ForexQ.com
ForexQ.com
Kryptobörse · Südafrika
According to its official website, GetBitcoinLoans is a platform that lets South Africans borrow rand against their bitcoin without selling it; it is a bitcoin-backed lending service rather than a trading exchange. Services are provided by GetBitcoinLoans (Pty) Ltd, an FSCA-authorised financial services provider (FSP 55552) and registered credit provider (NCRCP22583). Loans run for 12 months; annual interest is 19% up to ZAR 250,000, 17% up to ZAR 1,000,000 and 15% above that, with a fixed origination fee of ZAR 5,250 and no early repayment penalty. Loans open at a maximum 50% loan-to-value (LTV); a margin call with a 72-hour window is issued at 65% and part of the collateral is liquidated at 80%. Bitcoin collateral is held in 2-of-3 multisig cold custody in South Africa, is never rehypothecated and can be verified on-chain; rand is usually paid to a local bank account the same day. Approval is based on collateral rather than credit score; South African residents over 18 with a local bank account, and companies, can apply. This information is the company's own statement.