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What is Marcopolobot?

Marcopolobot is a crypto funding bot

Marcopolobot enables you to generate interest on your Bitcoin, Ethereum and other cryptocurrencies by automating the lending process on the Poloniex and Bitfinex exchange.

On exchanges like Poloniex and Bitfinex you can earn interest by lending to margin traders. Margin traders are people who speculate with borrowed funds so they can increase their exposure. They need people to provide them loans and as such, there is a market for loans.

We place loan offers for your account on the exchange. By activating our service, your funds will be automatically loaned out in return for interest. By disabling trading and withdrawal access on the API, we can only place loan orders for your account. We (or hackers) therefore don’t have the option to withdraw or trade funds from your account.

You could also do it yourself, however it is very time consuming; you would need to check on a very regular basis whether loans have returned so you can replace them again. Also, you would need to determine the interest rate for the loans. If the interest rate goes up after you’ve loaned out your funds, you could have potentially made more. We use an algorithm based on statistical analysis and current order book data to determine optimal interest rates.

Borrowers don’t have the option to not repay the loan. The systems on Poloniex and Bitfinex enforce this. Margin traders cannot withdraw borrowed funds from the exchange. By engaging in margin trading they essentially create a ‘contract’ where they are exposed to the price fluctuations. The loan never takes longer than the approved upon time. Margin traders can return the loan before the end of the loan.

You can now start a free trial for 14 days with MarcoPoloBot

You can now start a free trial for 14 days with MarcoPoloBot

What is crowdfunding?

Crowdfunding is funding a project by raising money from a large number of people

Crowdfunding is a form of crowdsourcing and of alternative finance. In 2015, it was estimated that worldwide over US$34 billion was raised this way.

Crowdfunding is often performed via Internet-based registries. This crowdfunding model is generally based on three types of actors: the project initiator who proposes the idea and/or project to be funded, individuals or groups who support the idea, and a moderating organization (the platform) that brings the parties together to launch the idea.

Crowdfunding has been used to fund a wide range for-profit entrepreneurial ventures such as artistic and creative projects, medical expenses, travel, or community-oriented social entrepreneurship projects. The biggest crowdfunding platforms are Kickstarter and Indiegogo.

Source: Wikipedia

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What is Kickstarter?

Kickstarter is a global crowdfunding platform

Kickstarter’s stated mission is to help bring creative projects to life through crowdfunding. With crowdfunding people can pledge to support your project with money and together raise the sum needed to kickstart the project. Kickstarter has reportedly received more than $1.9 billion in pledges from 9.4 million backers to fund 257,000 creative projects, such as films, music, stage shows, comics, journalism, video games, technology and food-related projects.

People who back Kickstarter projects (so called backers) are offered rewards and one of a kind experiences in exchange for their pledges.

Source: Wikipedia

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What is Indiegogo?

Indiegogo is an international crowdfunding website

Indiegogo was founded in 2008 by Danae Ringelmann, Slava Rubin, and Eric SchellIts. The site is one of the first sites to offer crowdfunding. Indiegogo allows people to raise funds for an idea, charity, or start-up business. Indiegogo charges a 5% fee on contributions. This charge is in addition to credit card and PayPal charges that range from 3.5% to 9%. Fifteen million people visit the site each month.

The site runs on a rewards-based system, meaning donors, investors, or customers who are willing help to fund a project or product can donate and receive a gift, rather than an equity stake in the company.

In 2014, Indiegogo launched Indiegogo Life, a service that people can use to raise money for emergencies, medical expenses, celebrations, or other life events. Indiegogo Life does not charge a platform fee, so fundraisers keep more of the money they raise. In 2015 Indiegogo Life was renamed to Generosity.com.

Source: Wikipedia

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