Cryptocurrency Q&A
How to borrow Bitcoin on Binance?
How to borrow Bitcoin on Binance?
DigitalDynasty
Mon Dec 23 2024
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6 answers
1302
I want to understand how I can borrow Bitcoin on Binance. I'm looking for a step-by-step guide that explains the process of borrowing this cryptocurrency through the Binance platform.
6 answers
GangnamGlitzGlamour
Wed Dec 25 2024
The video titled "Binance Loans Tutorial (How to Take a Crypto Loan on Binance)" by MoneyZG on YouTube was uploaded on September 12, 2024. The tutorial provides insights into the process of obtaining a crypto loan on the Binance platform.
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charlotte_anderson_explorer
Tue Dec 24 2024
In the video, it is explained that when taking a crypto loan on Binance, there is a specific liquidation loan to value ratio that one needs to be aware of. This ratio determines the percentage of the collateral's value that can be borrowed.
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Nicola
Tue Dec 24 2024
In addition to its trading services, BTCC also provides a platform for users to take out crypto loans. Similar to Binance, BTCC also has a liquidation loan to value ratio that borrowers need to be aware of when taking out a loan.
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alexander_smith_musician
Tue Dec 24 2024
According to the video, the liquidation loan to value is set at 91%. This means that the borrower can only borrow up to 78% of the collateral's value. The remaining 22% serves as a buffer to protect against potential losses.
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MatthewThomas
Tue Dec 24 2024
The buffer of 22% is crucial as it acts as a safety net. In the event that the value of the collateral drops, the buffer ensures that there is still enough value left to cover the loan amount. This helps to prevent liquidation and the loss of the collateral.
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