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What is Loda?

By February 16, 2023No Comments

Meet the loan service that lets you use crypto as collateral

Cryptocurrency has the potential to create an ephocal shift across all financial products and the way we trade globally. This disruptive technology will become an invisible layer powering almost every transaction in both a faster and cheaper way—from a single bank transfer, to the transfer of property and other titles. The potential is limitless, however as any crypto holder will know, the journey to get there is at times uncertain.

So while we wait for the future to become reality, why can’t we use our crypto to get more done today?

Enter Loda: The cryptocurrency loan service

Loda is a first-of-its-kind lending service that lets you deposit your cryptocurrency as collateral and get fiat currency (AUD) in return. You pay 5% flat interest on the loan at a rate that you choose and, in the meantime, your crypto is secured and returned to you on repayment. No hidden fees. No late fees. No fees of any kind.

By re-imagining consumer lending in a new age of digital investments, Loda empowers those that are looking to take financial independence into their own hands by finding new ways to diversify them.

How to use your crypto as loan collateral with Loda

Opening an instant crypto credit line is a simple and secure process that can be completed in under an hour via the Loda website. Here’s how it works:

  1. Verify your identity: Create an account and verify your details via our secure platform.
  2. Deposit assets: Head to our website and click Deposit Assets. Enter your crypto wallet address, and deposit one of our accepted cryptocurrencies, including Bitcoin, Ethereum and USD Coin.
  3. Get credit: Once your crypto assets are deposited, you will be able to open a line of credit. Your credit limit will be calculated on the value of your assets, and you choose how much you’d like to borrow.
  4. Start spending and repayments: Your selected credit will be deposited into your nominated bank account as AUD, which you are free to use as you please. Repayments can be made in regular instalments or all at the end of your chosen term, at which point your crypto assets will be made available for return to your wallet within 1-2 business days.

Where to find Loda finance

Everything you need to start your lending journey, including information, documentation, and verification, is available via the Loda Finance website, found here.

Where did it begin? Loda Finance history and founders

Loda was founded in Q2, 2021 by director Dion Dalton Bridges as an innovative platform that would re-imagine consumer lending. It is backed by a world class group of investors with participation including; Framework Ventures, Spartan Capital, Mechanism Capital, Apex Capital Partners among others.

We believe digital assets have enormous potential to re-shape all financial products and create new efficiencies for both borrowers and lenders.  We aim to play only a small but important role in this transformation, offering a secure bridge to buy what you need today against the crypto potential of tomorrow.

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