Loan

Polkadot

Loan

Polkadot loans.
Borrow against DOT.

Empower Your Crypto Journey with Beast's Flexible Financing Solutions

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What is Polkadot?

Polkadot is a blockchain network designed to support various interconnected, application-specific sub-chains called parachains (short for parallelized chains). Each chain built within Polkadot uses Parity Technologies' Substrate modular framework, which allows developers to select specific components that suit their application-specific chain best. Polkadot refers to the entire ecosystem of parachains that plug into a single base platform known as the Relay Chain. This base platform, which also leverages Substrate, does not support application functionality but instead provides security to the network's parachains and contains Polkadot's consensus, finality, and voting logic.

How do loans backed by DOT works

Crypto loans present an easy option for both borrowers and lenders. Borrowers can acquire loans in USDT by using their cryptocurrencies as collateral, all while retaining ownership of their digital assets. This approach removes the necessity for credit checks and extensive paperwork, resulting in a quicker and more cost-effective process.

Lenders have the opportunity to place their cryptocurrencies, such as Polkadot (DOT), into a special account on the Beast platform. A custodian manages the relationships between borrowers and lenders, ensuring a safe experience. They serve as a reliable intermediary, safeguarding the interests of both sides.

Borrowers gain significant advantages by accessing funds without needing to liquidate their cryptocurrencies. This is particularly advantageous during market volatility, as it helps them avoid possible losses. The lending framework simplifies the borrowing experience and negates the need for credit assessments.

Lenders, in return, earn interest on their lent funds when borrowers repay their loans. This way, they can see returns on their cryptocurrency investments. It's a mutually beneficial scenario where borrowers secure loans, and lenders gain rewards from their involvement.

The Beast platform governs interactions between borrowers and lenders, and innovative blockchain technology guarantees secure transactions without the need for middlemen. This minimizes fraudulent activity and fosters a trustworthy lending atmosphere.

Polkadot Loan Calculator

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Loan amount

USDT

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Interest rate

15% per year

Monthly Interest Amount

Quarterly Interest Amount

Yearly 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 Polkadot? Borrow usd against Polkadot on Beast

The process of getting an Polkadot cryptocurrency loan is quite simple. First, you need to create your account on Beast, a platform that offers Polkadot cryptocurrency lending services. Then, you need to provide your DOT 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 Polkadot 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 Polkadot? Borrow usd against Polkadot on Beast

To authorize an Polkadot 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 DOT Crypto Loans

Polkadot lending

Polkadot lending has rapidly gained traction among cryptocurrency holders seeking quick access to funds. With Polkadot loans, individuals can leverage their Polkadot assets, receiving immediate liquidity without needing to liquidate their investments. These DOT loans are secured by the worth of the borrower’s Polkadot, creating a reliable lending framework. Borrowers can conveniently acquire a DOT loan and utilize the funds for various reasons, such as investing, settling bills, or even launching a business. This groundbreaking approach to DOT lending has created fresh opportunities for individuals to maximize their Polkadot assets and obtain essential capital.

DOT as a collateral

Polkadot, often referred to as DOT, has gained significant traction as a preferred option for crypto-backed loans. Users can utilize Polkadot lending platforms to either borrow DOT or lend their tokens for interest earnings. This system allows people to secure funds based on their Polkadot assets, giving them immediate cash flow without needing to liquidate their holdings. Furthermore, borrowers can also access loans in USD against their DOT, enhancing both flexibility and liquidity. But how exactly do Polkadot loans function? Basically, individuals pledge their DOT as collateral; depending on its worth, they can obtain a loan. These rapid payday crypto loans offer an ideal choice for those wanting quick cash while preserving their Polkadot investments.

Interest rates for loans secured by Polkadot.

At Beast, we recognize how vital it is to have competitive interest rates. That’s why we provide loans backed by cryptocurrency at a notably appealing rate of 9%. Whether you require funds for personal use or business purposes, our low-interest loans offer an economical way to access liquidity without having to liquidate your valuable cryptocurrencies.

A distinctive aspect of Beast's crypto loans is the collateralization process. If a borrower fails to repay the loan, the collateral DOT remains with Beast, allowing the borrower to retain the Tether USDT allocated to them. This creates a just and reasonable method for recovering loans, benefitting both the lender and the borrower.

To counter the risk of Polkadot depreciation, Beast has established an automatic liquidation system. Should the value of the collateral drop below a specific level, the loan will be liquidated. This proactive approach safeguards both the lender and the borrower from possible losses during market declines.

At Beast, we prioritize transparency and ease of use. Our customers can effortlessly track the status of their loan products through our intuitive interface. Moreover, borrowers enjoy the freedom to increase their collateral, pay off their loans early or settle the loan by covering the borrowed sum plus accrued interest.

If you’re curious about obtaining a loan with cryptocurrency, Beast provides instant coin loans. You can borrow against Polkadot and receive Tether USDT. Our crypto-secured loans offer a swift and convenient solution for your financial requirements.

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Why choose Polkadot 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 Polkadot Crypto Loan?

Beast Polkadot 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 Polkadot 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 Polkadot 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 Polkadot 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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