Last Updated on August 30, 2023 by Diana Kelley
DINO cryptocurrency is a community-driven and 100% fairly launched defi-based meme token that believes in fair distribution, decentralization, and real-life utility. With its unique features such as real-world acceptability, complete decentralization, native swapping protocol, and staking rewards, DINO is a promising project for crypto investors. In this article, learn about the benefits of taking out a DINO loan, using DINO as collateral, managing risks, and avoiding liquidation. Read on to discover how to get a DINO loan in just four simple steps with CoinRabbit.
What is DINO cryptocurrency?
DINO is a Meme Coin with very strong utility. Since the biggest issue with Meme coins is the lack of utility and use case, DINO is here to fix these issues.
DINO is a community-driven and 100% fairly launched defi-based meme token that believes in fair distribution, decentralization, and the real-life utility.
What Makes DINO Unique?
Real-world acceptability across leading platforms such as Walmart, eBay, and Amazon.com via Shopping.io, NowPayments.io, and Volt Inu.
Complete Decentralization as 95% percent of the supply is fair launched whereas 5% tokens are reserved for marketing.
The platform features a native swapping protocol, i.e., “DINOverter which allows users to convert ETH to DINO with no slippage and minimal gas. It provides liquidity and gives 5% back on every purchase made through the DINOverter, incentivizing user participation.
Users can stake their DINO and receive periodic rewards.
What are the benefits of taking out a DINO loan?
With crypto loans, you can access funds without selling, increase liquidity, maximize capital utilization, and diversify your portfolio more effectively. In addition, crypto loans tend to have lower interest rates than traditional loans, so borrowers are able to get funds for much less. Finally, these loans provide additional peace of mind since crypto collateral is stored securely in a cold storage wallet.
Here are some cases where you can use DINO as a collateral and get profit:
- Profit from volatility – CoinRabbit loans remain fixed no matter the exchange rate of the collateral currency. An example will help to explain this concept. Suppose you received a loan with 90% Loan-to-value-ratio against 500,000 DINO when it was valued at $0.0220 (approx. $11,000). You were then provided with 90% of your collateral; in this case $9,900. To receive your DINO collateral back, you must repay that exact amount – regardless if DINO rises to $0.1100 or higher. Technically speaking, when repaying the loan at that point, you’d be getting back a total of $55,000 instead of the original $11,000! Crypto loans allow users to leverage their assets and potentially gain profit simultaneously – making them incredibly advantageous.
- Make a huge purchase and continue holding – The crypto loan allows you to enjoy the value of the invested fiat money while inflation permanently decreases it. Today the same amount values more than tomorrow. Therefore, when you take out a crypto loan against DINO, you keep all your DINO assets but gain extra funds to spend today, as we all know that tomorrow your wishes will be more expensive. 😉
- Tax optimization – Some countries require you to pay up to 40% on your crypto investment profits. There is no direct profit in a loan transaction. So you can take a loan and maximize your tax efficiency without worrying about taxes.
- Technique for managing risks – Rather than holding DINO tokens and risking the unpredictable fluctuations of the crypto markets, crypto investors now have the opportunity to utilize their investments as collateral for a DINO loan. They can access funds while their assets remain secure, allowing them to manage their risks. In this way, they can benefit from the lower interest rates of crypto loans while protecting themselves from potential losses from market volatility at the same time.
Is there a way to work with DINO volatility to avoid liquidation?
DINO crypto volatility can result in liquidation. When you use your DINO to take a loan, it is important to monitor the status of your loan. CoinRabbit offers an instant alert system, which uses SMS and e-mail to inform users when there is a potential liquidation.
You can always add more collateral to adjust the Liquidation price of your loan. Loan collateral at CoinRabbit isn’t frozen; therefore, liquidation prices are adjusted immediately by adding more collateral or repaying your loan.
Aside from that, you can decrease the LTV at any time while the loan is open by adding more collateral. For example, CoinRabbit’s minimum loan LTV is 50%. CoinRabbit allows you to increase collateral immediately after opening a loan, so the LTV will decrease at a rate that suits you.
How to get a DINO loan in 4 steps
The application process for a DINO crypto loan has been significantly simplified thanks to crypto loan platforms like CoinRabbit.
- Choose DINO crypto as your preferred collateral on the homepage, under the Loan calculator section.
- By entering the amount of DINO crypto you want to deposit as collateral, the Calculator will show you the Loan Amounts you will receive, and click “Get Loan.”
- We will ask you to confirm the details, enter your stablecoin address, and verify your email address after clicking “Get Loan”
- Next, send DINO to the displayed address. After we receive your collateral, the loan will be sent to you immediately.
Conclusion
DINO crypto loans with CoinRabbit – is a great tool for crypto investors and holders: you can use a crypto loan to optimize your taxes, make a huge purchase, reinvest in new cryptocurrencies and many more while continuing holding your digital assets.
It’s important to remember that all operations with crypto are highly risky. When you get a loan with any crypto lending platform – don’t forget to check the status of your crypto loan periodically and add collateral if it’s needed to avoid liquidation of the loan.
