The Indian Crypto-Exchange has launched a program that allows its users to earn interest on their cryptocurrencies on the exchange. Initially, users can provide BTC, USDT, BNB, XRP and ETH loans.
On Thursday, CoinDCX announced that its crypto-lending program called Dcxlend was out of beta testing and is now fully operational. Five cryptocurrencies are supported: BTC, USDT, ETH, XRP and BNB.
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Currently, the exchange site has monthly interest rates of 2 percent for BTC, 1 percent for USDT, 1 percent for BNB, 0.75 percent for XRP and 0.75 percent for ETH.
CEO Sumit Gupta said: "BTC has the highest interest rate, because our traders mainly trade marginal markets on BTC (hence the high demand for BTC lenders)".
CoinDCX exchange launches lending program for 5 cryptocurrencies. The exchange clarified that there are "three lending periods: 7 days, 15 days and 30 days. The interest rate changes dynamically and reaches a maximum of 2%, depending on the market dynamics."
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In addition, the website states that "cryptocurrencies provided through Dcxlend will be used to provide leverage to users of Dcxmargin".
The exchange also has an internal settlement and liquidation mechanism for margin tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details, which does not have a "special financing wallet".
Funds are provided to users only when a margin transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details is opened, without access to withdrawals and rigid liquidation with a support margin of 7.5%.
Editor: Godfrid Brower