CoinsKart Wallets Explained

Wallets are storage points on CoinsKart which holds balance of certain currencies.
There are several wallets on your CoinsKart Dashboard.

1. The Cryptocurrency Wallet - Which holds Balances to your cryptocurrencies deposits and purchases.
2. The Fiat Wallet - Which holds balance to your Ghana Cedi deposits.
3. The Escrow Wallet - Which holds all your contract balance.

The Cryptocurrency Wallet

Your CoinsKart Cryptocurrency wallet is in the Wallet tab of your Dashboard when you Signin to your CoinsKart Account.
Your Crypto Wallet holds all balances to all your cryptocurrencies.
You are free to Store, Send, Receive or transact with any cryptocurrency that appears on your CoinsKart Cryptocurrency Wallet.

The Fiat Wallet

The Fiat Wallet is located on the Account tab menu items after Signing into your CoinsKart Account.
The Fiat Wallet holds currencies such as Ghana Cedi, US Dollar, etc.
You can Deposit or Withdraw money to Ghana Cedi Wallet through any of your verified Mobile Money numbers and Bank Accounts.
You can also use it to Send and Receive money from other CoinsKart users with your Email Address.

The Escrow Wallet

The Escrow Wallet is located on the Account tab menu items when you Signin to your CoinsKart Account.
The Escrow Wallet holds all your contract balances. And these balances are moved there to ensure that centain obligations are met when the time is due.
If you have any money on the Escrow Wallet it means you have a pending contract.
What exactly will I do for my money to be moved here?
Below are the list of things you will do on CoinsKart for money to be moved to your Escrow wallet;

1. When you Borrow money through our Peer-to-Peer Lending programme, the collateral will be moved from your active wallet to the Escrow Wallet.
2. When you are a Crypto Vendor on CoinsKart and you create an offer, the offer amount will be deducted from your active wallet to your Escrow Wallet. This is to ensure that, when someone Buys or Sells Cryptocurrency to you through the offer you have created, the transaction is completed instantly.
3. When you are a Lender on CoinsKart and you create a loan offer, the amount will be deducted from your active wallet to your Escrow Wallet. This is to ensure that, when someone Borrows money from you through the offer you create, it's given to them instantly.

How to Deposit Money to CoinsKart through Mobile Money

Please read the following Instructions carefully.
You can deposit money to your CoinsKart Ghana Cedi Wallet through any of your verified Mobile Money numbers.

1. Click on the Account tab on your CoinsKart Dashboard.
2. Click on the Deposit tab.
3. Click on the Momo Deposit tab.
4. Fill in the Deposit Form and click Submit.
5. You will automatically be redirected to Invoices page.
6. Click Pay Now.
7. Follow the payment instructions carefully.
8. After payment, Copy the transaction id sent to you by your Mobile Money provider.
9. Go to back to your CoinsKart Account to the Invoices page and click Pay Now.
10. At the Buttom of the Payment Instructions Click on I Have Paid.
11. Paste the transaction id you have copied to the input field and then Click Submit.
12. Wait for your transaction to be Approved for spending within 5 - 10 minutes.

How to Withdraw Money to CoinsKart through Mobile Money

Please read the following Instructions carefully.
You can withdraw money from your CoinsKart Ghana Cedi Wallet through any of your verified Mobile Money numbers.

1. Click on the Account tab on your CoinsKart Dashboard.
2. Click on the Withdrawal tab.
3. Click on the Momo Withdrawal tab.
4. Fill in the Withdrawal Form and click Submit.
   NOTE: If the Mobile Money Number you are withdrawing to is not available in the withdrawal options You have verify the number by going to Momo Wallets on the Account tab to verify the number before.
5. You will automatically be redirected to Invoices page.
6. Wait for your Withdrawal to be Approved within 5 - 10 minutes.

Borrowing Money on CoinsKart

Our Peer to Peer Lending programme helps cryptocurrency holders on CoinsKart have access to financial assisstance from other peers incase of Emergency.
You Don't Have to Sell your Bitcoin Anymore in times of emergency, if you Dont't want to. We got you covered.

Do CoinsKart Offer Loans without collateral?

The ANSWER is NO.
You MUST have collateral in other to Borrow Money from any of our Cherishable Lenders.
Our system currently Accepts two Cryptocurrencies as Collateral Bitcoin and Tether(USDT). We beleive, these are relatively stable assets and will reduce the chances of you getting margin called.
NOTE:
WE ONLY OFFER PEER TO PEER CRYPTOCURRENCY BACKED LOANS. WE DO NOT ACCEPT ANY OTHER FORM OF COLLATERAL.

Do you take All my Bitcoin or Crypto in my accounts as collateral?

The Answer is NO.
The system has a formula for taking the collateral. The formula the system uses is structure in a way to protect the Borrower from easily loosing the collateral and it also protects the Lender to Gain back his/her money plus the interest.
Click the Button Below to see the Loan Calculator in Action.

What Happens to my collateral if I failed to payback the Loan?

The system will automatically takeout the exact amount needed to payback the Loan plus the interest from the collateral and then Sell it to payback the Lender.
The remaining balance from the collateral (if any) will be credited back to your accounts.

Does it mean, there is no penalty fee for Defaulters?

The ANSWER is YES.
There are no penalty for Defaulters. You couldn't payback, Why punish you for that?, When we can get the money back through the collateral.

