Atriark provides the crypto backed fiat loans that signify crypto locking with Atriark and in return EUR, USD as the loan.

Implementing this makes the user hold the ownership on their cryptocurrency this gives you the leverage to save the money spend on your daily life. Once the amount is deposited against the loan, the user gets access to the funds again. And if the value gets raised then the user gets benefitted by the situation but if the cryptocurrency faces downfall then it becomes hard to reach there and become stressful when unable to access the crypto funds especially during the lock-up period.

Solutions offered by Us:

A. Loans
Atriark will provide you with the loans based on the currency format required by you like USD, EUR. Once the funds are transferred the credit line is accessible instantly, and you can access to the loans by the card or by withdrawing the bank account.
$1000 is the least loan amount that one can take and while paying back the user can deposit in the USD, EUR, Bitcoin, Ethereum or ATRI.

The interest on the loans starts from 8% based on the use. Although the rates are not fixed, the wordings every time leaves the uncertainty on the rate. The very first thing that strikes that the interest rate can go higher and the second is it is so flexible, which indicates whatever is the percentage you have to pay. So there’s a possibility that the interest rate of each customer differs from the other.

But this doesn’t mean that it will make the process inconvenient for the user. In fact, the user can pay the loan anytime from anywhere, rather with the time of loan repayment, the interest rates keep deducting from the available credit. That’s why the compound interest should never be forgotten especially when it has a longer period such that you don’t get surprised every time.

Moreover, you need to ponder some serious problem areas which were not described earlier:
● The circumstances in which the loan-taker fails to repay back the loan. It is important to note that the Atriark reserves the option of right to “unlock” the crypto client assets.
● Although the wording is not clear, will the assets get seized or the only the owed amount or the rest amount is released. Nobody knows the exact answer. This means it is unclear and should be taken seriously.
As said, the team explained the only taking partial funds so that the possible losses can be calculated. However, the part FAQ on Reddit, and therefore, it does not give a legally binding statement.

B. Credit Card
Company’s credit card was launched in Q3, but the launch was retarded by Q4 for the next year, during the company’s own wallet launching. The credit cards don’t mean the crypto cards, in fact, the simple FIAT cards, so that the user doesn’t have to face the problem with regulation or lawmakers that prohibits the crypto cards, as seen in the past.

Atriark is not new in this platform, in fact, is available a way before it was perfectly introduced. It includes the lending and bill payment services that were listed on the stock market via IPO. The company has a thorough understanding of lending services in the market, which compiles all laws and frameworks by the EU in this area.

The number of companies enjoying these type of situation is not in a huge number so this gives Atriark an edge when it is about the legal compliance and establishing itself as the lending platform in the crypto market.

Atriark is based in the United Kingdom in world famous Silicon Valley. Usually, the team is made from 20 people. The team holds a phenomenal experience thus makes them a strong competitor. The team is made from finance researchers, developers and technicians. I would like to add on that is the team is continuously growing and expanding.

Since Atriark is presenting the crypto-backed loans, so it is perfectly unfair to compare with other lending industry. As the people are looking for the loans but do not carry any crypto. Hence, the projects comparisons should be kept to provide the crypto-backed loans and the most obvious comparison is with crypto.com even when the crypto-backed loan was not launched. Crypto.com is another lending company.

Atriark and the other crypto offers similar services like crypto-backed loans and credit cards. This means Atriark has a bunch of strong competitors but has an advantage of the security token and a much bigger variety of crypto selection. Also, you can lock up as collateral although the company uses its own crypto as the loan.

Economics of Token

Atriark has given the new look to the security token and 30% of the profit is shared with the token holders on the regular basis. There’s a possibility that it can get updated on the weekly basis.

Obviously, the questions can be asked to determine the profit. There are a lot of different ways but at least Atriark gives the assurance of profit gaining in front of the public. Also, Atriark is the first ever dividend paying, asset-backed security token.

In the case of an investor, it is remembered to hold the ATRK in the Atriark wallet. Since ATRK has an ERC-20 token, it can be held in other wallets. Receive dividends from the tokens you have in Atrk wallet.

Conclusion:

Atriark seems to have a serious project which includes so many compelling facts such as a variety of crypto, security token and the card. However, the customer who wants to take a loan should be aware of the interest rates that may end up expensive. All in overall the company has to launch the new features to maximise the profits. For example, it gives some flexibility in the execution of loans which signifies more benefits for the users.