First Thoughts on LoanBit.
LoanBit is a new company located in Australia. It went online in September and is in the business of making short term loans to SMEs (small and medium-sized enterprises) in need of “short-term funds to help support their current business activities.” Their claim is that, although their screening process of borrowers is quite strict, businesses borrowing from them experience significantly less roadblocks than encountered when borrowing from a bank. For this reason, they further claim that LoanBit is and will continue to be a very successful earning platform for online investors.
How does one invest with LoanBit? Rather than calling it an investment, it is referred to as a “loan.” Their idea is that a person, such as you, might have BitCoins in his BitCoin wallet that he would like to invest. Hence, you, the lender, loan your BitCoins to LoanBit, who then pays you interest on this loan. LoanBit, in turn, lends funds to SMEs — at a higher rate, I assume. And, that’s how both you and the company make money. It’s a symbiotic relationship where, theoretically, everyone comes out ahead — you, LoanBit, and the SME in need of funds. Thus, the “Legend” offered by LoanBit is quite plausible (read here for more information about HYIP “Legends”) — which should be an encouraging factor for potential investors.
The LoanBit website is exceptionally well done. The English is perfect (in contrast to the typical HYIP website!) and the workings of the investment (I should say “loan”) program are very clearly explained. This also helps to paint a favorable picture of the company, again, that I suspect will attract many investors (“lenders”).
LoanBit has four investment (loan”) programs. They are all short term running from 7 days up to 28 days long (1, 2, 3, and 4 weeks long). The daily interest rate offered for each of the plans increases along with the length of the plan starting at 2% and going all the way up to 4%. All of the investment plans return your deposit at the end of the plan. So, these interest rates are quite high. However, the minimum investment to access the higher interest rate plans is also quite high which will seriously limit the number of takers for those plans. The two highest interest plans also offer a compounding option.
We will make a detailed analysis of the LoanBit investment plans when we review the program. Please expect that from us within a few days. For the time being, we would strongly recommend that interested investors take a close look at this promising program. It is extremely well-presented and has the makings of a very successful program. Perhaps it will be one of the stand-out programs of the year. We haven’t had one in a while…
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