HomeBlockCoin - How to start lending HBC

cloudatlas (16)in #homeblockcoin • 7 years ago (edited)

HomeBlockCoin is a relatively new website in the field of crypto, offering the possibility to mine, stake and lend HBC coins.

“HomeBlockCoin is a decentralized self-regulated financial payment network created for users that want to be independent from third parties like banks or the government. No middlemen or other institution are needed for processing transactions.”

As their internal currency, they use the HBC coin or HomeBlockCoin which could be purchased during the ICO period or purchased now on crypto exchanges such as CoinExchange and Cryptopia.

At the time of the ICO HBC coin price started at $1.00 and gradually increased to over $3.00 per coin. I’ve joined the project during the ICO period and had the opportunity to purchase some of their coins. Now the price of each HBC is around $7 which is a good gain and hopefully, the price will continue to rise according to their estimation as described in the Whitepaper. Here you will find the reference table for HBC lending.

The Lending

In order to start HBC lending, you will have to perform registration on the website and have available at least $100 to deposit+ any fees. You can deposit Bitcoin or HBC coin but the lending is done only in HBC. So if you will deposit Bitcoin, you will have to convert them to HBC on the website. They have an internal exchange for that but before you proceed you will have to create BTC or HBC wallet address first in My Profile settings.

Once you have your HBCs you can type in the desired amount in USD and click Lend HBC. The equivalent amount of HBCs will be deducted from your HBC wallet.

After 24h and depending on the lending amount, you will see your first commission coming in. At this stage, you can convert the earned $ to HBC and withdraw, convert HBCs to BTCs and withdraw or reinvest into lending. The reinvest option, however, allows you to reinvest starting from $100, not less. You are able to reinvest $ or convert them to HBC, wait for the price to rise and reinvest.

The Withdrawal

At this point, you should note that unless you have at least 50 HBCs on your HBC wallet, you won't be able to withdraw any funds. Here are the fees and requirements:

BTC