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Cronos loans.
Borrow against CRO.

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How do loans backed by CRO works

Crypto loans provide an easy answer for both borrowers and lenders. Borrowers can secure loans in USDT by leveraging their cryptocurrencies as collateral, allowing them to retain ownership of their digital assets. This removes the hassle of credit screening and extensive documentation, streamlining the process to make it quicker and more cost-effective.

Lenders can place their cryptocurrencies, such as Cronos (CRO), into a special account on the Beast platform. A custodian manages the interaction between borrowers and lenders, ensuring a secure experience. They serve as a reliable intermediary, protecting the interests of both parties involved.

Borrowers gain the advantage of accessing funds without needing to liquidate their cryptocurrencies. This is particularly beneficial during market swings, enabling them to dodge possible losses. The lending framework simplifies the borrowing process further, eliminating the requirement for credit assessments.

Lenders earn interest on their funds through repayments on loans. This allows them to see a return from their cryptocurrency holdings. It creates a win-win scenario where borrowers secure loans and lenders profit from their participation in the system.

The Beast platform regulates interactions, while blockchain technology guarantees secure transactions without third-party involvement, minimizing fraud risk and fostering a safe lending atmosphere.

Cronos Loan Calculator

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Loan amount

USDT

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Interest rate

15% per year

Monthly Interest Amount

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Crypto Loans explained

In our video, we take you on an exciting and informative journey into the realm of crypto lending and borrowing on the Beast platform. Discover how this revolutionary system works, learn how to take out a loan, and explore the seamless process of loan repayment. Packed with valuable insights and tips, this video is your ultimate guide to harnessing the potential of crypto credit.

How to get a loan on Cronos? Borrow usd against Cronos on Beast

The process of getting an Cronos cryptocurrency loan is quite simple. First, you need to create your account on Beast, a platform that offers Cronos cryptocurrency lending services. Then, you need to provide your CRO as collateral and specify the loan amount you want to borrow. The platform then evaluates your collateral and gives you access to the required amount of Tether USDT.

Your creditworthiness is determined based on the value of your collateral, making the process of getting a cryptocurrency loan fast and convenient.

However, it is important to remember that Cronos cryptocurrency loans are not without risks. In case you default on the loan, your collateral can be seized. Therefore, you should carefully assess your repayment capacity before taking out a cryptocurrency loan.

How to get a loan on Cronos? Borrow usd against Cronos on Beast

To authorize an Cronos Crypto Loan, you will need to go to Features tab → Loan section → Borrow button

Choose the required loan amount the terms and conditions of the crypto loan, and apply for it by confirming it with a code from 2FA - application or E-mail or Telegram-bot.

Learn more about CRO Crypto Loans

Cronos lending

Cronos lending has gained significant traction among cryptocurrency investors seeking financial support. With Cronos loans, users can borrow funds using their Cronos assets as collateral, giving them quick access to cash without selling their holdings. These CRO loans are secured by the worth of the borrower's Cronos, creating a safe lending atmosphere. Now, obtaining a CRO loan is straightforward, allowing users to utilize the money for various needs, such as investing, settling bills, or even launching a venture. This groundbreaking method of CRO lending has unlocked fresh possibilities for individuals to maximize their Cronos assets and access essential funds.

CRO as a collateral

Cronos, also known as CRO, has emerged as a favored option for loans backed by cryptocurrency. On Cronos lending platforms, users can both borrow Cronos or lend theirs to generate interest. These loans enable individuals to use their Cronos assets as collateral, granting immediate access to cash without needing to sell anything. Borrowers can even obtain loans in USD using their CRO, which adds to their financial flexibility. So, how do Cronos loans function? Users simply lock their CRO as security, and depending on its value, they can secure a loan. These crypto payday loans offer a practical choice for those in need of quick funding while keeping their Cronos investments intact.

Interest rates for loans secured by Cronos.

At Beast, we recognize how vital it is to have competitive interest rates. That’s why we provide cryptocurrency loans at an appealing rate of just 9%. Whether you require funds for personal use or business endeavors, our low-interest loans present an affordable way to access cash without needing to sell your treasured cryptocurrencies.

A standout aspect of Beast's crypto loans is the collateralization method. If a borrower fails to repay the loan, the collateral CRO remains with Beast, while the borrower retains the Tether USDT received. This structure promotes a fair and equitable loan recovery system, helping both parties involved.

To safeguard against the risk of Cronos losing value, Beast implements an automatic liquidation system. If the collateral's worth dips below a designated level, the loan is automatically liquidated. This proactive approach shields both lenders and borrowers from potential losses during market declines.

