ROAD TOWN, British Virgin Islands, December 18, 2020 9:00 AM UTC – Bitfinex, a state-of-the-art digital token trading platform, has launched bitcoin (BTC) and Ethereum (ETH) personal loans on Bitfinex Borrow, a peer-to-peer (P2P) digital token loan portal.
Borrowers can use US Dollars (USD), Tether tokens (USDt), euro (EUR) or yen (JPY) held on the platform as collateral to obtain a loan in BTC. Borrowers can use USD held on the platform as collateral to obtain a loan in ETH.
Borrowers will be able to obtain BTC loans of up to 80% of the value of their USD, USDt or EUR holdings, or up to 70% of the value of their JPY holdings. Borrowers will be able to obtain ETH loans of up to 80% of the value of their USD holdings.
“We’re pleased to launch bitcoin and Ethereum peer-to-peer loans for our growing customer base on Bitfinex Borrow,” said Paolo Ardoino, CTO at Bitfinex. “These latest additions to Bitfinex Borrow further demonstrates our commitment to delivering quality products for our users.”
BTC and ETH loans levy a typical Annual Percentage Rate (APR)* of approximately 4.16% and 1.14%, respectively.
While fully verified users will have full access to Bitfinex Borrow, users verified at the intermediate level will not be able to withdraw the borrowed Digital Tokens from the Site. To begin the verification process today, please visit: Bitfinex.
Nothing in this press release is financial, investment or other advice. Nothing in this press release is an offer to borrow or lend or the solicitation, recommendation or endorsement of any course of borrowing or lending. Any references in this press release to returns are only hypothetical and not guaranteed.
*The rates, payment amounts and collateral price reflected represent an estimate, based on current market conditions, of the interest rates and amounts payable based on the loan amount, collateral and duration selected. These values are hypothetical and not guaranteed to be the same as, or reflective of the actual interest rate, payment obligations or collateral price applicable to a loan a user decides to take. This information is provided for information purposes only.
*All deposits, activities, and users are subject at all times to all of the terms of service in effect on Bitfinex. U.S. persons are not permitted to use Bitfinex or any of its services.
Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit Bitfinex to learn more.
Joe Morgan, Senior PR Manager, Bitfinex