Where can I find my collateral?

You can find your collaterals on the Escrow Wallet in the Account tab menu items.
NOTE:
Balance found on the Escrow Wallet is unspendable by the customer.
If you have any balance on your Escrow Wallet, It means, you have a pending contract.

What About Borrowing Fees?

We Charge ZERO LENDING/BORROWING FEES (Apart from the one set by the Lender).
And we currently do not have any future plans of charging any fees on our Lending programme.

What happens if the value of the collateral goes below the repayment amount?

There is an automated margin call system in place, In events the collateral value goes below a certain threshold, the system is likely to liquidate the collateral to payback the loan plus the interest to prevent looses even before the repayment time is due.

Steps to Borrow Money

1. CREATE AN ACCOUNT (If you don't have one) - Click here to Signup.
2. SIGN INTO YOUR ACCOUNT - Click here to Signin.
3. Go to the Trades tab on your Dashboard.
4. Click on Borrow Money on your Trades tab items.
5. Click on Loan Offers.
6. Select from any of the competing list of offers that you like to accept.
7. Fill in the Form and Submit. Bravo, you will instantly get the money credited to your Accounts.

Becoming a Lender

Lenders create offer(s) to provide Loans to others on CoinsKart at an interest.
Lenders creates competing bids of loan offers so that, cryptocurrency holders on CoinsKart looking to Borrow money can get a better and affordable loan.

How do Lenders make money?

Lenders offer help to cryptocurrency holders on CoinsKart in the form of Loans.
Being a Lender on CoinsKart is a serious Business. You have the opportunity to give safer loans to those in need at an interest.
You are free to set the interest rate and repayment time period on your loan offer. Though, Setting lower interest rate increase your chances of your offer getting accepted by a Borrower.

How Safe is my money as a Lender?

Want a Simple Answer?
Highly safe. It's even safer than Lending Money to your Friend/Family member.
How?
When a Lender create's a Loan offer and someone Borrow's from the Lender. The system takes part or all of their Bitcoin holdings as collateral. If the Borrower doesn't repay the Loan with the interest before the due date, the system will Sell the Bitcoin to payback the Loan Principal with the Interest and the remaining balance if any, will be credited back to the Borrower.
To further understand our Lending Programme Read more on - Borrowing Money on CoinsKart.

What About Lender Fees?

We Charge ZERO BORROWING FEES (Apart from the one set by the Lender).
We charge Lenders % fee on the profit they make whenever someone Borrows from them and Repays.

Steps to Become a Lender

1. CREATE AN ACCOUNT (If you don't have one) - Click here to Signup.
2. SIGN INTO YOUR ACCOUNT - Click here to Signin.
3. Go to the Accounts tab on your Dashboard.
4. Click on Become a Lender on your Account tab items.
5. Click on Create Loan Offer and fill in the form.

Becoming a Vendor

Vendors create offer(s) to Buy or Sell Bitcoin and other cryptocurrencies on CoinsKart.
Vendors creates competing bids of offers so that, those looking to Buy or Sell Bitcoin can get a better and fairer deal.

Do Vendors make money?

The answer is obviously YES.
Being a Crypto Vendor on CoinsKart is a serious Business. You get to set the price and rate of the crypto asset(s) you choose to trade and make money when someone Buy or Sell Bitcoin or any other cryptocurrency to you.
You also get a market exposure to hundreds of thousands of traders online everyday looking to Trade Bitcoin and other cryptocurrencies.

Why Become a Vendor on CoinsKart?

Want a Simple Answer?
Because, Being a Vendor here is stress free, since the Platform Does Everything on your behalf.
How?
When a Vendor creates an offer, there is no need for him/her to be online anytime someone wants to Buy or Sell Bitcoin to him/her. The system takes care of everything on your behalf. So, NO NEED WORRY ANYMORE. You Just Need do the following:

1. CREATE YOUR OFFER - to Buy or Sell any cryptocurrency of your faviourite.
2. Then, Relax and go on with your busy daily activities. We got you covered.

What about Vendor Fees, It's probably high right?

Suprisingly, The Answer is a Big NO.
We charge Vendors a % fee on each trade they make on their offer.

Steps to Become a Vendor on CoinsKart

1. CREATE AN ACCOUNT (If you don't have one) - Click here to Signup.
2. SIGN INTO YOUR ACCOUNT - Click here to Signin.
3. Go to the Accounts tab on your Dashboard.
4. Click on Vendor on your Account tab items.
5. Click on Create Offer and fill in the form.

How to Transfer Money to Other Users on CoinsKart

There are several ways you can transfer money to others on CoinsKart.
But this Section is to show you How to Transfer Money to others through your Ghana Cedi Wallet.

1. Click on the Account tab on your CoinsKart Dashboard.
2. Click on Transfer on the to part of the Account tab menu items.
3. Fill in the Transfer Form and then Submit to finalised the transfer.
   BRAVO!, you have successfully transfer money to a friend or family.

How to Buy Airtime

Please read the following Instructions carefully.
If you have money or cryptocurrency on your CoinsKart Account you can purchase Airtime with it.

1. Click on the Other tab on your CoinsKart Dashboard.
2. Click on the Buy Airtime tab.
3. Fill in the Aitime Purchase Form and click Submit.
4. Wait patient for network provider to credit you with the airtime.