Beast prioritizes transparency and user-friendliness. Our users can effortlessly track the status of their loan products through our intuitive interface. Furthermore, borrowers are free to add additional collateral, pay off the loan early, or close it by settling the borrowed amount along with accrued interest.

If you're curious about obtaining a loan with cryptocurrency, Beast facilitates instant coin loans. You can secure funds against Cronos and receive Tether USDT. Our crypto-backed loans offer a swift and easy solution for all your financial needs.

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Why choose Cronos Beast Loan

Take advantage of limitless possibilities: Get any amount at any time with our unbeatable cryptocurrency line of credit.

Easy access to funds

By leveraging your crypto assets as collateral, you can quickly obtain loans without the need for extensive credit checks or income verification, making the process more efficient and accessible.

35+ Currencies

Choose your collateral from over 35 cryptocurrencies and borrow instantly from USDT.

No inspections!

Cryptocurrency loans allow you to access credit without checking your credit history.

Interest - hourly

We charge interest on the loan hourly. However, during the first hour after taking out the loan, you have the opportunity to repay it without any additional fees. This sets us apart from our competitors.

Lower interest rates

Because cryptocurrency loans are collateralized, lenders often offer lower interest rates than traditional unsecured loans, making them more cost-effective for borrowers.

Flash approval

Receive funds in the same minute without spending more than 3 taps

Maintain ownership of your crypto

With crypto-backed loans, you retain ownership of your digital assets while using them as collateral. This allows you to benefit from potential market growth and regain full control of your assets once the loan is repaid.

FAQ

What is Beast Cronos Crypto Loan?

Beast Cronos Crypto Loan is a secure, overcollateralized, and flexible loan product. Users can take loans by pledging their crypto assets as collateral. With Beast, you don't have to worry about rehypothecation since we don't lend out your collateralized crypto to others.

How do I pledge my assets and start borrowing with Beast Cronos Crypto Loan?

To start, choose the crypto you'd like to pledge as collateral and the amount you'd like to borrow. Ensure you have sufficient crypto assets in your account to cover the required collateral. Once the process is complete, your collateral will be locked, and the loan will be transferred to your account.

What is LTV, and how much can I borrow from Beast Cronos Crypto Loan?

LTV (Loan-to-Value) represents the ratio between the value of the loan plus accrued interest and the value of your collateral. The LTV percentage determines how much you can borrow based on the collateral you pledge. For example, with a 50% LTV, if you pledge 1,000 USDT, you may borrow up to 500 USDT worth of assets.

Are there limits to how much I can pledge and borrow?

Yes, there are limits for each cryptocurrency. The maximum amount you can pledge or borrow depends on the specific crypto and may change periodically.

What is loan liquidation, and what is the liquidation LTV?

Loan liquidation occurs when the current LTV exceeds the liquidation LTV, which may happen if the collateral's value decreases or the loan's value increases. If liquidation occurs, you may lose some or all of your collateral.

What happens when a loan is liquidated?

When liquidation occurs, the outstanding loan amount will be repaid using the equivalent value of collateral. A partial liquidation happens when the liquidation doesn't fully cover the outstanding loan, and a full liquidation occurs when the entire loan is repaid using the collateral.

What is a margin call?

A margin call is a warning issued when your collateral-loan pair position reaches its margin call LTV. You can take action by adding more collateral or reducing the outstanding loan to lower the LTV.

Will I be notified in the event of margin calls or liquidations?

Yes, Beast will send notifications via email and SMS in case of margin calls or liquidations. However, timely delivery of these notifications cannot be guaranteed.

What interest rate applies to my loan?

Beast provides transparent interest rates for each cryptocurrency. Please refer to the platform for up-to-date interest rates.

How is interest accrued for my loan positions?

Interest accrues based on the total outstanding loan amount and the prevailing APR. The interest accrued is added to the total outstanding loan.

How do I repay my loan or adjust my LTV?

Use the 'Repay' or 'Adjust LTV' options in your account to repay loans or adjust collateral, respectively. You can only repay your loan using the same cryptocurrency you borrowed.

Which cryptocurrencies can I pledge or borrow on Beast Crypto Loan?

Beast Crypto Loan accepts a variety of cryptocurrencies as loanable and collateral assets. The list of available cryptocurrencies is updated periodically, so please refer to the platform for more information.

What can I do with the cryptocurrencies borrowed from Beast Cronos Crypto Loan?

You can use the borrowed cryptocurrencies for various purposes, including trading, investing, or withdrawing from the platform. The collateral you pledge remains with Beast as security for the repayment of your loan.

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