I got my loan approved in about an hour! However after reading through the instructions, I realised I need to change my article later regarding the payback. So it is like traditional banking , it is split into equal payments and each month there is a reminder of servicing the loan. Which means I need to come up approximately $14.36 worth of BCH a month to pay them back; but if I have more $$$ I can pay back at a go and only charged +1 month of prorated interest Unlike nexo I can repay my full loan any time, but daily they deduct from my collateral in a 6% prorated interest , and I cannot repay until 30 days later. Both very different concept, but interesting.
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Have not tried making a loan or borrow crypto.. is it really just like a bank.. i am just wondering there are 0% interest on some borrow crypto. Are they legit? Well have sen one % on abra.. i mean how can they earn from that..