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A Review of Bankera, Blockchain-based Financial Services Platform

Avatar Guest Author 2 months ago

Business: Blockchain-based financial services for individuals and businesses
Live products: SpectroCoin, Bankera Loans, Bankera Exchange


Bankera is building the banking solution for the blockchain era. It offers an entire range of services for individuals and business entities alike. The entire Bankera’s ecosystem traces back to what is now one of its most successful products – SpectroCoin – a crypto wallet and a brokerage platform. The ecosystem continues to grow and produce new products and services. In this piece, we’ll be looking into all things Bankera.

Financial Products

Bankera Loans

As a staple of the industry, traditional banking solutions carry out complex and otherwise burdensome procedures when issuing loans. Often a financial institution has to look at the eligibility criteria for the loan, tenure, credit score, assets at hand, etc. As you can imagine, these procedures are time-consuming to put it lightly. However, for the last couple of years, the traditional lending industry has faced some serious competition. An advent in blockchain-based lending has had an enormous effect on the industry in just a few years; as of now, crypto-backed loans make up a vast market which by most estimations is now worth over $5 billion.

Quite naturally, the crypto-backed loans market is quite crowded. Bankera Loans is one player among many currently operating as blockchain-based lending solutions; the project itself went live in Q3 2019.

There are a couple of things about Bankera Loans that make it an appealing choice for taking out a crypto-backed loan. First, the platform’s entry limit is the lowest among its competitors; the minimum entry stands at 25 EUR, which in turn allows the company to reach a broader and more diverse demographic. Compare that to the average entry limit of $500 that the competition offers, and it’s not surprising whatsoever that Bankera Loans stands out in the crowd.

High Loan-to-Value ratio is another thing that makes Bankera Loans a prominent player in the market. The platform offers an LTV as high as 75%, which at times can be the edge over the industry’s average LTV of 50%.

As in most instances, Bankera Loans issues credit for twelve months; due to flexible repayment scheduling options, users can easily extend the maturity date if that is needed. Also, Bankera Loans does not impose fixed monthly installments, which means that you can start paying back at any interval without having to worry about early repayment penalties. The interest rates that you pay on your crypto-backed loan can vary based on the terms of the agreement, loan size, etc. At the lower end, you can get an APR of 6.95%, while at the opposing side you might face an APR of 15.95%.

Being a blockchain-based platform, Bankera’s services are global in nature. Users on the platform can operate their accounts from anywhere. Even the loans can be withdrawn from across the globe in either Tether (USDT), Bitcoin (BTC), Ether (ETH), NEM (XEM), Dash (DASH) or Banker (BNK). However, fiat withdrawals are limited to Euro bank accounts. The platform currently has three different loan packages:

  1. Lowest Rates
  2. Most Popular
  3. Max LTV.

Depending on the package selection, the LTV and interest rates vary. The Lowest Rates offers an LTV of 25% and interest rates starting at 6.95% whereas the Most Popular package has an LTV of 50% and a 9.95% interest rate. Not surprisingly, the Max LTV package has the maximum LTV, which goes as high as 75% and offers interest rates starting at 12.95% and going up.

Additionally, you can use Bankera’s native Banker token (BNK) to pay the interest on loans obtained from the platform. This will allow the borrowers to lower the interest rates on credit further.

More information on Bankera Loans and how to obtain a crypto-backed loan is available here:

Bankera Exchange

Bankera Exchange is a global peer-to-peer cryptocurrency trading platform. Currently, Bankera Exchange lists thirteen different cryptocurrencies on the platform (BTC, ETH, USDT, BNK, XEM, DASH, Paxos Standard (PAX), USD Coin (USDC), TrueUSD (TUSD), Stellar Lumens (XLM), Zcash (ZEC), Litecoin (LTC), and XRP), with a hint of adding more soon. All BNK pairs on the platform can be traded commission-free.

While Bankera Exchange is a crypto-to-crypto exchange, users can still leverage on its sister platform – SpectroCoin to purchase cryptocurrencies using fiat to fuel their trading endeavors, and send the acquired assets to Bankera Exchange completely fee-free.

When it comes to security, Bankera Exchange ensures that all the necessary checks and safeguards are in place. All user information is fully secured with the aid of state-of-the-art encryption. Bankera Exchange also supplies additional security features like 2-factor authentication and address whitelisting.

The start of it all – SpectroCoin

One of Bankera’s essential products remains their very first one – SpectroCoin. What started as a simple idea now has blossomed into an all-in-one web-based crypto solution. The project went live in 2013 and grew quickly. As of now, more than a million users enjoy a variety of services that SpectroCoin provides.

Back in 2013, SpectroCoin went live with an exchange platform intended for trading and purchasing cryptocurrencies. With 30 fiat and cryptocurrencies and 15 deposit options, SpectroCoin nowadays is a go-to crypto solution for a wide range of consumers around the globe.

In addition, SpectroCoin provides a blockchain wallet to securely store cryptocurrencies such as BTC, ETH, XEM and DASH. Users have access to their digital assets at all times thanks to the state-of-the-art mobile wallet for iOS and Android. To ensure security, SpectroCoin stores 99% of all digital currency in deep cold wallets.

Now couple the already mentioned services with a prepaid debit card and you’ve got yourself the all-in-one crypto solution. SpectroCoin offers prepaid cards that are fully compatible with ATMs all around the world. An added bonus – funds from your account can be loaded to your card automatically. A fee of just €7 for the prepaid card is more than worth it, especially for anyone who wants to bridge the gap between crypto and fiat in the trenches of daily life.

Finally, SpectroCoin caters to merchants by offering a variety of integration tools such as e-commerce plugins and Payment Processing APIs that allow businesses to accept cryptocurrency payments at physical and online stores. Stated otherwise, the platform provides a payment processing solution with low processing fees and easy integration. Keep in mind that a lot of traditional financial institutions tend to lack and even ignore such payment processing solutions altogether.

Gradually, SpectroCoin has made a name for itself as a reliable go-to for crypto solutions. Hopefully, the growth does not stop, and improvements continue to pile on.

Customer Support

Though frequently overlooked or ignored altogether, customer support services can come in handy at the most unexpected time. As a rule of thumb, we highly recommend learning as much as possible about the quality and availability of customer support services beforehand. Understanding the worth of quality support services, it is not surprising that Bankera provides each product-line with a dedicated customer support team available 24/7.


Bankera is still an ecosystem in the making. However, it has already proven its worth with three excellent and otherwise reputable products. Although SpectroCoin doesn’t require an introduction, the other products, namely Bankera Exchange and Bankera Loans are driving the company in the right direction and continue its overall growth. With all that in mind, it’s not hard to see that the Bankera is firmly establishing itself as a solid player in the competitive blockchain-based finance industry

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