In recent months, various cryptocurrencies have emerged and they don't seem to be slowing down. Bitcoin has led the way for cryptocurrencies and it recent successes have led to the introduction of many other currencies.
Various individuals have made significant gain from the market while others have not been so lucky. It is usually advised that you hold on to some coins and sell them when they increase in value.
Few platforms allow people to save their cryptocurrencies and let the access to it when they need it and one of these few platform is Uma Chit Fund. Uma Chit Fund allows users invest in a specific amount of cash at a specific time. It provides an avenue for members to buy its tokens and auction them to various members in need.
HOW THE CHIT FUND WORKS
One major feature of the Uma chit fund is its easy to use platform and its well laid down procedures.
Members using Uma Chit Fund agree to deposit a certain amount of money every month for an agreed period. Now, the total amount of money put up over this agreed period is known as the ‘pot’.
The Chit Fund pot is put up for auction to help members in need of it. Members bid for the pot in an auction organized by the Foremen. In the auction, the member that agrees to take the lowest amount i.e. the lowest bidder wins the pot at his bidding number. In a situation where there are no bidders i.e. members in need of the money at the particular period, then a member is selected by lucky draw and he/she get to carry the whole pot after deduction of the Foremen's fee.
With the Uma Chit Fund platform, members can help each other. Members in need can get to bid for coins when they need them. This is a safe way of saving and borrowing coins. Only few platforms give their members such opportunities and Uma chit fund is sure the leading platform.
CHIT FUND AGAINST BANK LOANS AND THE STOCK MARKET
The impressive features of the Uma Chit Fund platform makes it a good investment platform. With bank loans, individuals are expected to pay a financing cost or interest rate between 12-24% with no guarantee of credit application being acknowledged. This problem can be eradicated if user invest in the Chit fund. The interest rate for the Uma chit fund is also much lower than those paid on bank loans.
The stock market is a very complicated market that has various intricacies. It involves a lot of time, as investors has to be side-by-side with the market to monitor every changes so he knows where to invest. But when investors use the Uma Chit Fund platform, the risk and time spent is minimized and investors are guaranteed better steady income.
With the Uma chit fund, members are assured transparency and safety in every transaction. The Uma chit fund is opening several opportunities for investors.
Bitcointalk Username: Nancyo
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2759950;sa=summary
Wallet Address: 0xeF728a6f7aB532bac5b2662B9eE6a0C097bc5243