You have multiple options for handling cryptocurrencies if your business accepts payments in BTC, ETH, USDT, and other digital assets. The most obvious option is to sell assets and pay income taxes. You can hold onto your assets, sell them later when the market is favourable, and pay income taxes then. Or you can apply for a crypto loan to generate extra funds for your business, develop products, and evolve without paying taxes on your assets.
Crypto Loan is a process of placing crypto holdings as collateral to borrow cryptocurrencies or fiat money. After repaying the loan and interest, borrowers fully receive their crypto assets.
Crypto owners can set loan-to-value (LTV). With a higher LTV, they receive a higher loan amount and pay more interest. Crypto users can access quick financing without selling their potentially valuable cryptocurrencies through crypto loans.
Crypto loans have several advantages for businesses.
Crypto loans are not considered an income since you should repay them. Still, they give you access to extra funds to develop your business without bearing additional tax payments. Your cryptocurrencies hide a potential in a long-term perspective, unlike fiat money, which constantly loses value because of inflation. Crypto loans help to save crypto assets and leverage their potential increase in the future.
Unlike the traditional loan process, crypto loans are quick, paperless and smooth, allowing businesses to get financing for operational expenses instantly.
Businesses without a credit history or a strong credit profile may be rejected by banks when applying for loans. Crypto loans are accessible to almost everyone.
By taking crypto loans, businesses are more flexible in setting conditions that meet their needs and address the current crypto market state. Business owners can choose the LTV ratio and thus influence interest and loan amounts, schedule their repayments, and change LTV during the loan period to secure their crypto assets' value.
To apply for crypto loans at SpectroCoin, you should go through several steps:
Your application approval will take up to 1 business day. Once your request is approved, you will receive a notification on your email address.
Crypto loan approval typically takes a few seconds, and for large amounts, it may take up to one business day.
SpectroCoin's crypto loan process does not require additional onboarding as it is completed during business account creation and verification. We don't perform credit checks, but we may ask you to provide additional documents such as source of virtual assets documents.
We offer LTV from 25% to 75%, the highest on the market.
You can take a crypto loan as low as 25 EUR and as high as 1,000,000 EUR. If your business requires different conditions, we are willing to make changes upon request at [email protected].
You have the flexibility to schedule your loan repayment according to your convenience.
We offer competitive loan rates without hidden fees.
You can contact SpectroCoin customer support anytime through live chat on the website or by emailing [email protected].