Documentaion
This Telegram bot allows you to get access to loans which are created by Lenders and registered in our catalogue. The LendingOwl AI bot can let you access crypto or fiat currency loans without the need for a trusted third party through the use of smart contracts.
- Secure your telegram account with Two Factor Authentication.
- You get a special subscription link. You can get it directly from a fellow user or find it in a public space. Subscription/bot link allows you access to the bot and it’s features.
- Once you follow this subscription link you can click on the proceed button and go ahead to apply for your required loan. The loans are not activated yet.
- To activate loan package, choose a period (normally 1, 3 or 6 months). The bot gives you information on the loan and the repayment instructions.
- loans on @LendingOwl_Bot can be secured with 30% of the loan amount as collateral. For example, if you need a loan of $1000, you’ll need to have at least $300 as collateral on your portfolio which is 30% of the loan amount In order for the loan to be instantly approved by the bots AI.
- Once your 30% collateral is detected by the system, it needs some time for the transaction to complete. Please note that it may take some time before your payment is cleared by our payment gateway (normally it happens within an hour).
- After you have received a confirmation message from the bot, your requested loan amount would be credited to your balance and can be withdrawn via crypto or fiat currency.
- Their are more than 6 withdrawal options on the bot which include PayPal, Skrill, crypto, Neteller etc
- A day before your subscription expires you will receive a notification from the bot on default. You can set the notification to arrive a week or 3 days before the loan term expires through your account settings section.
This bot can automatically manage interactions between you and borrowers. LendingOwl pools all lenders funds into a lending pool. This means you match instantly whether you’re a borrower or a lender. As a lender, profits are accumulated in percentage and can be withdrawn at any time.
- First of all, secure your telegram account with Two Factor Authentication. Go into the bot and add the requested information such as your personal email address, lending terms etc.
- Set a monthly withdrawal threshold(this helps to prevent unauthorized users from accessing your funds). We support cryptocurrencies and and other fiat withdrawal options like PayPal, Skrill etc. You can use both methods at the same time.
Crypto payments are done through the bot, you can withdraw them manually or automatically.
PayPal payments are done directly to your PayPal account.
- After the amount is set, a special code will be created. Use it to track all your transactions through our secure web portal.
- Apply additional settings to your account: set a delivery mode, turn on loan request notifications, set interest rate, join the support group etc.
- You are free to delete your account from our system at any time.
Cryptocurrencies: we take 1.5% of a payment made by a borrower upon loan repayment. When you set a price, you should already include this fee in it.
For example, you set a price of 0.01 BTC as interest for every borrowed funds. From every users payment, we will take 0.00015 BTC as a fee and put 0.00985 BTC on your balance.
When the balance is withdrawn to your wallet also a network transaction fee will be deducted from it.
We dont set any conditions for withdrawals, but our payment gateway does not support transactions smaller than 0.0019 BTC. It means you can withdraw your earnings starting from this amount.
Please notice that our gateway charges a larger fee for TRX (extra 0.2 TRX).
PayPal: The first 30 days of using PayPal are free. Every 30 days we will ask you to pay a fee for your active borrowers who are paying with PayPal.
The fee is: number of users * 0.5 EUR but it is never higher than 35 EUR.
Other fiat Withdrawal options: A standard 0.5 EUR fee is charged upon all other fiat withdrawal options like Skrill, ACH Transfer, Neteller, Payoneer, Wire transfer etc.