Several thoughts are currently running through your mind but the dominant thought (more like a question) you might be having right now is ‘What is Instant Crypto Loans?’ and I’ll answer that question for you briefly in just a second.
Instant crypto loans are loans that can be obtained easily within a very short period. This means you can obtain a cryptocurrency loan without having to wait for days or weeks like you would have to when you try to obtain a loan from traditional banks.
Why use Instant Crypto Loans?
The speed at which you can get the crypto loan is enough reason to use it in place of traditional banks but we’ll highlight some other reasons so you can better understand its benefits.
- No registration required: Some if not all crypto-lending platforms do not require you to register to have access to crypto loans. It makes sense to exclude registration because that’s the whole point of calling it “Instant”. After all, obtaining the cryptocurrency loan has to be as fast as possible.
- No credit score required: Seeing as there won’t be a need for registration, this rules out the possibility of checks on your credit score so you shouldn’t have to worry about that.
- Low-interest rate: When you obtain an instant crypto loan, you can get an annual interest rate of 14%, some crypto-lending platforms offer as low as 1-5% APR. This should give you a range of the low-interest rates you get to enjoy when you obtain crypto loans.
How to get instant cryptocurrency loan using CoinRabbit Platform
CoinRabbit is a crypto-lending platform that prides itself on making your cryptocurrency work for you. With CoinRabbit, you can leverage your crypto assets to obtain crypto loans to do whatever you want and when you’re ready, you get back your crypto assets without any loss. It’s more like a win-win situation for you.
Obtaining an instant cryptocurrency loan on CoinRabbit is super easy and I’ll guide you on how to go about it.
- First, visit CoinRabbit on your desktop or mobile device.
- Input the amount of crypto-asset you’re willing to pledge as collateral. You’ll notice how your Loan amount, Annual interest rate, and Price down limit would be automatically calculated.
- You can change your collateral asset as well as the loan amount by clicking the drop-down to choose your preferred option.
- Click on “Get Loan” when you’re done choosing your preferred options.
- Input your USDT or USDC address where you’d like to receive your loan, verify your phone number as well by inputting the code sent, and click on “Confirm”.
- Send the collateral amount you entered to the address provided.
- Wait for a few minutes for the loan to be processed (this would normally take less than 15 minutes).
After confirmation has been done, you’ll receive your loan instantly. It’s that easy to obtain an instant crypto loan from CoinRabbit.
In case you encounter any difficulties, you can always reach out via email, Twitter, or using the Chat feature.
Not financial advice. Do your own research and take everything moderately.
Crypto-backed loans have their own risks that should be taken respectively.