How to Create and Post an Investment on CoinLend.ph
by Admin | February 10, 2019 | Share to:
With CoinLend.ph, any individual or legal entity can become a lender and grow their investments without any licenses. Lenders can also be able to lend on Coinlend.ph by creating and posting an investment and not just by choosing from Loan Applications posted by Borrowers.
In this article, we will guide you on how to directly create and post an investment on CoinLend.ph. We did provide an easy step by step guide with clear images to make it very easy for you (especially beginners) to follow and understand each process. Without more fuss, let's start.
STEP 1 - Go to "Post an Investment"
On the page titled Post an Investment under Finance and Loans category is where the lender must go to create
investment deals. When the lender creates an investment, he/she will have the full option to set his/her own terms.
STEP 2 - Set your own terms
When creating an investment, the Lender sets the parameters depending on his/her choice (amount, interest rate, period, etc.).
Note: Setting terms is quite crucial for the success of the investment. We recommend evaluating the parameters of other investment deals already posted on CoinLend.ph because borrowers choose the most attractive deals for themselves.
Here are the parameters while setting the investment terms:
- How much do you want to lend? – Here, the lender must enter the amount in PHP, the minimum is 5,000.00 and a maximum of 100,000.00.
- For what period you need the loan investment? – Lender must enter the number of days. The minimum loan period is 14 days. Coinlend.ph uses a 365 days per cycle where all days arecalendar days.
- What is the Annual Interest you wanted to be paid? – Lender must enter the amount of Annual interest rate. Minimum value is 1% and maximum is 10,000%. We recommend a rate of 15% to 20%. Lower interest rate just means higher probability to be approved by a borrower quickly.
- Discounted Collateral Value – The amount of the collateral in BTC depends on the discount rate. The higher the discount rate is, the lower the risk of margin call will be because of sharp depreciation in the value of BTC. A lender can modify the discount rate of each investments by themselves. The discount rate can be varied from 1% to 99%. Modifying the discount rate affects the risk of MarginCall.
While setting the parameters of your investment above, the system of Coinlend.ph will automatically calculate necessary BTC collateral for the loan.
STEP 3 - Choose Money Transfer Options for Repayment
Next step is the money transfer options Lender must choose the method by which the Borrower will transfer repayment
money to him/her. Please note, that regardless of selected money transfer option, third parties can charge commission
for transfer of money. Commission must be covered by the party sending money. Check cost of transfer before sending
money. It is also important that lender fills up the required forms with legit/valid details.
The currently available options are:
- BDO Bank Transfer
- Metrobank Transfer
- Cebuana Lhuillier Pera Padala (₱ 50,000.00 LIMIT of Repayment Amount)
- LBC Pera Padala (₱ 50,000.00 LIMIT of Repayment Amount)
- Globe GCash Transfer (₱ 30,000.00 LIMIT of Repayment Amount)
STEP 4 - Generate Keys
Next step is the Generation of Keys. Lender must click the button ‘Generate’ to start generating keys. Any keys used,
he/she will need to manually store it safely as they will be needed later to redeem BTC collateral just in case the
Borrower failed to comply with its obligations
STEP 5 - Settle Transaction Fee
After clicking the ‘Submit’ button, the lender will now be redirected to the page ‘Pay Transaction Fee’ where he/she
needs to settle the required transaction fee to be able to publish the investment. The transaction fee allows to increase
the level of the responsibility of borrowers and lenders. The transaction fee is collected by us Coinlend.ph every time
you place or accept a loan application.
Transaction fee for borrowing loans / accepting investments - is 150.00 PHP. Transaction fee for accepting loans / posting investments - is 175.00 PHP. Transaction fee is necessary to avoid accepting investments by borrower without actual intent to secure the collateral. It also excludes placing false investments bylenders.
Coinlend.ph utilizes a third-party payment service - CoinPayments.net whereas the user can pay either with Paypal, Credit Cards or with various cryptocurrencies. It is very important that during the payment process, the user must stay on the Payment Page until the transaction is ‘PAID’. If paid successfully, the user then MUST click the link ‘Go back to Seller’s Page’ or the button ‘Return to Merchant’ for us to successfully and automatically process the payment.
After settling the required transaction fee, the investment will automatically be posted to the page ‘Loan Opportunities’ and its status will now be ‘Waiting for borrower’s approval’. How quickly investment will be accepted by a Borrower depends only on attractiveness of the terms specified by the lender. The lender is only allowed to edit the investment if it is still not accepted.
Note: All investments posted will be automatically removed from the waiting for approval list after 30 days, if the Borrower doesn’t accept it. The lender’s transaction fee will not be refunded.
What to expect next? The lender will now just wait until a borrower accepts his/her investment deal.
February 10, 2019
As we all know, Bitcoin is proven as one of the most profitable investment instrument out there. Selling […]