For a long time, the only way to start a business was to go to a bank or some kind of financial institution and apply for a loan. However, for a lot of people, this was not a good option. In many cases, people fail to meet the bank's criteria, which ultimately leads to not receiving the necessary funds. Banks are well-known for having high standards in that regard, which makes sense, but it also prevents people from starting their own businesses, making a living, and achieving their goals.
Not to mention the fact that there are over 1 billion people around the world that are considered underbanked or even completely unbanked. These are the people that have no access to the global financial industry, loans, credits, and alike.
However, with the invention of cryptocurrency and blockchain technology, this might finally become a thing of the past. The new technologies have led to the creation of countless new services, and loan providers are now among them as well. One of the newest projects that aim to deliver this type of service is actually holding its token sale right now, and its name is MinitCredit.
MinitCredit is a project that is being developed with the goal of issuing small loans to people who can't get the money from banks and financial institutions for various reasons. In the last few years, these types of loans have been growing in popularity.
One of the main reasons for this is the fact that the number of people who simply cannot get the necessary money from the bank is larger than those who can. These are the people who have their goals and dreams, but they simply cannot achieve it on their own, and they need the money to start. While crowdfunding campaigns are a valid option, they are not always as successful, so getting a loan from somewhere else becomes the only option, apart from simply giving up.
MinitCredit brings the solution and claims to have a large number of potential customers all over the world, already. Thanks to the fact that cryptocurrencies and blockchain technology are borderless, these people can all benefit from this and similar projects.
MinitCredit also claims that micro crediting is a safe investment, and that the new industry is growing rapidly, bringing big profits to participants along the way. All that the company needs in order to get started is its own cryptocurrency. And, as mentioned, they are distributing their own in an ICO right now.
MinitCredit already held its preICO from August 15th to September 15th, and this stage was followed by the immediate launch of the ICO itself. Its public token sale started on the same day the preICO finished, September 15th, and it will end in only a few days, on October 15th.
The project is offering its token, known as MINIT, which is a utility, developed on Ethereum's network. As such, it is an ERC-20 token that can be obtained in exchange for ETH coins. The price of 1 MINIT is 0.00025 ETH, and the project aims to collect at least $90,000.
They are based in Russia, and they offer an MVP, with no restrictions in regards to who can participate in the token sale. Apart from not having any restricted areas, the project is also not requiring investors to go through KYC or whitelist procedures.
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|Start||September 15, 2019|
|End||October 15, 2019|
The project is not original, as mentioned, and there are many others that offer the same type of service out there. Furthermore, this project raises a number of red flags, such as the fact that it doesn't require identity verification, nor does it have any restricted areas, which is quite rare to see. There is also a general lack of details, no advisors, and a lack of a white paper.
acc0untant August 25, 2020 Reply
Not to mention the fact that the project is going out of its way in its description to promise profits for willing investors. All in all, there are too many suspicious details, including the lack of information, which indicates that it might be best to stay away from this one. Investors are advised to do their own research if they are willing to support the project, and only invest should they find the available information satisfying.
s0rry October 2, 2019 Reply