Introducing Long Term ETH Loans

The bulls are roaring again. A regulated ETF might be on its way. Sensible ICOs are hitting the market and with more regulation and awareness the community is weeding out scams. As you hop on to this bull cycle, there is one important tool that you have been missing which can help grow your assets by providing additional liquidity. Introducing Long Term ETH loans.

Using Nuo Lend, users and institutional investors including crypto funds can raise debt in ETH against other ERC20 tokens without selling them and get additional liquidity for 6 months or even an year in a completely decentralised way.  This would give you enough time to make other investments, wait for investment tokens to list on an exchange and book your profits.

1. To get started, you would need to create a loan request by choosing a collateral token. This collateral will be with the smart contract till you repay your ETH loan. You can then choose a premium (2.5% for every 30 days is recommended) and the duration of the loan (90, 180 or 360 days recommended for long term). You can choose to repay back the loan in 1 instalment or upto 10 instalments.

2. Once you have fill this loan request form, you would need to pay gas (Ethereum Network fees) for creating a smart contract for this request. Once a smart contract is created successfully you would need to authorise and transfer the collateral token to the smart contract. We have over 50 tokens supported for transferring the collateral.

3. Once the loan request is created successfully it would be visible to all the lenders on the platform and will get funded soon. Since the entire Nuo Lend product is completely decentralised and runs on smart contracts you can keep a track of your collateral in the smart contract and ensure that you don’t default at any time. 3 days before the end of the loan tenure, you would get a notification for repayment and you would have to transfer the loan amount along with the interest rate you had promised failing which you would lose the collateral in the smart contract.

Oh and currently the gas price is quite low and your loan request would cost around $3-5 worth gas (network fees) and to compensate for that we are giving you $10 as a crypto cash-back in your account which will make you profitable from Day 1.

Now never miss an opportunity to invest in an ICO because of lack of liquidity. Happy Investing.

  • Borrower Tutorial: Asking for a Loan on Nuo Lend

  • Lender Tutorial: Earning Interest On Crypto by Lending

Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.