryptocurrencies. At CTC, you can take a de facto loan between blockchains, even those that have not cooperated with each other so far. Regardless of the cryptocurrency we have, thanks to CTC we can take out and grant loans. 

The Creditcoin network does not take into account the credit history of traditional banking, but creates its own. Each loan ends with a rating - depending on whether it was repaid without any problems or there were, for example, some slippages or other problems in payments. Theoretically, we may not even have a chance to get a loan in cryptocurrencies - if the lenders decide that we are not reliable. And, as you know, in the blockchain world, there is no room for mistakes and interpretations. 

Tailored loan offers

No, this is not a slogan that must be used by bank representatives at all costs. In this case, the system itself adjusts the offers to what we are looking for. This works both ways, of course. So we set the amount, as well as the interest rate that we accept and the preferred security, and we only see the offers that are closest to the data we have entered. 

Offers are placed in the CTC cryptocurrency, so this fact alone makes the demand for it grow along with the growing interest in the project. The system automatically verifies all parameters and approves the offer received by other contractors. Lenders - even after positive verification of borrowers - can decide whether to lend them their funds. 

CTC cryptocurrency quotes

Creditcoin Tokens are currently available on two cryptocurrency exchanges. There are 564 of the target 970 tokens in circulation. You have to pay $ 555 for each of them, which translates into a capitalization of over $ 667 billion. The CTC peak was on August 469, 387, when $ 3,94 was paid for each token.