Gate.io Blog CRYPTO LENDING ON GATE.IO

CRYPTO LENDING ON GATE.IO

26 May 22:12

Crypto Lending allows users to lend cryptocurrencies for profit-making through interests. You can get a loan from your account on gate.io if you don't own any cryptocurrencies, and start investing. When you return the loan plus interest, you will receive your capital and your collateral is unlocked.

Crypto Lending comes with its risks. For example, if the smart contract got hacked there will be losses, but gate.io eradicates this concern; thanks to the security protocols put in place, across the platform.

Also, if you lend a volatile coin as collateral and its value falls, it gets liquidated. It is necessary to research properly and understand the terms before agreeing to lend or borrow because ignorance regarding when you can access your funds and the interest involved can lead to a loss.

Source: Gate.io

Investing in crypto comes with a lot of uncertainty, and concerns especially when taking futures trades or staking a highly volatile coin. Nonetheless, trading is not the only way to make money from the cryptocurrency market. Crypto Lending is a service enabling you to lend your funds and make a profit off it. Crypto Lending is effortless, straightforward, and cheap. It works by renting out a user's coins to another user for a fee. The exact way of lending varies between different platforms. But this article will dwell on crypto lending on the gate.io platform.

CRYPTO LENDING SIMPLIFIED.

For a loan to succeed there must be a lender, a borrower, and a crypto exchange platform. For that loan to be approved collateral must be provided unless through the use of flash loans which don't require collateral. On the other hand, the lender is required to put their coin in a pool that will man the process and take a cut of the interest. Users can request to lend at a specified interest rate and wait for a borrower to match their order.

HOW TO LEND ON GATE.IO.

source: gate.io

Below will be given the step by step on how to lend crypto on the gate.io platform.

Step 1: Log in to your Gate.io account or create one if you don't have a pre-existing one. Search for "Finance" in the top navigation bar and click on "Crypto Lending".

Step 2: On the ‘crypto lending’ page, you need to select a lending cryptocurrency and fill in the "Amount", and "Rate" as desired, and then click "OK".

Step 3: Once the lending order has been successfully placed, you can view it in the "In Offer" tab under "Lend History". You can also click "Cancel" to revoke the order before it is lent if you notice any errors or have a change of mind.

Step 4: Once the order is matched, you can monitor the payment progress in the "Collecting" tab and decide whether or not to enable "Auto-Renew".

Step 5: The paid orders can be seen in the "Closed" tab.Directions on how to lend your coins on the app are outlined here.

NOTE:

The borrower has the right to initiate advanced pay, which determines the duration of the lending period.

Auto-renew can be enabled/disabled for every order.

GATE.IO

Gate.io is a crypto-based platform for users to transact, borrow, lend, buy or sell cryptocurrencies between themselves. Gate.io offers returns on stable coins and provides a wide margin of coins you can lend and borrow (up to 200 coins) making it the only platform offering such an opportunity. Gate.io has rated highly as one of the top crypto exchanges thanks to their top-of-the-line security protocols all over the platform.

CLOSING THOUGHTS.

Crypto lending is of benefit to both the borrower and the lender. Creating ways to earn a passive income simply by owning cryptocurrencies opens up a new world of possibilities. If you choose to be involved in crypto lending, it is necessary to do so on a trusted platform. Blockchain simplifies the process of obtaining credit making crypto lending a great tool in the hands of anyone interested.

Author: Gate.io Observer: M. Olatunji
Disclaimer:
* This article represents only the views of the observers and does not constitute any investment suggestions.
*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

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CRYPTO LENDING ON GATE.IO

CRYPTO LENDING SIMPLIFIED.

HOW TO LEND ON GATE.IO.

GATE.IO

CLOSING THOUGHTS.

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