Bank - ICBCoin

Transfers

International transfers can be made with cryptocurrencies for very small commission.

In our system there are two kinds of transfers – simple (1 ICBC) and private (5 ICBC):

Simple transfer – can be fully viewed by everybody in the Explorer.
Private transfer – only the hash value is shown in the Explorer. This takes longer than a simple transfer, because it passes several times through the platform, making it a private transfer

Deposits

Deposit – an amount of ICB coins that is placed in the bank which gives interest.

Gold (ICBC)

On Gold coin deposits from 1 coin a daily*¹ interest payment will be made, according to the following table:

20% yearly interest rate during the 1^st year
17% yearly interest rate during the 2^nd year
14% yearly interest rate during the 3^rdyear
3% yearly interest rate during the 4^th and next years

Silver

Silver deposits from 1 coin will be paid at a yearly interest rate of 33% on a daily basis.
Silver can be bought on the domestic exchange (in the wallet) for gold (ICBC).

*¹ - the year starts counting from the day that the genesis block is created in the blockchain

Loans

Loans – obtaining a specified number of coins for temporary use.
Silver coins are converted to Credit coins and added to the loan obtainer’s account through an on-site bidding process.
After the end of the loan contract ends, the amount is automatically returned to the lender.
Interest on the loan needs to be paid in advance.