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Cryptoknowmics 2022-05-25 09:48:39

Binance Loans Adds ADA and AVAX as Collaterals

Binance shared a blog post on their Twitter account. They were announcing their plans to add more collateral assets to Binance Loans. They said that Binance Loans would be adding ADA and AVAX tokens. #Binance Loans adds @Cardano $ADA & @avalancheavax $AVAX as Staking Collateral Assets. — Binance (@binance) May 25, 2022 ADA and AVAX: New Binance Loans Collateral Binance Loans now accepts ADA and AVAX as collateral assets. When trying to lower the borrowing cost, they’ll issue loan orders backed by ADA and AVAX. Binance Loans offers a variety of accepted cryptos. Including different accepted collateral assets, interest rates, and loanable limitations. All of which depends on the market situation and internal risk mitigation. Crypto Loans Crypto loans rely on the same principles as traditional loans. One significant difference is in the way people account for the money. Financial institutes use credit ratings. But to determine the risk they might take when making traditional loans. Credit scores aren’t even relevant when it comes to crypto loans. An institution can use a trader’s crypto as collateral to keep until the borrower repays. Additionally, loan terms may be shorter than regular loans. Binance Loans, for example, offers traders a 7-180-day loan term. Cryptos are more unstable than regular currency. That makes crypto loans riskier for lenders and borrowers. If the crypto value falls, the lender’s co...

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