At Bitbond, we aim to provide our community with as much transparency and information as possible! We do this because we believe that transparency is conducive to trust, and showcases our unique advantages to the public. The €200,000 funding of last year added to the €600,000 raised in May 2015 has allowed us to build on our competences and provide a smooth p2p bitcoin lending and investing platform, opening up great opportunities. While we grow our technical know-how it is important for us to reassure and build our community, by providing information and answering common questions.
This blog post is designed to answer some of the common questions and give you an overview of Bitbond. If you prefer a visual guide, why not have a look at the infographic below. For step-by-step guides for borrowing and investing please visit our help page.
Q: What is Bitbond.com?
A: Bitbond is a global p2p bitcoin lending and investing platform.
Q: Where is Bitbond located?
A: Bitbond is headquartered in Berlin, Germany.
Q: How many people work for Bitbond?
A: There are 8 Bitbond team members. For more info please visit our about us page .
Q: Why do you use Bitcoin?
A: Bitcoin enables high-speed, global payment transactions with minimal fees. P2P lending sites using fiat (ie. currency used by the government to collect tax) cannot operate internationally. This is because using ordinary currency across borders is expensive. Non-digital currencies incur heavy exchange and transfer fees making it impossible for normal investors to fund business-owners internationally.
Another reason we use Bitcoin is to avoid regional political and financial turmoil. As the banking crisis in Cyprus and Greece have shown, it is now no longer unusual for A.T.Ms. to ration cash and banks to shut down. Bitcoin is therefore the obvious alternative, as the decentralised ledger system prevents any one party taking, loosing, or impeding your money, giving you complete control over your finances.
Tl;dr: We use Bitcoin to protect our community from political and financial turmoil as well as to enable global lending and investing. For more info check out our Bitcoin Adoption blog post.
Q: Why does it need to be international?
A: Let’s look at an example. An entrepreneur located in Kenya needs funding for his business. His region is underserved by the banking system, making it impossible to get a bank loan. Our entrepreneur informs himself and realises that there is no one with the financial assets or willingness to fund his business in his city or even country. What can he do in this position? Well, through Bitbond he can access global working capital.
McKinsey recently reported over 2.5 billion of the world’s adults don’t use formal banks or semiformal microfinance institutions. This means that unbanked entrepreneurs in East Asia, South Africa or the Middle East could never gain business funding through traditional means. Lacking a bank account, financing for small business owners is close-to-impossible. Through the power if Bitcoin, Bitbond offers a solution.
Q: Who has invested in Bitbond?
Q: Where can I find out more about Bitbond?
A: Bitbond endeavours to be as visible as possible to the public. For news coverage about us, please check out this article in Forbes, this podcast with our CEO Radko Albrecht, this interview with our Marketing guy Chris, or alternatively this guest post in bitcoins99 regarding bitcoin vs fiat loans. There is also this cool video of bitbond at Finovate and LendIt.
Please leave a comment with any other question you might have and I will endeavour to update the post with an answer. Enjoy the Infographic!