Re: Australian Company Lends up to 500K from 1.5% per month. WORLDWIDE
Smells like a scam - don't use these guys unless a TRUSTED third party escrow holds all collateral.
Also Escrow services don't work for this because of the following:
If a coin is wrt $10,000USD that means we lend the customer $6,000. If the price of BTC drops to $7,000 the customer gets a margin call. and if it drops to $6,500 and the customer hasn't topped up the account, then we have to place a sale position of his/her coins, whatever we sell for minus any interest owing we return.
This is a question for you smart people that keep on talking about escrow: If the price dropped like that, and the coins are in escrow, how do we get the coins from the escrow guy??? what happens if it happens at 4:00AM their time and we cant get a hold of the escrow guy?
I would love to hear what those smart people have to say about escrow now?
Simple, collateral can be held by escrow in solid exchange with Stop /Loss order,
because it's not done, if it happens at 4:00AM most likely you also miss it
