What is collateral and what currencies can I use for it?

In the field of crypto-backed lending, collateral is the cryptocurrency asset that the borrower pledges as a guarantee that the loan is going to be repaid. In traditional banking, a common example of collateral is mortgage – the asset (house, apartment) that is being financed is usually the collateral that secures the credit. The crypto collateral is returned upon full repayment of the credit.

Our loans are denominated in Euros, so the value of the collateral is always regarded as its value in Euros.
Currently, SpectroCoin Loans accept four leading cryptocurrencies as loan collateral options. The available options are Bitcoin (BTC), Ether (ETH), Dash (DASH), NEM (XEM). It is worth noting that SpectroCoin is the only place in the market to offer an opportunity to pledge XEM cryptocurrency as collateral.

Is my collateral safe?

Our team aims to provide top-level security by implementing a variety of measures, including offline cold wallets and advanced authentication methods. Similar safety tools have been successfully used at SpectroCoin for over 7 years, and our security experts are constantly working on improving them even further.