We’ve been hard at work for the last few months and now our plans have come to fruition. Starting September 30, Bitrue Loans will be open to all. Users will be able to pledge BTC, XRP, stablecoins and more to receive loans in BTC, XRP, ETH and USDT. Over time support for more altcoins will be added as collateral and loan options to maximize availability of the service among the entire crypto industry. Loans will be provided at low interest rates and with high loan-to-value ratios.
This service is one of the first that Bitrue has in mind for achieving the goal of bridging the emerging crypto markets with the traditional financial services sector. We find this particularly exciting as it’s an opportunity to provide access to financial services to all people, regardless of whether they’re rich or poor or where they’re located in the world.
Revenue generated from the loans will be used to support the existing Power Piggy function, the wildly popular feature which provides users with a risk free method of generating up to 10.3% yearly interest on the coins they invest. Bitrue Loans will be offered at a daily basic interest rate of 0.04%, with no limit to the repayment period of the collateral, and with industry-leading LTVs of between 50–70%. As the platform continues to develop and enter phase 2 of its lifecycle, users will be able to enjoy reduced repayment rates if they possess sufficient amounts of the platform token Bitrue Coin (BTR), and also access a variety of digital asset management and DeFi services coming soon.
Everyone is welcome to give it a try over at the main Bitrue Loans page once it launches, and if you have any feedback be sure to let us know at support@bitrue.com!
