Another huge milestone for Huobi global. The exchange recently announced the launch of its customer-to-customer (C2C) lending on its platform on May 21.
According to an official blog post, Huobi disclosed that this C2C launch would provide users with a 50% discount on service charges. Previously, the platform fee was 18%. Following the initial launch of its C2C platform, service fees were now down to 8%. To enjoy this service, however, users would need to download the most recent Huobi App version or log onto the exchange platform website.
About Huobi C2C lending service
Huobi C2C lending comes at a time when lending funds using crypto is becoming a popular trend. For example, the fintech platform Crypto.com had also recently made important updates to its lending platform.
Huobi’s C2C lending service platform, essentially, provides a meeting point for C2C token lenders and borrowers. while also matching them with one another. The lending service is divided into two parts, namely:
C2C Loan – This feature enables the token holders to lend their tokens out at a specified daily interest rate. Borrowers have the liberty to choose whose token they would like to accept. They would also pay the lender the agreed token interest rate daily.
C2C Borrow – This service is majorly for the margin traders. It provides them with the option of lending at a much cheaper interest rate. Users looking to enjoy the C2C Borrow service do not need to hold any Huobi token (HT). They will also enjoy a daily interest rate of 0.02%. Users can easily locate the C2C Borrow feature on the Huobi C2C Margin. Users logging in through the official website will find C2C Margin in the “Margin trading zone“.
The Huobi blog also provided guides to C2C Loan and C2C Borrow for its users.
There are however several guidelines regulating the C2C platform launch which will likely undergo several reviews in subsequent times. Normal users have an HT holding level of 1-6, while VIP users enjoy a much higher loan limit.
Below is a table showing the Huobi token holding level and its respective loan limit.
|Level (HT Holding)||Loan Limit (USDT)||Loan Limit (BTC)|
It is pertinent to that determining the HT holding level was based on a random daily HT position.
VIP members on the platform enjoy a lot of benefits like Aladdin Wish, Huobi University, Reduced Risk Rate, Huobi Gala Reception. Increased Loan Limits, Increased Withdrawal Limits, Fast Deposit/Withdrawals, and VIP Summit are also not left out. VIP members also have access to Huobi Management, VIP Mystery Gift, Advanced Blockchain Training Courses, Market Research and so much more.
We previously covered Huobi launch of its on-chain analytical tool Star Atlas. It also announced support for the recently launched HIVE network.