Binance Crypto Loan Explain [2023] Using Mobile: Step by Step Guide to Get $650
1- Binance Crypto Loan 2023
2- Binance Crypto Explain 2023
you are welcome to remit trade Academy my name is Paradise and I will bringing you this cryptocurrency video in today's video I'm going to show you how to get binance loan that is binance crypto Loan in the step-by-step process so watch this video to the end if you are new to this Channel please help subscribe to the channel hit that like button and don't forget to turn on the Bell notification for more update like this every single day also check the channel for all that educational content now there are reasons why you need to take binance loan other than taking the traditional bank loan and one of them is that no credit checks buyers will not check how many crypto coins you deposit in your account for the past maybe two months or three months as the case may be but the bank will take your inflow so that if you're not able.
1- Binance Crypto Loan 2023
to you know pay back the loan they can collect the money from your inflow and no social credit checks and lastly no waiting time so if you want to take loan from the bank you need to pass through a lot of processes and these processes take a lot of time now on binance there is no such processes it is instant and have the lowest interest rates ever so I'm going to show you in a step-by-step process on how to take a binance loan right here on the finance platform so all you need to do is to be a binance user so if you don't have a binance account yet please check the description of this very video you see a binance link do your registration get verified and secondly you must have a collateral just like Traditional Bank you cannot just borrow from the bank without a collateral.
you must have a collateral and the collateral serve as security deposits or the lending risks and before you take a loan you must have to consider your risks and what you want to use it to do and I advise that if you want to take a crypto loan let's say for example you have Bitcoin that you're holding for the long term and you have an audience need you can actually take that Bitcoin as a collateral get the loan from binance you should do solve your need as time goes on you can then you know pay back the loan while you are still holding your Bitcoin so let me dive right into the video and how you can get the binance loan immediately go to this very area where you see more if you click on this more it will take it to this very page scroll down to finance so when you have Finance here so under Finance you see crypto loan click on crypto loan and then you click on stats borrowing so on start borrowing here before you take a loan on binance you must have to consider three things number one what you want to borrow for example if I click on busd.
2- Binance Crypto Explain 2023
on I want to borrow a click on busy right here you see buyers have a lot of crypto assets that you can choose from if you want to borrow on binance okay and then the next thing is collateral what do you want to use as your collateral if I click on BNB at this very area I want to use usdt as my collateral right at this very area and then you must have to consider your loan term so your loan term is very important you choose your loan term and know that the longer your loan term in accumulation the bigger your interest so in this example I'll be using Alice as what I want to borrow and usdt will be my collateral so if I use 949 usdt as my collateral this is the amount of Alice that I will be given for this very loan and this amount of Alice uh what about 639 busd or usdte and the loan thing right here is seven days I can actually increase the loan term but before.
I increase that if you check the interest rate so the hourly interest you see 0.00057 percent and the total number of allies that I will pay back as interest is 0.3 this is not up to one dollars in naira this is not up to 800 naira for seven days so if I increase the loan time to let's say for example I want a very long long time let's say 180 days that is six months the interest rate is calculated hourly and then the total amount I will pay for 80 days is 8.45 Alice this is about 35 busd or thereabouts and this is very very small compared to this amount of Addies that has been given to me as my borrowed which is about 639 busd and this in naira is about 470 000 on naira and my collateral remember is 984 which is very very important so you must have to consider your rigs while taking binance loan the most important thing is that is of low interest it have the lowest interest when compared to taking traditional Bangalore does it mean that before I can pay back the loan.
I must wait for this 180 days no if you have the money maybe after 20 days or or 30 days you can pay back and buyers will collect for that 30 days or 20 days as a case may be it must not be that you must wait for 180 days before you can actually pay back and then the last thing I want to talk about here is the risk level if you check the risk level they say if LTV this LTV means loan to value reaches 83 percent or the value of USD to at least price reaches 0.419 your collateral will be sold off to repay back the loan this possibility exist but is very very very very little Alice can drop but drop into 0.419 is possible but it's very very small so you have to consider what you are using to take the loan I advise that when you are taking it you can use busd as what you want to borrow and then you use usdt as a collateral doing that there is no.
how usdt and busd will collapse the possibility exists but it's also very very very little so this is how you can borrow crypto on binance so all I need to do here is to agree to the terms and condition on binance and I click confirm once I click confirm here you see loan successful on this very area and then I can go check my order if I check my order right here you see I can adjust my LTV I can repay back immediately even though I have chosen 108 80 Days let's see what I want to use it for I have already met the demand I can also go here and repay back the loan and close the deal okay it is not a must that you must hold it for 180 days so this is how you can borrow crypto on binance with your collateral in this case I can decide to pay back.
right now and then close the deal so all I need to do is to come here and then I click on 100 and then this will activate I will just go ahead and then I'll click confirm so once I confirm successful I will come back to this very area of collateral and then I will keep this and then I will confirm this repay back loan so once I do this everything has been settled I have paid back the loan and I have also used the money for what I want to use the money for those so this is how you can borrow crypto on binance with your collateral and your collateral must have to be in crypto so if you enjoyed this video please don't forget to subscribe to the channel hit that like button and don't forget to turn on the Bell notification for more update like this every single day if you want to learn how to trade crypto with Technical and fundamental analysis check the description of this video you see a contact reach out to me immediately and learn how to trade with simple trading strategy.
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