Quote from: notblox1 on June 16, 2020, 12:32:03 AM

I see there is no personality verification, so that means there is no KYC/AML or am I missing something?
Who controls wallets and private keys inside Biterest?

We respect privacy and never ask any personal information from the users who receive bitcoin-backed loans on Biterest instant credit line and P2P Biterest platform. You only need your email address to start borrowing.

On P2P Biterest markets, Biterest has no access to the user’s private keys. The control of the address where collateral stored is split between three independent parties. The address is generated from three public keys provided by the borrower, the lender, and Biterest platform therefore the address requires a minimum of two private keys to access the bitcoin. Each of the parties keeps its own private key safe. Thus, the bitcoin is "frozen" on the multisig-address until the end date of the loan period and no-one can assess it.

However, the shortcomings of P2P platform such as a long period of loan approval by an independent lender (up to 24h), a fixed loan period, a fixed amount of collateral which cannot be added or withdrawn until the repayment or due date led our Biterest team to create a more flexible service.

In February, our team launched Biterest bitcoin-backed credit line where users can receive loans instantly. The only requirement is to pledge collateral on the account balance and the credit line becomes totally available. Each account has its own cold wallet where the collateral is stored. At any time, a user can check the preservation of their collateral at the bitcoin addresses belonging to their Biterest account balance. The addresses always contain the amount of bitcoin which is never less than the provided amount of the collateral.

Most users of the Biterest noted that the credit line has greater flexibility in the loan terms and is way much easier in use.
The mentioned main benefits of the new credit line are:
1) Instant approval
2) Unlimited loan duration
3) Daily interest accrual (only for the days of using a loan)
4) Fixed rate 0.033% daily (APR 12%)
5) Loan repayment with bitcoin stored as collateral
6) Free withdrawal the exceeded collateral without loan repayment
7) Putting up additional collateral when the BTC price decreases

The loan terms are here at https://biterest.com/blog/loan-terms-of-biterest-credit-line

Don't hesitate to ask any additional questions.