Coindcx Indian Crypto Exchange Launches New Lending Program For BTC, USDT, BNB, XRP And ETH

Indian Cryptocurrency Exchange Launches New Lending Program In Virtual Currencies

Coindcx, a recognized Indian cryptocurrency exchange, has launched a new program that allows users to earn interest on their digital assets that they hold on the exchange. There are five virtual currencies that will be supported by the platform, including Bitcoin (BTC), Binance Coin (BNB), XRP and Ethereum (ETH).

Crypto Exchange Launches New Lending Program

Coindcx will allow users to earn interest on the virtual currencies users lend to the exchange. There will be monthly interest rates of 2 percent for Bitcoin, 1 percent for Tether, 1 percent for Binance Coin, 0.75 percent for XRP, and 0.75 percent for Ethereum. The information was released by news.bitcoin.com a few days ago.

The CEO of the crypto exchange, Sumit Gupta, said that Bitcoin has the highest interest rate because traders do margin trading using Bitcoin. There are different lending terms for users that want to lend their digital assets: seven, fifteen and thirty days. The rate goes up to 2% depending on the days lent. In this way, Dcxlend will provide leverage to users on Dcxmargin.

As per Gupta, they tested the lending network using Bitcoin and Tether. They had 120 lenders that allowed them to provide 170 BTC on a daily basis. In the future, the intention is to increase the number of coins supported for users to lend them.

The CEO of the exchange has also mentioned that they have an internal settlement and liquidation mechanism for margin trading that does not have a “dedicated funding wallet.”

There are several programs in different exchanges that allow users to lend their digital assets and receive interest on it. In Japan, for example, GMO Coin launched a lending program that allows users to lend different digital currencies, including Bitcoin, Bitcoin Cash (BCH), Ethereum, Litecoin (LTC) and XRP.

Bitbank is another regulated exchange located in Japan that offers up to 5 percent annually for individuals that lend their digital assets.

Today's Bitcoin (BTC) Price Prediction Plus ETH, XRP and BCH Chart Analysis

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,273FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today