Banking/FinanceNews

Germany Bank Bitbond to Provide Loans in Bitcoin and Other Cryptocurrency

Radoslav Albrecht of German established an online bank, Bitbond. It provides clients to transfer loans to any part of world utilizing Bitcoin. Bitbond utilizes digital currency like Bitcoin to circumvent the international transfer system. It lends finance all over the world and the service is fast at an affordable price.

Bitbond Bank’s services

Albrecht’s services are been expanding among the clients. Basically, he founded the firm in the year 2013. The office employs 24 people from various nations. The employees handle loans for 100 clients which amount to $1 million each month.

According to Albrecht, traditional money transfers are comparably pricey to currency exchanges fees which can take up few days. The Bitbond payments function individually and customers can transfer through the internet. It transfers money in a short duration and the fees are low.

Clients fetch their loans in digital tokens like Bitcoin for few minutes and are exchanged back into the currency of the nation. The clients are receiving their funds by preventing the digital currency waving exchanges rates.

Bitbond’s clients

Albrecht says the clients are small business owners or freelance workers. The loans are comparatively small which doesn’t exceed 50,000 dollars. In the year 2016, Bitbond was officially accredited as the bank. It also gained many investors in the process of providing loans to the customers.

According to Bitnodes, Germany has adopted Bitcoin from a very long and it is following the footsteps of U.S. It is reporting the location of all Bitcoin nodes and transmits data for new transactions.

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Sara Noah

Sara Noah is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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