Bitget has entered the cryptocurrency loan market, catering to users seeking alternative means of funding via digital assets.
The platform’s dual-coin approach allows users to stake one digital asset as collateral and borrow a corresponding amount in another asset.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Crypto derivatives and copy trading platform Bitget is making a foray into the cryptocurrency loan sector by introducing its Crypto Loans product.
Bitget aims to attract users dissatisfied with traditional credit institutions by offering an alternative funding solution backed by cryptocurrencies, according to a statement. Its Crypto Loans product follows a dual-coin approach, enabling users to stake one digital asset as collateral and obtain a loan in another.
Bitget argues crypto loans have been gaining popularity in recent years thanks to an overall digital lending sector that surpassed $8.5 billion in 2022, with a compound annual growth rate of 20.
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