Alendoo (XAL)

What is Alendoo

Innovative technologies such as cryptocurrencies and the Blockchain were invented about ten years ago. Many experts believe that the Bitcoin, which is the oldest and most popular cryptocurrency, can become a true legal tender recognized by the laws and accepted in all parts of the world. On the other hand, the Blockchain is regarded as a revolutionary technology that can be used in all types of industries such as finance, healthcare, data management, IT, Space agencies, Smart Contracts, and Dapps, among others.

There are over 5,000 cryptocurrencies on the market. However, only a small percentage offers real value. Many of the coins or tokens exist only for a short time and become obsolete for reasons such as failure to develop the project, an exit scam occurred, or the investors were too few. Also, market conditions have a significant impact on the success of cryptocurrency projects. The well-known FOMO and FUD form an intrinsic part of the market that influences the success of such projects.

The Alendoo project already has active products. We have been referred to as a “crypto bank” that offers services similar to the traditional banks. However, our operations are based on only cryptocurrencies at the moment. Alendoo customers can take loans with the leverage of their crypto. Customers can also lend crypto and gain fair interests in return. In addition, customers who decide to hold crypto in Alendoo wallets are rewarded with 12% APR interests, at a value higher than what is offered by regular banks.

Our team is impressed by the level of customer satisfaction regarding the Alendoo project, and we plan to extend our offer to become more competitive in the market. To accomplish this goal, Alendoo has decided to launch an Initial Coin Offering (ICO) of their token – Alendoo Token (XAL). The company plans to raise funds to launch a Near Field Communication (NFC) payment application which will be based on cryptocurrencies. Currently, Alendoo Loans are paid out in USDT only, with the aim of giving customers access to a commonly used currency. The company remains committed to offering the benefits of anonymity; hence the traditional Debit or Prepaid Cards cannot be issued because the process will require KYC and AML procedures. Our team found the best solution for the NFC payment project that does not require any card to be connected while it functions. There will be a daily limitation due to standard AML regulations, but the anonymity of our customers will be protected.

Alendoo stands for A- Anonymous and LEND- Lending, as some readers may have already guessed. Alendoo is an advanced cryptocurrency platform that offers crypto backed Loans and Lending for which crypto is used as interest. One of the most important values in Alendoo is anonymity. The government authorities tend to discourage anonymity regarding crypto because they cannot gain access to information about citizen’s assets. Governments compel financial companies to implement Anti-Money Laundering and Know Your Customer policies. The official reasons given for enforcing these policies is the prevention of terrorism funding or money laundering. However, the hidden agenda may be to control individual finances. Bitcoin transactions should be anonymous, but currently, exchanging Bitcoin to USD or another national currency will require proof of your identity, address, and other personal information. This process eliminates anonymity as Bitcoin can be tracked and linked with exchanges that have your personal information.

At Alendoo, we are committed to protecting our customer’s funds from the public; therefore our processes only require an active email address to get started. We do not make details such as company registration public to avoid a ban in the country we are located. Our team takes the necessary measures to protect our customers and promote anonymity. At Alendoo, our motto is, “Your anonymity is our priority.”

Our operations at Alendoo can be likened to a cryptocurrency bank. We offer three types of accounts.

The performance of Alendoo platform is impressive; we meet our customer’s needs and look for opportunities to improve. We have received multiple requests regarding the addition of an option to withdraw Loans in the customer’s national currency. Alendoo is committed to allowing its users to remain anonymous; this is why the company cannot offer an option for withdrawals in FIAT currencies as this process will require KYC verification and AML. It was impossible for the company to find a bank that would cooperate without requesting every customer’s personal details. The process would have been easier a couple months ago when governments were not interested in regulating the crypto market. At that time, many operators offered financial intermediations without KYC; however, these services are no longer anonymous.

It was necessary for Alendoo to ‘think outside the box’ to fulfil its existing promises to customers and find a way to extend their offering by adding Loans paid out in FIATs. An innovative solution has been selected for this issue. Alendoo decided to design an NFC mobile application that will function without the need to register a debit or credit card. The company found a partner who will act as an intermediary for transactions between Alendoo and the customer’s balance. Subsequently, it will be possible to access Alendoo Loans instantly on an NFC application balance; the application will also be used to pay for goods anywhere NFC transactions are done.

The design of an NFC application and creating the right infrastructure for the entire process will require large funding. Alendoo cannot handle this project independently, hence the search for a potential investor. The company has made plans to launch an Initial Coin Offering for their tokenthe Alendoo coin (XAL). The initial calculations revealed that at least USD 3 million is needed to fund the NFC project; this is why the company sets its soft cap at that amount. It is the minimum that must be raised, failure to achieve this will lead to a postponement of the project, and all funds will be returned to investors.

A hard cap was also set at USD 7 million, if it is attained, our team will upgrade the NFC application to have features which allow users to top up their accounts with crypto and receive FIATs if preferred. This task requires additional funds, which will be used to create the initial structure and some level of KYC verification may be necessary as our partner may not be willing to provide anonymous services to a large number of customers. For this reason, Alendoo has initiated talks with other potential partners in consideration of the option to split financial intermediation among different providers.