What is DOGS?
DOGS token is a memecoin built on the TON blockchain. It was inspired by Spotty, a character created by Pavel Durov, the founder of VK and Telegram. DOGS token is designed to connect deeply with Telegram users through its seamless integration with the platform.
How do loans backed by DOGS works
Crypto loans provide a straightforward option for both borrowers and lenders. Borrowers can obtain loans in USDT while using their cryptocurrencies as security, allowing them to retain ownership of their digital assets. This approach removes the hassle of credit assessments and extensive documentation, speeding up the process and reducing costs.
Lenders can place their cryptocurrencies, such as DOGS (DOGS), into a special account on the Cropty platform. A custodian manages the relationship between borrowers and lenders, guaranteeing a secure experience. Acting as a reliable intermediary, they safeguard the interests of both parties.
Borrowers gain by accessing funds without needing to sell off their cryptocurrencies. This is particularly advantageous during market volatility, helping them avoid possible losses. The lending system simplifies the loan procedure and eliminates the necessity for credit evaluations.
Lenders receive interest on their funds through loan repayments, allowing them to profit from their crypto assets. It is a mutually beneficial scenario where borrowers can secure loans, and lenders earn returns for their involvement.
Cropty’s platform manages the association between borrowers and lenders, while blockchain technology ensures safe transactions without needing intermediaries. This approach minimizes fraud risks and fosters a secure lending atmosphere.
DOGS Loan Calculator
Crypto Loans explained
How to get a loan on DOGS? Borrow usd against DOGS on Cropty
The process of getting an DOGS cryptocurrency loan is quite simple. First, you need to create your account on Cropty, a platform that offers DOGS cryptocurrency lending services. Then, you need to provide your DOGS as collateral and specify the loan amount you want to borrow. The platform then evaluates your collateral and gives you access to the required amount of Tether USDT.
Your creditworthiness is determined based on the value of your collateral, making the process of getting a cryptocurrency loan fast and convenient.
However, it is important to remember that DOGS cryptocurrency loans are not without risks. In case you default on the loan, your collateral can be seized. Therefore, you should carefully assess your repayment capacity before taking out a cryptocurrency loan.
To authorize an DOGS Crypto Loan, you will need to go to Features tab → Loan section → Borrow button
Choose the required loan amount the terms and conditions of the crypto loan, and apply for it by confirming it with a code from 2FA - application or E-mail or Telegram-bot.
Interest rates for loans secured by DOGS.
At Cropty, we recognize the significance of attractive interest rates. This is why we provide loans through cryptocurrency at an appealing rate of just 9%. Whether you're seeking funds for personal use or business expenses, our affordable loans offer an efficient way to access cash without needing to sell your precious cryptocurrencies.
One standout aspect of Cropty's crypto loans is the collateralization method. In the event of default, the collateral DOGS stays with Cropty, while the borrower retains the Tether USDT they received. This creates a fair process for loan recovery, ensuring that both parties benefit.
To mitigate the risks associated with a decrease in DOGS value, Cropty employs an automatic liquidation system. If the value of the collateral dips below a set level, the loan gets liquidated. This proactive strategy safeguards both lenders and borrowers against potential losses during market fluctuations.
Transparency and ease of use are critical at Cropty. Our platform allows users to effortlessly track their loan products via an intuitive interface. Borrowers can also increase collateral, pay off loans early, or settle the loan by covering the amount borrowed plus any interest that has accrued.
If you're curious about obtaining a loan through cryptocurrency, Cropty facilitates instant coin loans. You can leverage DOGS as collateral and receive Tether USDT in return. Our crypto-secured loans present a swift and convenient option for your financial requirements.