Existing Problems and Our Solutions
Last updated
Last updated
Problem Idle Value of Digital Assets Cryptocurrencies like Bitcoin and Ethereum are becoming the most widely held digital assets globally, creating significant wealth for investors, miners, and entrepreneurs. However, despite their increasing value, regulatory and infrastructural barriers prevent holders from using these assets in daily life or accessing short-term liquidity. As a result, most cryptocurrency wallets have inbound transactions, with very few having outbound transactions.
Solution Unlock the Value of Digital Assets Instead of just holding digital assets, investors, miners, and entrepreneurs can leverage with FERO CASH for an instant crypto-backed loan. By transferring their crypto to the FERO Protocol, customers can instantly access liquidity and convert it in fiat currencies like USD, EUR, or JPY, with the loan secured by the market value of the assets.
Problem Slow Liquidation Process Liquidating digital assets can be time-consuming and costly. Different crypto exchanges and withdrawal limitations slow down the process, as does the clearing bank that converts the digital asset into fiat currency. This can take anywhere from several days to a month, which is inconvenient when there is an urgent need for cash.
Solution Quick Access to Cash FERO CASH customers can instantly access cash and meet liquidity needs. While larger withdrawals are processed via bank transfers, retail customers can also use the free credit card for everyday expenses.
Problem Loss of Ownership To unlock the value of their digital assets, owners are often forced to sell them for fiat currencies, losing ownership and missing out on future price appreciation.
Solution Retain Ownership FERO CASH clients retain 100% ownership of their digital assets. By using FERO CASH’s instant crypto loan instead of selling, they keep all capital gains and benefits while enjoying immediate access to their crypto wealth without losing ownership.
Problem Complicated Credit Checks The global consumer lending market is estimated to reach $995.34 trillion by 2030, making it a key economic driver by providing the public with access to finance (). Consumer lending is directly linked to consumer spending, which is the backbone of every advanced economy. Most financial institutions perform "hard" credit checks each time a loan is applied for, aiming to assess risk and set interest rates accordingly. However, these checks can negatively impact the applicant's credit score, potentially lowering it by 5 to 10 points, as shown by a study from FasterCapital ().
Solution No Credit Checks FERO CASH does not conduct credit checks that could damage its clients' credit scores, as the crypto loan is fully secured by the value of the digital assets.
