Creditcoin was one of the earliest cryptocurrencies to focus specifically on facilitating credit-based lending and borrowing on the blockchain. By building lending functionality directly into its core blockchain protocol, Creditcoin helped pioneer the concept of decentralized finance (DeFi) lending years before the modern DeFi boom.
Creditcoin (CTC) crypto asset is now listed on INDODAX on the ERC-20 network.
Interested in Creditcoin (CTC) and how to buy it? Learn more before investing by reading below!
About Creditcoin (CTC)
Creditcoin (CTC) is a cryptocurrency developed to facilitate a borderless credit investment network. Creditcoin builds a blockchain that enables an efficient and open market for lenders and borrowers.
Cryptocurrency has not had a developed market for credit-based lending or borrowing. Creditcoin resolves this issue by building a blockchain that facilitates an efficient, borderless, and open credit market.
The goal of Creditcoin is to connect blockchain assets with a straightforward protocol to design an inter-blockchain lending market, bringing the crypto ecosystem closer to a sound and stable currency.
For more information, visit the official website of Creditcoin (CTC) at https://creditcoin.org/
Challenges, Opportunities, and Utilities
The primary challenge Creditcoin addresses is the significant gap in the credit system for the unbanked populations in emerging markets. Traditional banking institutions often exclude individuals without formal credit histories, forcing them to rely on non-bank lenders. Unfortunately, credit records established with these non-bank entities are not recognized by banks due to trust issues regarding the data’s authenticity.
Creditcoin aims to rectify this issue by providing a transparent and trustless platform where credit transactions are recorded on a public blockchain. This approach not only facilitates access to credit for the unbanked but also opens up new avenues for credit history verification that banks can trust.
By doing so, Creditcoin is not just a technological innovation; it’s a social one, aiming to bridge the gap between traditional financial systems and those left on the periphery.
CTC facilitates transactions between lenders and borrowers in a smooth and secured manner. Creditcoin bootstraps transparency into its ecosystem to facilitate the trust and market information required for efficient lending markets. Further, it bridges the gap between cryptocurrencies and the real-world lending economy.
Below are some of the utilities of CTC:
- Used as the Creditcoin Network usage fee, which is used as a transaction fee to add transactions to the blockchain. CTC transaction fees are returned to the user after one year.
- Used when an announcement about a loan offer, loan request, or other credit transaction is made, which will create a transaction on the blockchain. Every announcement requires a fee in CTC.
- Used to reward miners who run the Creditcoin nodes as a reward for maintaining the network.
- Can be used to build a CTC rental market similar to the staking model. CTC holders can rent out their CTC to earn passive income.
- Can be used to govern various smart contracts within the Creditcoin ecosystem. Token holders can vote on proposed upgrades.
Founder and Investor of Creditcoin (CTC)
Creditcoin was launched on April 4, 2019, by a diverse and skilled team based across the United States, Canada, South Korea, Nigeria, and Estonia.
The project was co-founded by Tae Oh, Scott Hasbrouck, Sung Choi, Vladimir Kouznetsov, and David Lebee, who brought together their extensive expertise in engineering, investment, and blockchain architecture to address a significant challenge in the financial world.
Tae Oh, who also serves as the founder and CEO of Gluwa, played a pivotal role in establishing Creditcoin. Gluwa is one of the key companies behind the inception of Creditcoin in 2017.
CTC is backed by investors or venture capitals such as DWF Labs.
Crypto Asset Ranking Information
As of May 27, 2024, the CoinMarketCap ranking of Creditcoin (CTC) is #277, with a market cap of USD 244,962,576. It has a circulating supply of 341,092,249 CTC and a maximum supply of 549,570,839 CTC.
How to Buy Creditcoin (CTC) on INDODAX
Now that you’ve discovered more about Creditcoin (CTC), you can start investing in Creditcoin (CTC) easily and securely on INDODAX.
You can access INDODAX via the INDODAX Mobile App, which can be downloaded from the App Store or Google Play Store, or by visiting the INDODAX website.
To buy Creditcoin (CTC) crypto asset on INDODAX, follow the steps below:
- Register on INDODAX if you are not yet an INDODAX Member or login to your INDODAX account
- Then, deposit by reading how to make a deposit below
- After making a successful deposit and the balance has been credited to your INDODAX account, visit the INDODAX market
- Search for CTC in the IDR market, and click to visit the crypto asset page
- On the crypto asset page, enter the balance and desired CTC purchase price, or buy instantly at the current price
- Next, you should wait for the price to increase for some time
- Once the price increases, your assets can be sold at a higher price with the Instant method
- If you use the Limit method to sell, make sure to place a sell order after purchasing the asset and enter a higher sell number
INDODAX also offers other features than trading, such as INDODAX Earn which allows you to lock crypto assets and earn interest rewards, and INDODAX OTC for large crypto transactions in a more personalized and secure way.
Let’s invest in Creditcoin (CTC) on INDODAX now!
