Seychelles-based crypto exchange Bitget has launched a crypto lending service dubbed Crypto Loans to allow its users to stake crypto assets in low demand. The firm said its lending service uses traditional financial services as a base for the pattern. Through the new products, Bitget users will be able to borrow more liquid crypto assets by staking their coins in low demand. - Users will receive a corresponding quantity in another asset for each coin they stake.
- The platform has yet to specify the tokens eligible for the lending service.
- Each loan will have a specific interest rate.
- Borrowing periods will be determined in advance, but users will be able to repay the loan early.
- Bitget users will be able to automatically receive the loan, spend the funds, and adjust the collateral after staking their coins.
- The platform will offer a swift review for loan applications, along with several other security measures.
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