Posted by admin, June 8, 2018

Making the Most of L-Pesa Token

L-Pesa started as a service that offers microloans to any customers who have access to a mobile device. These are offered in East Africa, Kenya, Tanzania and Uganda, catering to those who have been marginalized by complex financial systems. The services of L-Pesa have grown exponentially over the years, and now, one can gain access to L-Pesa cryptocurrencies as well on the L-Pesa platform. Here is how you can go about making the most of L-Pesa services.

Unsecured Cash Loans

The best thing about L-Pesa is being able to gain access to unsecured loans from the convenience of a mobile device. Now, it is possible to access these loans, and pay for the service using L-Pesa Utility Tokens. You can need to use a mix of both fiat and tokens.

There are also different types of loans that you can access. For an individual started loan, you can get a total of $1, with a loan processing fee being 1% of the fiat. The maximum amount that you can take out as a personal loan is $3,000. You will then be charged with a coin fee of 5.35% which you can pay via the tokens for each loan, as well as a fiat processing fee of 1%.

The other type of loan that you can take out is the starter business loan that is worth a minimum of $50 or a maximum of $5,000. For this, the loan processing fee is a 2% pay with fiat as well as an 8.55% coin fee.

Moving into the future of progressive finance, L-Pesa will be able to offer a Loan Processing Fee that merges both of these fees into one, making it even easier for anyone to gain access to a micro loan.

This information is important to note for the token set up on the L-Pesa platform making use of the LPK tokens.

Types of L-Pesa Users

The type of user on L-Pesa is worth noting as well when it comes to taking out an L-Pesa loan where the LPK tokens are involved. Old users are those that were already actively using the platform when the coins were first distributed in December 2017. These users were able to receive a total of 2,500 coins since they were already registered and verified. From this exercise, there were a total of 275,000,000 free coins issued. Those who have the L-Pesa coins on in their L-Pesa wallets will be able to use them to pay the coin fee, which comes up to 5.35% for individuals or personal loans, or 8.35% for business loans. When used, the coins are deducted and the placed in their L-Pesa Business Development account. Users will only be tasked with paying the 1% processing fee for the personal loans, or the 2% processing fee for the business loans.

New users abide by terms that are a little different because they may not have any coins. For them, they start out with the L-Pesa starter loan that is worth $1, then the processing fee payment will be added to the actual loan where the user will include payment o9f the coin fee in the future repayments. If the new user receives L-Pesa coins in their L-Pesa wallet, then they will be able to use them for other services. L-Pesa will send coins to the user from the L-Pesa reserve.

Elevate the Credit Score Level

Users who make use of coins have the chance to elevate their credit score. A massive benefit comes from this, and that is being able to get larger unsecured loans that are between the value of $1 and $3000. It will then be possible to also enjoy lower interest rates as well as a host of more benefits. This is something that L-Pesa has been doing for an extended period of time, making it easer for people to gain access to larger loans over time. It is now possible to elevate the credit score level of L-Pesa customers with coins so that they will be able to replace them with LPK tokens. This works well since L-Pesa will add the credit score points, deduct the number of coins from the user, and then move coins to the L-Pesa Business Development account.