Why Use A-EUR? Taking Out a Loan and Other Benefits

How to take a loan in  A-EUR, make payments for free in the MT Wallet and exchange the A-EUR back into Euros at a cost close to 0%.

 

ModulTrade recently integrated the A-EUR stable token into its digital wallet, the MT Wallet.

  • The A-EUR is a stablecoin targeting a 1:1 exchange rate with the Euro currency, which makes it easier to enjoy all benefits of cryptocurrencies (like transparency, security, privacy) while addressing price volatility issues.

 

MT Wallet users can easily send and receive A-EUR for free on their wallet.   

 

What can be the A-EUR used for and what are its benefits?

 

In e-commerce, to buy/sell goods securely and cost-effectively

  • buyers don’t need to leave their credit card data, minimizing the exposure to identity thefts and other kinds of frauds
  • unlike with trades paid with credit cards, sellers are not conditioned to credit card reimbursement times, collecting immediately (within a few seconds, not days) and at a much lower cost than traditional e-commerce tools
  • you do not even need a banking account to start selling on the MT Market, an MT Wallet account is enough.

For P2P money transfers to send/receive money

  • people can send money to other people around the world in real time and with minimal transaction costs (for free with MT Wallet)
  • people can send remittances to their family abroad much faster and at extremely lower costs compared to classic money transfers

For risk management to hedge against FX risk

  • To protect yourself against currency risk without having to open a foreign currency account if you live in high-inflation countries or where there are large fluctuations in the exchange rate (eg Venezuela, Argentina, etc.)
  • To protect your crypto investments portfolio in bearish times without having to exchange into fiat currency

For taking a loan linked to the Euro using your ETH holdings as collateral, while maintaining your ETH position

  • real-time
  • without any credit grant application

 

How can you obtain a loan in A-EUR?

 

You can take a loan in A-EUR against a collateral in ETH (Stay in your ETH position in the meanwhile) at Augmint and soon directly in the MT Wallet

For taking a loan in A-EUR at Augmint you need to:

  1. Have a metamask wallet with ETH balance. (if you don’t have one yet, you can download it here)
  2. Login in your metamask wallet and navigate to Augmint.org and click on “My Account”

  3. Connect your Metamask wallet to Augmint by clicking “Connect”

  4. Now you are connected to the Main network. Click on the “Loan” on the left side menu.

  5. This will take you to the loan site. Here you can see your existing and past loans. Click on “Get a new loan”.

  6. Set the details of your new loan:
    1. Select the amount that you want to pay back on the due date. The amount you will get as a loan will be this amount minus the interest for the relevant period. Right next to it, you will see the ETH amount required as collateral for this loan. This ETH amount will be placed on an escrow. Please note that this ETH amount should be available in your Metamask wallet to be able to proceed with the loan.
    2. Select the maturity of your loan. You can choose from 6 options ranging from 7 days to up to 1 year. Below that, you can see a summary overview of your loan (repayment date, interest rate, required collateral ratio)
    3. Click on “Get loan” and that’s it! Your requested A-EUR amount will appear in your wallet!

 

How can you convert the A-EUR back into Euros or into other cryptocurrencies?

The A-EUR could be converted into:

  • ETH at  Augmint
  • BTC and ETH at MT Wallet
  • Euros on your own IBAN account at MrCoin. For this, please follow the following steps. 

 

  1. Navigate to MrCoin.eu and click on “Sell cryptocurrencies”

  2. Currently, MrCoin is updating its website to make the process easier. Meanwhile, you can use this form.

  3. Fill out this form and choose A-EUR and EUR for the relevant fields.

  4. Send the request form when done. Mr Coin will get in touch with you shortly by email.Please note that for crypto-fiat conversion, a KYC check is required before the exchange. You can learn more about the different KYC levels here.

 

Stay tuned for the latest news!

 

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