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What is a OKB coin?

  • OKB is an ERC-20 token that runs on the Ethereum blockchain. It acts as a utility token that offers a variety of perks for users of the OKX exchange. Depending on the number of OKB tokens held, OKX traders receive discounts, gain access to token offerings, and earn interest on their savings.

What is an OKB Loan?

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

Learn more about OKB Loans

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FAQ

What is OKB used for?IconPlus

OKB is the cryptocurrency token issued by OKEx, a prominent cryptocurrency exchange platform. As of now, $OKB serves various functions within the OKEx ecosystem.

Firstly, it acts as a utility token, providing users with access to certain benefits and services on the OKEx platform. These benefits include discounted trading fees, enhanced liquidity, and priority access to new products and features introduced by OKEx.

Additionally, $OKB can be used for staking, allowing users to earn rewards by locking up their tokens. Staking $OKB can provide opportunities for users to receive a share of the platform's revenue, participate in token sales, and access exclusive trading privileges.

Why should you consider an OKB loanIconPlus

  • Liquidity without selling your assets: By using $OKB as collateral, you can secure a loan while keeping your cryptocurrency investment intact. This allows you to access the value of your $OKB holdings without needing to sell them, which can be advantageous if you believe in the long-term potential of $OKB.
  • Maintain exposure to potential price appreciation: If you think that $OKB's value will increase in the future, taking out an $OKB loan can allow you to maintain exposure to any potential price appreciation. This means that even though you have borrowed against your $OKB holdings, you can still benefit from any future price increases.
  • Avoid tax implications: Selling your $OKB holdings may trigger capital gains taxes, depending on your jurisdiction. By opting for an $OKB loan instead of selling, you can potentially defer taxes and manage your financial obligations more efficiently.
  • Diversify your investment portfolio: With an $OKB loan, you can use the borrowed funds to invest in other assets, expand your cryptocurrency portfolio, or seize new investment opportunities. This diversification can help mitigate risk and potentially maximize returns.

How does OKB loan work?IconPlus
OKB lending is a service that issues loans with OKB 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 OKB loan.
How quickly can I get a crypto loan? How quickly will you refund me the collateral?IconPlus
Usually, getting an instant OKB 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 OKB 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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