Crypto lending is a feature that is similar to regular loan programs that are based on interest. In the crypto lending program, you can invest the cryptos by lending them if you do not have enough resources to buy the cryptos. With this feature, the stakeholders can earn passive income, and the investors can invest significantly larger amounts than their purchasing capacity. KuCoin is the best bitcoin exchange that offers its users with most benefits and features. On KuCoin, you get access to more than 700 coins, and it has a user base worldwide.
KuCoin offers endless features and is constantly evolving to provide its users with the best experience. You can even use KuCoin for crypto lending, and in this article, we shall discuss every aspect of this feature so you can fully understand and take advantage of it. Let’s get started Newmags.
What Is Crypto Lending?
Crypto lending is the feature in which the lender lends their crypto assets to the borrower for a definite time in exchange for some interest. With this feature, both the lender and the borrower can earn a profit because it offers risk-free earning for lenders and offers high opportunities for borrowers who do not have enough cryptos to invest. Currently, KuCoin offers to lend more than 50 coins that include BTC/USDT and much more.
KuCoin has extensive security features that ensure that the amount you are lending comes back to you with interest. You can also lend your cryptos automatically to increase the wallet with each day passing.
How To Lend Cryptos?
It is extremely easy to lend your cryptos to earn a profit. You need to have a verified KuCoin account to lend your investment. These are the steps to lend the cryptos to earn the interest f95web:
- Login to your KuCoin verified account.
- Click on the earn tab from the main dashboard and choose the crypto lending option.
- You will see three columns on the new page. The first has the list of coins; in the second column, you can set your lending amount, lending period, and interest rate. In the third column, there are open orders of cryptos from which you can take the idea.
- There is also the auto lending option that you can check to automatically lend out your assets. In this feature, you must enter the reserved amount you are unwilling to lend. Any amount other than that will be put out for lending.
How To Borrow Cryptos?
Borrowing cryptos is also very easy on KuCoin. These are the steps by which you can borrow the cryptos:
- Login to your KuCoin verified account wolowtube.
- Click on the earn tab from the main dashboard and choose the crypto lending option.
- Below the main tab, you will see three options. Lend, my lendings and borrow. Choose the borrow option.
- In the borrow option, you will see all the open orders. You can filter these orders based on your preferred coin, amount, time, and interest rate europixhdpro.
Conclusion
Lending cryptos has minimum risk, but it is not completely free of them. Once you have lent out your coin, there is no way that you can get them back before the payment period ends. If the coin crashes, such as the LUNC price, then there is nothing you can do about it, so you must make sure that the coin that you are lending has a high potential of going up, and it is good if you are investing for a long time.