Zebpay Luanches crypto lending services

Indian cryptocurrency exchange Zebpay has recently launched a crypto-lending service. Read on to know what is crypto lending and how it works.

ZebPay, one of India's premier cryptocurrency platforms, has started India's first crypto lending platform through their crypto exchange app. As per Zebpay, the lending platform, they have launched a 'first of its kind' crypto lending solution in India and will allow crypto investors in ZebPay to use their cryptocurrencies to earn interest.

What is Cryptolending?

As per ZebPay, crypto lending is the process of locking in crypto investments on the crypto lending platform, in order to earn fixed amounts of returns based on fixed periods of time. ZebPay has announced that the company will be offering open term lending as well as fixed-term lending.

One of the benefits of open term trading is the option to withdraw your locked-in cryptocurrency at any time, without being fined. On the other hand, in fixed-term lending, investors can put their crypto into Zebpay deposit for a fixed amount of time, ranging from 7 days, 30 days, 60 days and 90 days periods. The rate of returns will vary in each lending period.

Zebpay Lending Platform

The crypto lending platform called 'ZebPay Lending Platform' is already online and available on the ZebPay app. If users can't find the ZebPay lending platform on the app, they may have to update the App from the AppStore or the PlayStore. As of now, only a few cryptocurrencies are available to be staked for earning interest. These selected cryptocurrencies include Bitcoin, Ethereum, Tether, and Dai. As per Zebpay's official blog here are the annual interest rates offered on each currency.

Interest on Bitcoin - 3 per cent
Interest on Ethreum - 7 per cent
Interest on Dai - 7 per cent
Interest on Tether - 12 per cent

While crypto lending is new in India, many crypto international crypto exchanges have 'crypto staking' options in place. Binance and Coinbase have their own staking options for many cryptocurrencies. Zebpay will add more crypto currencies for lending services.
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