Binance Expands Loanable Assets for Flexible Rate and VIP Loans
Felix Pinkston May 29, 2024 10:35
Binance adds new loanable assets to its Flexible Rate and VIP Loan services.
Binance Introduces New Loanable Assets
Leading cryptocurrency exchange Binance has announced the addition of new loanable assets to its Binance Loans (Flexible Rate) and VIP Loan services, according to Binance.com. This expansion aims to provide users with more options and flexibility in managing their digital assets.
Details about Binance Loans (Flexible Rate)
Binance Loans (Flexible Rate) is a dynamic loan product allowing users to borrow cryptocurrencies by collateralizing assets in their Simple Earn Flexible Products subscriptions. This service offers the advantage of not requiring a fixed loan term, providing users with greater flexibility. Loan rates are updated every minute, and users can start with a minimum loan amount of 1 USDT equivalent. Additionally, users can earn Real-Time APR rewards through Simple Earn Flexible Products while managing their loans.
Insights into Binance VIP Loan
Binance VIP Loan is designed for large personal and institutional borrowers, offering competitive rates, terms, and services. This over-collateralized loan service is aimed at providing greater liquidity for long-term investment funds, leveraged trading, and hedging strategies. Users interested in this service can contact the Binance VIP Key Account Coverage team for more details.
Important Considerations
- Users are advised to refer to the latest interest rates and a complete list of loanable and collateral assets on the Loan Data and VIP Loan pages.
- To place new Binance Loans (Flexible Rate) orders via the Binance App, users must upgrade to at least iOS v2.78.0 or Android v2.78.0. Older versions do not support the placement of new orders.
- For the most accurate information, users should refer to the original English version of the announcement, as there may be discrepancies in translated versions.
Conclusion
This update from Binance highlights its commitment to enhancing user experience by expanding the range of loanable assets and offering more flexible loan options. Users are encouraged to stay informed and leverage these new services to better manage their cryptocurrency investments.
Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of investments may fluctuate, and past performance is not indicative of future results. Users should consult an independent financial adviser and carefully consider their investment objectives before making any decisions.
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