There have been many up and downs in the world of crypto lending this week, especially concerning HextraCoin. On the 2nd of January, the platform announced that they had been hacked and would be down until the 9th. True to their word, people were able to log-in to their accounts on that day, but several issues has arisen since then. More about them below.
We would also like to encourage those of you who have invested with Davor (or any of the platforms) to add 2FA (two-factor authentication) to your accounts. One of our team members had a small amount of BTC withdrawn from his account that was not authorized by him. Davor is looking into the issue, but has asked to ensure that people put the extra protection on their accounts. Our member was able to catch the problem quickly due to email notification
This Week’s Top Three Interest Rates
Poly Network – the Poly Network has continued to do right by their investors this week, paying an average of 1.53% daily. This lending program has been open nearly two months. They have had only very minimal issues and has run smoothly.
Home Block – Home Block actually tied the Poly Network in their interest rates at an average of 1.53% daily. (We listed the Poly Network first because they have been open longer). Home Block has also experienced no major issues and has been running smoothly.
LendConnect – LendConnect started its lending program this week with 3 days of 5% interest
Recent Noticeable Coin Fluctuations
Davor – Davor has continued to rise and is currently sitting above 120 USD!
LendConnect – Though their exchange opened a mere 13 days ago, their coin is already above 10 USD.
Bitconnect – the price of BCC has been steadily falling since they followed the cease and desist order issued to them by the State of Texas and also announced that the US would not be allowed to participate in the BitconnectX (an upcoming exchange) ICO. This company has continually turned things around for themselves in the past, but we will keep watching.
Finished ICOs
The following ICOs have recently finished and have been moved to our ICO Completed page.
Teno – this platform plans to offer a traditional lending program for investors who wish to lend between 100 – 250,000 USD.
Bitwinner – Bitwinner’s ICO ended. They had planned to open their lending program by this time, but haven’t done so quite yet.
Loopx – Loopx hopes to be able to eventually process 10 or more transactions per second in their exchange. Their lending program will operate under a weekly interest rate.
BitAI – All of BitAI’s lending terms will last 180 days instead of a variable amount. They will pay up to 1.53% interest per day, as well as a bonus amount for investors who lend a minimum of 1,001 USD.
Paynext – this platform wishes to pay e-commerce transactions for various companies, including Amazon, E-bay, etc. They claim that their lending bot will be able to pay their investors up to 41% interest per month.
FiCoin – people who have as little as 1 USD to lend may lend with FiCoin’s upcoming program. They plan to
Upcoming/Newly Open Lending Programs/Exchanges
Idea Coin – Idea Coin opened their lending program and are offering a .15% bonus to anyone who participated in the program up to today. The interest will last until the 20th of this month. Their bot has been tested for three weeks and the platform is pleased with the results. They have paid out more than 1% interest every day since their opening. This platform was more popular than Davor in their ICO (compared to Davor’s ICO). Since then, they have moved slowly in opening their programs, but seem to be doing so to be careful. They are currently negotiating with several exchanged and plan to launch a marketing program soon.
LendConnect – LendConnect opened their exchange with an introductory rate of 5% for three days! Their developers claim to have been involved in lending in the past, though not in the world of cryptocurrency.
Bank Coin – Bank Coin opened their lending programs and their exchange. The platform offers two lending programs. One is a “traditional” crypto lending program that lasts several months, and the other is a short term program.
Legend Coin – Legend plans to open their lending program on 18 January. Many participated in their ICO (which all sold out very quickly) and are eagerly anticipating their next step.
King Cash – King Cash opened their lending program earlier this week. In addition to their lending program, this platform is developing a trading exchange.
Mart Coin – Mart Coin opened their lending program. They have a spinning wheel lottery system that is quite unique. Withdrawals are not currently activated. We hope they will activate them soon.
Exacoin – this popular platform plans to open their lending program on 17 January. Their interest rates will fluctuate depending on how much an investor lends into the program.
Ucoin Cash – this company has had a few issues that they are working through. Last week, they opened their exchange to 3,000 people. This week they opened their lending program to 1,000 people.
Platform Issues/Maintenance
FalconCoin listened to advice given to them by us and others and fixed their withdrawals! Approximately 60 BTC worth of backed transactions have been released. Falcon had gotten off to a rough start with several issues, but they have systematically worked through them and have continued to grow. We hope for a bright future for this platform.
Numiv Coin is still having problems with their exchange.
Hextra Coin Issues
Hextra Coin has had a series of issues since their re-launch on the 9th.
Several users complained that they haven’t received any interest since they re-opened (though many of their accounts have now been fixed). Others have received interest but have experienced other issues, such as partial payments or double payments.
Most people who withdrew money from the exchange hadn’t received their BTC after hours or days of waiting, though many are reporting now that they are starting to process. We hope that the others waiting will receive theirs soon. These reports have impacted the platform greatly.
Many people sold their coins once Hextra reopened, which created a panic. People began to dump their coins as quickly as they could and the coin value dropped to below 2 USD at one point.
In an attempt to preserve the platform and the coin price, Hextra began to manipulate the value of the coin, and plan to continue to do so until the end of May. They have created a buy and sell price (that fluctuates periodically) and users MUST use those prices in order to exchange. This has created a lot of mistrust and many potential users leery of the system have moved on to competitors instead. Meanwhile, those in the program who want to sell HXT are backed up because of the lack of buyers.
Hextra needs to fix something soon or the platform will fail in the long run. Hextra have a couple things going for them. Not only did they deliver on their Hextra Gold, they also have a new lottery system which will hopefully help their investors in some way as well.
Other News
After weeks of silence, Neoconnect reached out to their members and stated that they are going to undergo a brand change because of the term “Neo” in their names. They are currently on our removed programs list, but if all goes well, we will re-add them to our active listings.
Happy Investing!
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