Re: 1 to 2 BTC Loan needed. iOS apps as Collateral offered.
Hi, would you accept an iOS app (8+ years on the App Store) as collateral? .... I need a Loan of around 1 to 2 BTC to expand my app business and create new apps. I already have two apps on the App Store. Details are mentioned below:
https://itunes.apple.com/us/app/winmail-file-viewer/id379500151
https://itunes.apple.com/us/app/xmas-slots-santa-casino/id1172707186?mt=8
https://itunes.apple.com/us/developer/hiren-bhatt/id379500154?mt=8
It would work like this:
1. I either transfer my apps to your iOS app developer account for the term of the loan. Once loan is repaid, you return my apps back to my iOS account.
2. Loan is a medium-term loan for 6 months.
3. Interest will be paid monthly at whatever rate you decide.
I tried approaching Banks for a loan but had a very hard time making even the freaking Manager understand what apps are and how I make money from them!
https://itunes.apple.com/us/app/winmail-file-viewer/id379500151
https://itunes.apple.com/us/app/xmas-slots-santa-casino/id1172707186?mt=8
https://itunes.apple.com/us/developer/hiren-bhatt/id379500154?mt=8
It would work like this:
1. I either transfer my apps to your iOS app developer account for the term of the loan. Once loan is repaid, you return my apps back to my iOS account.
2. Loan is a medium-term loan for 6 months.
3. Interest will be paid monthly at whatever rate you decide.
I tried approaching Banks for a loan but had a very hard time making even the freaking Manager understand what apps are and how I make money from them!
No. An app isnt valid collateral.
Can you explain why an app isn't valid collateral?
I plan on paying off the long-term loan, but just in case I don't/can't, the app will already be in your developer account, so you would continue to earn monthly passive income from it for months/years to come!
FYI, the app has income potential of 10x of the loan amount, since it has already created sales of around 7x the loan amount till now!
Banks (and the people who run them) are too dumb and technologically backward to understand apps and how they make money, that's why I am approaching the Crypto-community for help.