Asked on 19 Apr 2019
I have been looking at CoAssets but trying to get my head around, default rates etc. Eg. If I have invested $1,000 on its campaign when the interest is 5%, and the tenture date is 6 months, can I assume that I will be getting $1,050 after the tenture date? Also should the campaign fails to secure the needed amount, can I safely presume that I will not be able to get back the 1k that has been invested?
Based on the scenarios that you mentioned above, i will be able to answer you since i have invested via coassets before and faced the same situations as you.
1) if there is a project which you funded but eventually the project is not fully funded, you will receive a refund for it back into your coassets account. you can decide if you want to withdraw or leave it there for other investment projects.
2) regarding the rates, it will be best to clarify with the coassets staff directly. The project details will indicate specifically the amount you will receive based on what you invested.
Attached is my transaction history in coassets for reference
Getty here, I’m the CEO of CoAssets. Great question!!👍👍
We will typically add “p.a.” Or “Per Annum”. If that’s the case, 5% p.a. means that you will get 5% for a 1 year investment. So if the tenure is only 6months and if you invest $1,000, you will get $25 (half of 5%).
If the funding is unsuccessful, you will get 100% refund of investment amount. No fee. No questions asked.
So I hope it helps. 😅😅😅 Looking forward to more questions from you 💪🏻💪🏻💪🏻
The interest given is always annual rate like any financial institution. So using your example , it will be 5% per annum. Means if the loan is 6 months tenure , your 1k will get $1025 after 6 months if loan success and complete all returns.
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