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Loan

OKB loans.
Borrow against OKB.

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What is OKB?

OKB is the native exchange token of OKX that provides discounts on trading fees, access to the OK Jumpstart initial exchange offering (IEO) platform, and voting rights for tokens to be listed on the exchange. In the future, it will be used to pay transaction fees on the OKChain blockchain as well as decentralized exchange OKDEX.

How do loans backed by OKB works

Crypto loans provide an easy option for both borrowers and lenders. Borrowers can secure loans in USDT by putting up their cryptocurrencies as collateral, while retaining ownership of their digital assets. This process skips the hassles of credit checks and lengthy paperwork, making it quicker and more affordable.

Lenders can place their cryptocurrencies, such as OKB (OKB), into a specialized account on the Beast platform. A custodian manages the relationship between borrowers and lenders, ensuring a safe environment. They serve as a reliable intermediary, safeguarding the interests of both parties.

By utilizing this system, borrowers gain access to funds without the need to sell their cryptocurrencies, which is particularly advantageous during market shifts, allowing them to sidestep potential losses. The lending model also streamlines the loan process, further eliminating the requirement for credit evaluations.

Lenders benefit by earning interest from the funds they provide via loan repayments, allowing them to profit from their cryptocurrency holdings. It's a mutually beneficial setup where borrowers secure loans and lenders reap rewards.

The Beast platform facilitates the connection between borrowers and lenders, while blockchain technology guarantees secure dealings without the need for intermediaries. This setup lowers the chance of fraud and fosters a protected lending atmosphere.

OKB Loan Calculator

Crunch the Numbers and Discover Your Loan Potential

Loan amount

USDT

Collateral Required

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 OKB? Borrow usd against OKB on Beast

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

To authorize an OKB 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 OKB Crypto Loans

OKB lending

OKB lending is becoming a favored option for crypto owners seeking quick cash. By using OKB loans, users can obtain funds by leveraging their OKB assets, which gives them immediate liquidity without having to sell their cryptocurrencies. These loans are supported by the worth of the borrower's OKB, creating a safe lending atmosphere. Clients can now easily secure an OKB loan and utilize the money for various needs, such as investing, settling bills, or even launching a new venture. This groundbreaking approach to OKB lending presents fresh chances for individuals to maximize their OKB holdings and tap into essential capital.

OKB as a collateral

OKB has emerged as a favored option for crypto-backed borrowing. Through various OKB lending platforms, users have the opportunity to either borrow OKB or lend their holdings to earn interest. This type of loan enables individuals to leverage their OKB assets, granting them instant access to cash without the need to sell. Furthermore, borrowers can secure funds in USD using their OKB, enhancing their financial flexibility. So, how do OKB loans function? Simply put, users pledge their OKB as collateral, and depending on its market value, they can obtain a loan. These swift crypto loans offer a practical solution for those needing rapid funds while keeping their investment in OKB intact.

Interest rates for loans secured by OKB.

At Beast, we know that having competitive interest rates matters. That’s why we provide loans secured by cryptocurrency at an appealing rate of just 9%. Whether for personal expenses or business investments, our low-interest loans are an economical way to access cash without having to sell your prized cryptocurrencies.

A distinct aspect of Beast’s crypto loans is the collateralization process. In the event of a borrower's default, the OKB collateral stays with Beast, while the borrower retains the Tether USDT they are issued. This guarantees a fair loan recovery method that supports both parties involved.

To address the risk of falling OKB prices, Beast employs an automatic liquidation system. If the collateral's value dips below a certain level, the loan will be liquidated. This proactive strategy safeguards both the lender and borrower from potential losses during market fluctuations.

At Beast, we prioritize clarity and user convenience. Our clients can effortlessly track the status of their loan products using our intuitive interface. Plus, borrowers can increase their collateral, repay early, or close out the loan by paying back the principal plus accrued interest.

If you're seeking to obtain a loan with cryptocurrency, Beast offers quick coin loans. You can borrow against OKB and receive Tether USDT in return. Our crypto-backed loans are a swift and simple solution for your financial needs.

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Why choose OKB 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 OKB Crypto Loan?

Beast OKB 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 OKB 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 OKB 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 OKB 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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