Instant Crypto Loans: Unlock Your Funds
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Ethereum Classic

Ethereum Classic loans.
Borrow against ETC.

Empower Your Crypto Journey with Cropty's Flexible Financing Solutions
Instant Crypto Loans: Unlock Your Funds

What is Ethereum Classic?

What is Ethereum Classic?
What is Ethereum Classic?

Ethereum Classic is a decentralized computing platform designed to execute smart contracts, which are applications that run as programmed without the possibility of censorship or third-party interference. It is a distributed network consisting of a blockchain ledger, a native cryptocurrency (called ETC), and an ecosystem of on-chain applications and services. Ethereum Classic is the legacy chain that split from Ethereum following a contentious hard fork, known as The DAO fork, in Jul. 2017. Like its sister chain, Ethereum Classic features an execution engine optimized for smart contract processing (known as the Ethereum Virtual Machine or EVM) and a Proof of Work (PoW) consensus system. While it shares some aspects with Ethereum, Ethereum Classic offers a more defined monetary policy and inflation schedule.

How do loans backed by ETC works

How do loans backed by ETC works

Crypto loans provide a hassle-free avenue for both loan-seekers and investors. Those in need of a loan can utilize their digital cryptocurrency, such as Ethereum Classic (ETC), as a guarantee to obtain loans in USDT, retaining their cryptocurrency ownership. It discards the need for tedious paperwork and credit assessments usually involved in traditional loans.

Similarly, investors can commit their digital assets like the Ethereum Classic, into a secure account on the Cropty platform. As the guardian of assets, this setup safeguards interactions between lending and borrowing parties and ensures a smooth operation with utmost care for both parties' interests.

Such assured access to capital in precarious market conditions spur the borrower's potential, while ensuring zero cryptocurrency sale, mitigating any potential losses. The process simplifies the lending process, reducing paperwork and credit assessments usually involved in traditional loans.

On the other end of the spectrum, lenders enjoy the benefit of interest payments on their deposited cryptocurrencies, enabling them to profit from their digital assets. This arrangement creates a mutually beneficial lending arena, where borrowers and lenders both enjoy privileges.

Being the orchestrator of these interactions, Cropty employs blockchain technology guaranteeing secure, peer-to-peer transactions, and reducing the possibility of fraudulent activities to create a safe Ethereum Classic-secured lending enclave.

Ethereum Classic Loan Calculator

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15% per year
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Crypto Loans explained
Crypto Loans explained

Crypto Loans explained

In our video, we take you on an exciting and informative journey into the realm of crypto lending and borrowing on the Cropty platform. Discover how this revolutionary system works, learn how to take out a loan, and explore the seamless process of loan repayment. Packed with valuable insights and tips, this video is your ultimate guide to harnessing the potential of crypto credit.

How to get a loan on Ethereum Classic? Borrow usd against Ethereum Classic on Cropty

The process of getting an Ethereum Classic cryptocurrency loan is quite simple. First, you need to create your account on Cropty, a platform that offers Ethereum Classic cryptocurrency lending services. Then, you need to provide your ETC 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 Ethereum Classic 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.

How to get a loan on Ethereum Classic? Borrow usd against Ethereum Classic on Cropty

To authorize an Ethereum Classic 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.

Learn more about ETC Crypto Loans

Learn more about ETC Crypto Loans
Ethereum Classic lending
Ethereum Classic lending
ETC loans, backed by Ethereum Classic, have surged in popularity as an avenue for crypto owners to gain funds. These loans allow owners to cash-in on the value of their Ethereum Classic, providing immediate cash flow without asset liquidation. Borrower's Ethereum Classic collateral ensures a safe loan landscape. With this method, acquiring an ETC loan is streamlined, giving flexibility for the funds use like investments, settling bills, or even laying the groundwork for a business. Ethereum Classic-backed loans are revolutionizing finance, granting people new paths to utilize their ETC for necessary capital.
ETC as a collateral
ETC as a collateral
Highly favored for crypto-based lending, Ethereum Classic (abbreviated as ETC) offers a platform where one can either give out their ETC for loans to earn profits or borrow it. These arrangements facilitate acquiring loans by using ETC assets as surety, hence, availing immediate financial support without the need to sell the assets. Intriguingly, one can borrow funds denominated in USD against their ETC, offering greater liquidity and flexibility. But what's the mechanism behind ETC loans? Essentially, the user's ETC is held as a security deposit, and they receive a loan based on ETC's market value. These short-term crypto credits serve as an efficient method for those desiring quicker fund accessibility while preserving their ETC investments.
Interest rates on loans secured by Ethereum Classic.
Interest rates on loans secured by Ethereum Classic.

