Binance offers a cryptocurrency loan service, allowing users to obtain instant liquidity without the need to sell their digital assets. You can use your cryptocurrencies as collateral to get loans in other currencies, with flexible repayment options and competitive interest rates.
🧾 Types of Loans Available on Binance
1. Flexible Loans:
• Allow you to borrow against your digital assets with the option to repay at any time.
• You can continue to earn returns from the Binance Earn program while using assets as collateral.
• There is no specified loan term, but the loan-to-value (LTV) ratio must be maintained within allowable limits to avoid liquidation.
2. Fixed Rate Loans:
• Features fixed interest rates throughout the loan term, providing stability in costs.
• Suitable for users who prefer to know the cost of the loan in advance without fluctuations.
3. VIP Loans:
• Designed for users with larger sizes or institutions, with customized terms and competitive interest rates.
💰 How to Get a Loan
1. Log in: Log into your Binance account.
2. Access the Loans Section: Go to the Binance Loans section.
3. Choose Currency: Select the currency you wish to borrow and the currency you will use as collateral.
4. Determine the Duration and Amount: Choose the loan duration and the required amount, taking into account the LTV ratio.
5. Confirm the Loan: Review the terms and agree to complete the borrowing process.
