October 2, 2022

Bitfinex introduces crypto loans including bitcoin (BTC) and ether (ETH)

1 min read

Bitfinex, a popular cryptocurrency exchange platform, today announced it has launched bitcoin (BTC) and ether (ETH) individual loans on Bitfinex Borrow, a peer-to-peer (P2P) digital token loan website.
Customers can utilize United States Dollars (USD), Tether tokens (USDt), euro (EUR), or yen (JPY) held on the platform as collateral to acquire a loan in BTC. Borrowers can utilize USD held on the platform as security to obtain a loan in ETH.
Even more, customers will be able to get BTC loans of as much as 80% of the worth of their USD, USDt, or EUR holdings, or up to 70% of the worth of their JPY holdings. Customers will have the ability to acquire ETH loans of approximately 80% of the worth of their USD holdings.
” Were pleased to introduce bitcoin and Ethereum peer-to-peer loans for our growing consumer base upon Bitfinex Borrow,” stated Paolo Ardoino, CTO at Bitfinex. “These newest additions to Bitfinex Borrow further shows our commitment to delivering quality products for our users.”
BTC and ETH loans impose a normal Annual Percentage Rate (APR) of roughly 4.16% and 1.14%, respectively.
While completely verified users will have complete access to Bitfinex Borrow, users verified at the intermediate level will not be able to withdraw the obtained tokens from the platform.
Bitfinex Borrow user interface allows users to set terms
CryptoNinjas” Bitfinex presents crypto loans consisting of bitcoin (BTC) and ether (ETH).