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CoinEx crypto exchange introduces Crypto Loans
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| Last updated: November 7th, 2023
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Starting from Oct. 12, 2023, CoinEx, a top-tier cryptocurrency exchange ecosystem, is offering crypto loans. It accepts Bitcoin (BTC) and 18 major altcoins as collateral, the official team’s statement says.
1/ Introducing "CoinEx Crypto Loans" — a financial service that meets your short-term liquidity needs. Use your crypto assets as collateral to borrow other cryptocurrencies. ??
Announcement details: https://t.co/TH97XXZKss#CoinEx pic.twitter.com/T04Auqozw8
— CoinEx Global (@coinexcom) October 13, 2023
Crypto Loans by CoinEx is introduced as an instrument for short-term liquidity needs that allows users to borrow cryptos for trading, investment or withdrawal by collateralizing one or more types of other crypto assets, thereby increasing the liquidity and utilization of personal funds.
Crypto Loans services should be described separately from loans associated with margin trading. Instead of short-term profits, therefore, crypto loans on CoinEx can be helpful in building midterm trading strategies.
Also, with loaned coins, CoinEx customers can diversify their portfolios and enjoy a variety of profitable services on the platform via a single interface.
As stressed by representatives of CoinEx, this addition is of paramount importance for the platform’s performance and adoption:
Crypto Loans not only helps users access more liquidity and improve capital efficiency but also offers a more diverse selection of financial tools. With CoinEx’s Finance section, users can now opt for AMM, Financial, and Loans based on their financial profile and investment goals.
In September 2023, the platform scored Golden Partner status at Singapore’s Token 2049 conference, one of the largest events in Web3.
Super-low interest rate for USDT loans
CoinEx accepts various tokens as collateral for USDT loans. The range of assets supported includes Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), XRP, Dogecoin (DOGE), Cardano (ADA), Solana (SOL), Tronics (TRX), Polkadot (DOT), Polygon (MATIC), Litecoin (LTC), Shiba Inu (SHIB), Bitcoin Cash (BCH), Chainlink (LINK), Cosmos (ATOM), Ethereum Classic (ETC), Arbitrum (ARB), as well as CET, the platform’s native utility token.
All loans are available with a 0.02% daily interest rate. Also, the exchange offers one of the highest loan-to-value ratios in the industry.
On CoinEx, if a borrower cannot repay a loan with the coin they borrowed, they could simply pay off the debt with collateral. This totally removes the need for forced liquidations and alternative liquidity injections.
Disclaimer: This is a paid post and should not be treated as news/advice.
