Cryptocurrency exchange Bybit has announced the launch of a new fixed-rate loan service, providing users with greater control and predictability in managing their assets.
Bybit's New Product
Bybit has introduced a P2P lending service with fixed interest rates and terms, underscoring its commitment to offering unparalleled value to its global community. This is the first-of-its-kind product on the platform, enabling users to secure stable conditions in lending.
Features of Fixed Rates
Bybit provides users with several advantages:
- **Predictable Costs**: Borrowers secure a fixed interest rate for the entire loan duration, avoiding rate fluctuations and hidden fees. - **Steady Returns**: Lenders receive a fixed annual percentage rate, ensuring stable income. - **Flexible Collateral**: Users can choose from a wide range of collateral options, maximizing capital utilization. - **Streamlined Process**: Features like Auto-Repay and Auto-Renew simplify and enhance management. - **Secure Management**: Bybit directly manages both collateral and loaned assets, ensuring principal protection for suppliers.
Benefits for Users
Bybit's loan terms offer flexibility and a wide selection of cryptocurrencies, including USDT, USDC, BTC, ETH, XRP, SOL, and MNT, with more to be added in the future. Loan durations range from 7 to 180 days. The minimum order amount for borrowing and lending is set at 1,000 USDT equivalent. In the event of liquidation, a 2% repayment fee applies, ensuring a transparent and secure process for all participants.
The launch of the fixed rate loan service is part of Bybit's continual evolution as a leading innovator in the crypto finance space. The service provides stable conditions for both borrowers and lenders, aiding them in successfully navigating the cryptocurrency landscape.
