Essential Features of a P2P Crypto Lending Platform

The gaps in the conventional lending models have led to the evolution and growth of several potential lending paradigms. P2P crypto lending software is one of those lending platforms that experienced an upsurge in its popularity and adoption in the last few years. The amazing aspects of the crypto lending paradigm are attracting a large number of investors and lenders to the platform.

After the top businesses ventured into the development of P2P crypto lending platforms, a lot of businesses are considering developing their P2P lending platforms to lure users and create new revenue streams. According to Statista, the global P2P market is expected to reach US $589.05 billion with a compound annual growth rate of 50% over the period.

Although launching a P2P crypto loan platform is worth investment due to its wide acceptance among the crew of crypto cognoscente and its exceptional revenue model for businesses, it would be right to say that not all P2P crypto lending platforms can disrupt the market and attract users.  

The intellectual investors and logical lenders of today are wary about a lot of factors. So, to come up with a platform that wins the trust of the lenders and investors and makes money for businesses hand in hand, it is ideal to count on a reliable crypto lending software development company that offers a complete product that is transparent, highly functional, and void of any security gaps. 

Ideal Characteristics of White-label Crypto Lending Software

Here are some of the things that all investors and lenders look for in a white label P2P lending platform and thus if you are planning to build a P2P lending platform then integrating your platform with the following features ought by users will improve your chances of acquiring more number of users.

• Security

Security is the prime concern of investors and lenders. A lot of crypto lending platform providers are not transparent about safety measures that they would instill in their products.

While building your P2P lending platform, make sure that you fortify it with the right security features.

• Platforms equipped with KYC

If it is a system that is going to involve random investors or borrowers, an appropriate identity management system is indispensable. 

• Escrow System

An escrow system escalates the reliability in transactions. An automated power to hold and release crypto assets would sustain the trust of users of P2P lending systems.

• Integrated Wallet

An integrated wallet is one of the most strengthening characteristics of lending and investment platform. It lends a sense of security to platform owners, lenders, and borrowers. 

• Risk assessment functionalities

A P2P lending platform should be equipped with a rainbow of risk assessment and management characteristics. P2P loan platform development companies providing a comprehensive platform that involves relevant risk assessment features should be chosen over the others that don’t talk about risk assessment functionalities in their product development plan. 

LVR ratio calculators are one of the risk assessment features that can be integrated into the software. 

• On-platform investment assessment functionalities

The presence of such advanced features in crypto lending platforms helps investors and lenders make intelligent and measured decisions easily. More than efficiency, it lends convenience to the processes.

• Refinancing feature

Refinancing is a boon to traditional lending platforms as well. So, implementing it in the ingenious lending platform can make the platforms more lender-friendly.

Take Away

Last but not the least, there are two integral things that are necessary to consider while choosing the best P2P lending platform providers. 

• Don’t believe on unrealistic profit multipliers lending models:

No P2P lending model can be miraculous enough to lend businesses a one night, effortless success. So, don’t settle for the promises that aren’t possible to be fulfilled. 

• Choose only the industry’s trusted platform development companies:

Trusted P2P lending platform providers are well versed in market requirements and standard quality concerns. So, a reliable P2P Crypto lending software provider should be chosen. 

Antier Solutions is one of the industry’s most trusted, top-drawer P2P Crypto lending software development companies. We offer a white label P2P lending platform to expedite your process to develop a P2P lending platform. Schedule a free demo of our white label P2P lending platform.

Additionally, we specialize in building a custom lending platform from ground zero, as per your business needs. Connect with our subject matter experts to share your business requirements.