58COIN first pushes mortgage loan Digital asset financial service ecosystem adds weapon

Since 2017, the blockchain has swept the world. As the first application of blockchain technology, digital currency has also been sought after by many investors. According to statistics, the number of speculative coins in the world is over 20 million. In practice, many investors may encounter a situation in which the account has been heavily stocked with a very promising potential currency, but the price of the coin has not yet reached psychological expectations, and at the same time there is a new value coin. Appeared, the investor is in a hurry… What should be good at this time? Determined to cut the meat, but also afraid of missing the heavy currency after the meat cut? Do not cut the flesh, can you only watch the new value coins continue to rise and double? In view of this, 58COIN launched a mortgage service on July 16th, providing a brand new way for investors who are in dire straits.

Mortgage is a digital currency-based lending method that requires the borrower to provide a certain amount of digital currency as a collateral for borrowing to guarantee the repayment of the borrowed digital currency and interest. If the borrower triggers a strong flat line, the platform will have the right to deduct all digital currencies pledged by the loan.

Mortgage loans: long-term, short-term investment is not delayed

For example: If you have already re-stocked 58B, although the price fluctuations are relatively stable now, in the long run, 58B is still very valuable, so you plan to hold it for a long time. But at this time, you are optimistic about UCC, thinking that it will go out of a wave of rising prices in the short term, and can carry out short-term operations. At this time, you can exchange the 58B in your hand for UCC, and then use UCC for short-term operation. When the specified loan period expires, you only need to pay a certain interest, you can redeem the previously mortgaged 58B. In this way, long-term investment and short-term investment are not delayed.

At present, the mortgage currency supported by the 58COIN platform and the corresponding loan currency are as follows:

Loan currency
BTC 58B
ETH 58B
UCC BTC, ETH, 58B, EOS, LTC, BCH

In the future, more and more currencies will be introduced for mortgage loans.

Four major domineering strikes

Mortgage loans not only provide a variety of options for many investors, but also greatly promote the liquidity of digital assets. At the same time, it also has the advantages of flexible deadline, reasonable pledge rate, low interest rate, and elimination of man-made manipulation. It can be said that the 58COIN platform is another weapon to build a digital asset financial service ecosystem.

Flexible term: The loan term of the mortgage business is divided into fixed term and perpetual term. The fixed term is 7 days, 30 days and 60 days. The loan interest rate varies slightly according to the loan currency. The minimum interest rate is 10,000. 3, is the lowest level in the industry; there is no fixed term for the perpetual period, investors can pay with the loan, the interest is generally calculated in days. Investors can choose different mortgage terms and loan currencies according to their needs.

Loan currency loan days
BTC 7 days, 30 days, 60 days, sustainable
ETH 7 days, 30 days, 60 days, perpetual
UCC 7 days, 30 days, 60 days, perpetual

The pledge rate is reasonably floating: the pledge rate refers to the ratio of the loan principal to the pledge of the digital currency market value. The pledge rate is reasonably formulated and floated according to the price fluctuation range and trend of the digital currency. Therefore, the pledge rate corresponding to different loan currencies may be different. For example, if the borrower wants to borrow 70,000 UCC and the pledge rate is 70%, it is necessary to pledge the digital currency with a market value of 100,000 UCC.

Low interest rates: The borrower’s interest rate is relatively low due to sufficient collateral, and this low interest rate reduces the borrower’s cost. It should be emphasized that during the mortgage period, the property rights of the mortgaged digital assets are still owned by the borrower. The mortgage is only to give the platform the power to process its assets without being able to repay the loans on time, so as to ensure the recovery of the loans. When the loan expires, the borrower only needs to pay a certain interest, which is not affected by the price change of the local currency.

Put an end to manipulative manipulation: the mortgage price of the 58COIN platform is the index price, yes, the index price in the perpetual contract transaction, the arithmetic of the latest price of the five exchanges such as coin, fire, Bitfinex, GDAX, and Bitstamp. average value. The mark price can stabilize the price of the digital currency trading pair involved in the replacement and will not be affected by the large price change of one exchange.

Unpredictable change in currency price

Of course, the rise and fall of digital currency is not like the price limit of other financial products such as stocks. The price of the currency is unpredictable. Therefore, investors need to be reminded to pay attention to the change of the currency price. When the value of the mortgage asset rises, the platform supports the user to transfer the part. Mortgage assets, but will limit the amount of money transferred out of the mortgage assets, to prevent the occurrence of a burst after the transfer.

When the pledge rate reaches 80% of the early warning pledge rate (each loan currency may be different), the loan is regarded as a loan when the value of the pledge during the loan period is lower than or equal to the amount of the warning line due to large fluctuations in the price of the digital currency or any other reason. The person triggers the warning line. The platform will inform the borrower by SMS to make up the pledge or repay the loan in advance. Therefore, the borrower should pay attention to the 58COIN warning text message at any time, make a pledge to cover the position or repay the loan in advance.

When the pledge rate reaches the strong pledge rate set by the platform, the platform will deduct the loan from the loan to repay the borrower’s unpaid loan amount, interest and handling fee. Strong assets do not involve any assets other than the quality deposit.

As the saying goes, “fish and bear’s paw can’t have both,” but the 58COIN mortgage product can have both. Coupled with the investor-approved perpetual contract, the financing of the multi-currency earning multiple income, the free OTC and currency transactions, and the endorsement of strong financial strength, etc. The launch of the product meets the diversified investment needs of digital asset investors, making the 58COIN digital asset financial service ecosystem more complete and will certainly achieve better results in the future.

Want to know more, welcome to join the official exchange group~

58COIN is the world’s leading digital trading platform. E-mail: 58coinservices@gmail.com; Telegram: https://t.me/official58