Nitrogen, a decentralized peer-to-peer network, seems confident to handle the growing demand for cryptocurrency lending and has launched new features that grant users the ability to borrow USD-backed stablecoins using cryptocurrencies as collateral.
According to Bloomberg, the demand for loans backed with crypto as collateral escalated last year with the devaluation in Bitcoin price and other coins. Nitrogen services allow users to “borrow and lend in a safe and transparent way” with helpful features for both the lenders as the borrowers.
Changing the Perspective
Nitrogen Network has been developed as a noncustodial lending protocol under the company’s beliefs that decentralization offers concrete benefits to the community. Such protocol presents MetaMask and Ledger wallet integration, reduces fees associated with the risk of lending and borrowing money, and users have full access to loans.
Both lenders and borrowers now have the ability to specify the terms they wish to follow in order to proceed with the transaction, Nitrogen’s peer-to-peer protocol has enabled them to use multiple factors to consider when making a loan. Nitrogen has created a user-friendly launchpad that delivers quick and clear steps to follow in order to generate a loan. Borrowers don’t have to wait for lenders since loans can be found instantly with just a click.
Expanding the Horizon
Nitrogen has announced a brand-new partnership with Changelly to create a noncustodial instant cryptocurrency exchange. In a recent blog post, Changelly said it was confident that this partnership would generate new opportunities for users in both platforms: Nitrogen users would profit from instant access to the crypto assets they need and Changelly’s community now will have the opportunity to take part and generate borrowing contracts while keeping possession of their assets. The platform sole purpose is to guarantee that credit is available on demand instantly to those who need it, keeping their crypto assets safe and intact.