This service is provided via Bitfinex Borrow (a P2P platform), which allows users to borrow money from others using their crypto-money or fiat money as collateral. Borrowers can deposit US dollars, Euros, Yen or even Tether as collateral.
Here are the cryptocurrencies that are currently available on the loan platform :
- Bitcoin
- Ether
- Tether
- Litecoin
- Polkadot
- XRP
- EOS
For ETH loans, only U.S. dollars are currently accepted as collateral. Borrowers will be able to obtain ETH loans for up to 80% of the value of their US dollar, Euro or USDT assets.
Bitfinex charges an annual interest rate of approximately 3.75% for BTC loans and approximately 1.22% for ETH loans.
Bitfinex makes it as simple as possible but The Bitfinex loan is only available to authenticated users.
You can choose between variable or fixed rate loans. The interest charged on variable rate loans will change throughout the term of the loan.
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