News and research before you hear about it on CNBC and others. Claim your one week free trial for StreetInsider Premium here.
Hong Kong, Hong Kong–(Newsfile Corp. – June 29, 2022) – BitForex, one of the leading international cryptocurrency exchanges, has released crypto loans in USDT, BTC and ETH. Borrowers can opt for flexible loans 7 days / 14 days / 30 days (extendable up to 180 days) crypto loan terms.
To view an enhanced version of this graphic, please visit:
In crypto lending, anyone with cryptocurrencies in their wallet can lend to the borrower. For the security of these loans, they receive interest on the crypto assets of the borrower. The lender obtains control of the assets. In the event of non-repayment, he can liquidate these assets to recover the amount. BitForex offers a 7-180 day window on these loans to borrowers.
Crypto lending at BitForex is available upon presentation of collateral. Depending on the quality of the assets, borrowers can obtain from 60% to 85% of the value of their collateral. Also, for faster loan approvals, the company has waived the private survey of borrowers. One can access their loans just after completing their approval process.
To start, you must register on BitForex. After that, borrowers can apply for loans. With this, the collateral is transferred from the cash account.
Also, one can get the loan through the same account. Borrowers are free to use this loan for margin trading and spot trading on BitForex. The debtor can repay this amount at any time and he will receive his guarantee in the same cash account from which it was deducted.
One can manually repay BitForex crypto loans by visiting their pending orders page. This page appears on their account once the loan amount is credited to their account. In addition, they offer the possibility of reimbursement in proportion. If they use this option, the corresponding fraction of the promised deposit will be credited to their account.
Crypto borrowing is becoming mainstream, as it frees the borrower from going through banks, signing a car/house as collateral, signing documents, etc. Borrowers who own bitcoins/ether (other currencies) can pledge these digital assets and get stablecoins. These stablecoins are convertible into local currencies. The loan is available despite the borrower’s credit rating and it preserves his privacy. The crypto loans offered by BitForex are very flexible, as one can receive the loan within minutes.
BitForex is a cryptocurrency exchange offering trading options such as derivatives and margin and token trading. It offers a safe and convenient digital currency trading platform for new age financial options. Currently, it offers more than 300 pairs in spot trading. Also, the platform provides turbo launchpad (IEO, INO, Vote for listing), NFTs and crypto loans. For convenience, BitForex excludes crypto payments from debit/credit cards. Moreover, users can access and trade on Android and iOS apps, apart from its web version. Based in Hong Kong, Bitforex has over 6 million users and is present in over 200 countries. Currently, it includes operational teams in Europe, Asia and the Pacific regions. BitForex operates under the leadership of Jason Luo.
Last name: Henry F.
E-mail: [email protected]
Address: ROOM.2309,23/F, HO KING COMM CTR, 2-16 FA YUEN STREET, MONGKOK, KL
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129337