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What is a Polygon coin?

  • Polygon (MATIC) is a layer-2 solution created to improve upon the functionality of the layer-1 blockchain known as Ethereum (ETH). Its main goal is to speed up the network and make the transaction fees lower. Moreover it has numerous new features and any developer can build on top of the Polygon (MATIC) platform due to the accessibility of the Polygon Software Development Kit (SDK).

What is a MATIC Loan?

  • A MATIC loan is the loan borrowed against MATIC cryptocurrency as collateral. Here’s how it works: you bring some cryptocurrency Polygon to a lending service, leave it there temporarily as collateral, and get an amount of a certain cryptocurrency in return. On CoinRabbit MATIC lending, we lend stablecoins such as Tether USDT, USD Coin and BUSD.

Learn more about Polygon Loans

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FAQ

What is Polygon used for?IconPlus
Polygon (MATIC) is a cryptocurrency and a technology platform that was launched to connect and grow Ethereum-compatible projects and blockchains. MATIC tokens are used to govern and secure the Polygon network
Why should you consider an MATIC loan?IconPlus
According to the Polygon crypto potential growth the cryptocurrency believers can use MATIC loans for the long-term and short-term periods. The main straights of the Polygon coin:
- Polygon uses a Proof-of-Stake in its consensus mechanism what makes it sustainable ecosystem
- MATIC showed good results during the last year unlike many other cryptocurrencies and it seems to be following a long-term bullish trend
How does Polygon loan work?IconPlus
Polygon lending is a service that issues loans with Polygon cryptocurrency collateral for a yearly interest. The interest can vary from 10% up to 18% and more. There is no credit history and no credit checks — the only way you prove your credibility is the collateral you’re ready to provide. It will be temporarily stored in a lending service making sure you will repay your Polygon loan.
How quickly can I get a crypto loan? How quickly will you refund me the collateral?IconPlus
Usually, getting an instant MATIC loan takes no longer than 10 minutes. Since there are no credit checks, it’s that fast. The longest part of getting a loan is waiting for the confirmation of your Polygon transaction.The collateral will be refunded instantly whenever you come back to repay your loan. You can do it when you want: in a month, in a year, or in many years — our loan period is limitless. Enjoy your money as long as you need.
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