This service allows users to lock in a fixed Annual Percentage Rate (APR) for the entire duration of their loan.
It ensures a smooth and straightforward financial experience for both borrowers and suppliers. Let’s discover more about Binance Loans.
Fixed APR Loans for Stable and Predictable Trading
For those looking to borrow, the process begins by placing an order. Users can start by selecting “I want to Borrow” or clicking “Borrow” next to their preferred order in the Borrow Market. After placing the order, borrowers must set collateral from their Spot Wallet to meet the LTV ratio.
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On the flip side, supplying funds with Fixed Rate Loans is equally straightforward. Suppliers start by placing an order through the “I want to Supply” option or by clicking “Supply” next to a preferred order in the Supply Market. After setting up the supply order, they confirm the details and Terms & Conditions. Once the order is matched, the supplied funds are transferred from the Spot Wallet and are protected by Binance for the duration of the loan.
Interest on the return begins to accrue as soon as the order is matched. Suppliers can track their order status in the “Ongoing Order” section of “My Order.” After the loan period expires, Binance returns the loaned assets and accrued interest to the Spot Wallet within 24 hours.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
