India’s leading cryptocurrency exchange, CoinDCX is making news yet again, for all the right reasons. The Mumbai-based company has launched a brand new program called “DCXlend” on Thursday.
It is an excellent prospect for netting inert income through cryptocurrencies like, XRP, USDT, ETH, BTC, and BNB that are just sitting in your CoinDCX account.
This quick and user-friendly program not only comes with varying lending durations for your cryptocurrencies but also certifies reasonable interests on the same.
The program is already making its way in the crypto-world as Sumit Gupta, the CEO of CoinDCX, disclosed in an interview that during the testing period, Dcxlend was operated only with two cryptocurrencies namely, USDT and BTC and witnessed a flow of 170 BTC every day owing to approximately 120 lenders.
“The fame of the program proved to be a motivation, and we thereby decided to scale up the venture to a total of 5 cryptocurrencies,” Gupta further elaborated.
Lending Terms and Interest Rates
The program offers three lending term durations of a week, half a month and a month. The rates of interest animatedly vary from 0.75 percent for ETH to 2 percent for BTC and 1 percent for the rest of the cryptocurrencies, in accordance with the market statistics and stock.
Facilitating Crypto Lending and Trading
The website has also announced that the program has an in-house settlement and liquidation method for margin trading.
Besides all these brilliant aspects along with its purely programmed and encrypted activities, DCXlend offers two-factor authentication and promises of a cake-walk experience for its clients.
Similar programs are already successfully running around the world. Blockfi, in the US, has a program where customers can earn an interest on their BTC and ETH savings. GMO Coin, in Japan, had launched a similar lending program for BTC, BCH, ETH, LTC and XRP.