Which is better, credit through a bank or through online credit provider services? Such questions are often asked by the community, especially those who intend to apply for credit. The emergence of these questions is actually a common thing because it is so many people who do not know what exactly the advantages and disadvantages of each.
Some people then choose to get credit online because it assumes that the process of submitting credit to the bank is too long-winded and complicated, not to mention the process takes a long time. However, some others prefer to take credit to the bank because it is considered more secure and comfortable. Then, which one is actually more profitable?
To know which option is best, then we must understand what the advantages and disadvantages of each. Here is the analysis that can be used as consideration to determine which is most appropriate; between Swapy network and banking.
Surely this will add to your insight and you can determine where you will make a loan of funds. In order for no further doubt in mind, you should first know the advantages and advantages of both.
The advantages and the disadvantages of bank and Swapy Network
Almost everyone knows what banks and credit products are offered. In this case, the outline of bank credit products offers several advantages, namely:
- Able to provide very high credit limit, depending on the value of collateral or collateral provided
- Provide highly competitive credit interest as almost all banks are required to follow the interest rate determined by the Bank regulator (centralized)
- The customer or debtor is insured
- Tenor or credit period can be adjusted to the needs
Disadvantages of bank credit are:
- Terms and documents submission of credit quite a lot
- Must have an impressive credit history
- The approval process may take up to days so it is not suitable for sudden or emergency needs
- Some credit products require the debtor to have a credit card
- The credit limit is far from the value of the collateral provided
- On some loan products, there are penalized for repayment before the deadline
Swapy Network is a non-bank blockchain-based company that works to bring together potential investors and credit recipients.
As a blockchain-based platform, Swapy Network is certainly not bound by rules that often prevent a person from getting credit. Here are some advantages of Swapy Network.
Easy and fast process
Swapy Network will verify the data of investors and loan recipients. After the verification process is complete, investors can directly transfer their investment (loan) to the crediting wallet.
Not everyone can be a member of the ecosystem; only those who have a good track record. Swapy Network will be integrated with several databases that will enable them to know who the user is. This will make it easier for investors to invest in the right kind of people and types.
Swapy Network will give a bonus on every transaction made by its users. Each credit transaction will be rewarded with cryptocurrency.
Swapy Network Team
Edmilson Rodrigues-CEO and Co-Founder
Plinio Braga-Chief Design Officer
Adriel Santos-D’App Developer
Luis Philipe-Solidity Developer
Ícaro Harry-D’App Developer
Jeroen van de Graaf, Ph.D
Ryan David Williams
Ratan Manehani Singh