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This article will offer five things you should know about the KuCoin crypto lending platform to help users acquire reliable revenue and boost their APR.
- Lending Is an Ideal Match For Both Existing and New Investors
KuCoin Lending is more ideal for consumers who desire low-risk investments and steady returns than other services such as Margin trading and Futures trading. Lending is an excellent option for holders who want to keep their coins while earning extra money.
It’s also straightforward for new crypto investors, who may lend crypto assets to generate passive income with only a few clicks.
- At the Moment, USDT Is The Best Coin For Lending
KuCoin Crypto Lending is a peer-to-peer lending platform where the market chooses the lending interest rate and fluctuates constantly.
When the cryptocurrency market is upward, more consumers will buy long, contributing to an increase in USDT price. At this point, lending USDT is a better way to make money. When the market goes down, a significant number of users need to borrow crypto-like as BTC and ETH to go short; hence lending these coins is more profitable than lending USDT.
KuCoin Margin traders are more likely to go long than short, resulting in USDT having the highest APR for a loan.
- Select a traditional loan for a favourable APR.
Before you begin lending your coins, you must always establish a tradeoff between Fund Utilization Rate and Interest Rate. The Fund Utilization Rate (FUR) is the rate at which you can lend your money. While Interest Rate is a simple concept, APR is a common abbreviation.
KuCoin Lending lets you lend your funds out in your preferred manner. With classic Lend, you can choose the daily interest rate that best suits your needs. Please remember that getting your funds lent promptly may be challenging if the rate is much higher than the current market rate.
- Use Auto-Lend To Get The Most Out Of Your Money
Auto-Lend is a convenient choice if you don’t have time to monitor the lending market constantly. Before using Auto-Lend, you must first set the reserve amount, terms, and minimum daily rate.
The Reserve Amount is the amount you DO NOT want to lend out; therefore, enter 0 if you intend to lend all your assets.
Conclusion
KuCoin Crypto Lending is a peer-to-peer lending platform that allows users to borrow crypto assets to increase their profits and lend assets to generate a steady passive income. Currently, the KuCoin Crypto Lending platform supports over 50 different coins.
