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Joy
Mon, September 16, 2024 at 11:44
Joy
Hey Annie!
Guess what?
SwapSpace just launched a new feature called Crypto Loans in collaboration with CoinRabbit!π
Annie
Oh, really?
That sounds interesting!
What exactly is a Crypto Loan?π€
Joy
So, basically, with Crypto Loans, you can borrow stablecoins without having to sell your digital assets.
It's perfect for those who want to keep their long-term crypto investments while still getting some liquidity for other needs.
Cool, right?π
Annie
Wow, that does sound cool!
What kind of cryptocurrencies can you use as collateral?π°
ADward
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Joy
You can use a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and over 3,350 other digital assets.
So, there's a lot of flexibility in what you can use as collateral.π
Annie
That's a lot of options!
How does the lending process work?
Is it complicated?π§
Joy
Not at all!
The process is super simple and quick.
You just select your preferred loan-to-value (LTV) ratio, which gives you flexibility in how much you want to borrow against your collateral.
You can typically create a collateralized position within 5-10 minutes.π
Annie
That sounds efficient!
What about the interest rates?
Are they competitive?πΈ
Joy
Absolutely!
SwapSpace offers competitive interest rates based on market conditions.
This helps borrowers balance the value of their loan while managing the cost of holding it.π
Annie
Good to know!
How secure are these loans?
Security is a big concern for me.π
Joy
Totally get that!
SwapSpace keeps assets in unique wallets with regularly updated private keys for enhanced security.
So, your assets are well-protected.π‘οΈ
Annie
Phew, that's reassuring!
Are there any flexible terms for repaying these loans?π
Joy
Yes, the loans have flexible terms and can be repaid at any time.
The accrued interest is only paid upon closure of the loan.
Plus, there are varied LTV ratios available, which affect the APR, ranging from 12 to 17%.π
Annie
That's pretty flexible!
Why did SwapSpace decide to introduce this feature now?π€
Joy
Great question!
With more investors looking for ways to make the most of their crypto assets without compromising their market position, this feature is a game-changer.
It allows users to unlock liquidity without missing out on the potential upside of their assets.π
Annie
Sounds like a smart move!
Do you think this will have a positive impact on the market?π
Joy
Definitely!
By providing more financial flexibility, it can attract more users to the platform and encourage long-term holding of crypto assets, which is generally a positive signal for the market.π
Annie
Thanks for explaining, Joy!
This sounds like a great opportunity for crypto investors.π
Joy
No problem, Annie!
I'm super excited about this too.
Can't wait to see how it impacts the crypto world!π
To sum up, this article is considered a πBullish for investors!!