Interest rates on loans secured by Ethereum Classic.

At Cropty, we appreciate the significance of offering competitive lending rates. We, therefore, provide loan facilities based on cryptocurrency at an appealing rate of 9%. Regardless of your funding needs, be it personal or business-related, our economical loans offer an efficient way to acquire liquidity without disposing of your precious cryptocurrencies.

Notably, collateralization is a distinct aspect of Cropty's crypto loan system. In an event where the borrower fails to meet their loan obligations, the collateral, in this case, ETC, remains with Cropty, while the borrower retains Tether USDT issued. This guarantees an equitable process in managing default loans, ensuring mutual benefit.

Due to the risk of Ethereum Classic losing value, Cropty incorporates an automated sell-off feature. This kicks in when the collateral's worth goes below a given level, instigating immediate liquidation of the loan. Such a foresight mechanism safeguards both lender and borrower against potential drawbacks following a market slump.

At the heart of Cropty's core values are openness and convenience. Our customers can effortlessly keep track of their loan status through our intuitively designed platform. Additionally, we offer borrowers the leverage to supplement collateral, plan an early repayment, or terminate the loan by settling the borrowed sum along with the accrued interest.

Thinking of crypto loans? Cropty dispenses instant coin-based loans. You have an opportunity to borrow against Ethereum Classic, obtaining Tether USDT in return. Our crypto-secured loans offer a prompt and handy solution to meet your financial necessities.

Why choose Ethereum Classic Cropty Loan

Take advantage of limitless possibilities: Get any amount at any time with our unbeatable cryptocurrency line of credit.
Easy access to funds
By leveraging your crypto assets as collateral, you can quickly obtain loans without the need for extensive credit checks or income verification, making the process more efficient and accessible.
35+ Currencies
Choose your collateral from over 35 cryptocurrencies and borrow instantly from USDT.
No inspections!
Cryptocurrency loans allow you to access credit without checking your credit history.
Interest - hourly
We charge interest on the loan hourly. However, during the first hour after taking out the loan, you have the opportunity to repay it without any additional fees. This sets us apart from our competitors.
Lower interest rates
Because cryptocurrency loans are collateralized, lenders often offer lower interest rates than traditional unsecured loans, making them more cost-effective for borrowers.
Flash approval
Receive funds in the same minute without spending more than 3 taps
Maintain ownership of your crypto
With crypto-backed loans, you retain ownership of your digital assets while using them as collateral. This allows you to benefit from potential market growth and regain full control of your assets once the loan is repaid.

FAQ

What is Cropty Ethereum Classic Crypto Loan?

Cropty Ethereum Classic Crypto Loan is a secure, overcollateralized, and flexible loan product. Users can take loans by pledging their crypto assets as collateral. With Cropty, you don't have to worry about rehypothecation since we don't lend out your collateralized crypto to others.

How do I pledge my assets and start borrowing with Cropty Ethereum Classic Crypto Loan?

To start, choose the crypto you'd like to pledge as collateral and the amount you'd like to borrow. Ensure you have sufficient crypto assets in your account to cover the required collateral. Once the process is complete, your collateral will be locked, and the loan will be transferred to your account.

What is LTV, and how much can I borrow from Cropty Ethereum Classic Crypto Loan?

LTV (Loan-to-Value) represents the ratio between the value of the loan plus accrued interest and the value of your collateral. The LTV percentage determines how much you can borrow based on the collateral you pledge. For example, with a 50% LTV, if you pledge 1,000 USDT, you may borrow up to 500 USDT worth of assets.

Are there limits to how much I can pledge and borrow?

Yes, there are limits for each cryptocurrency. The maximum amount you can pledge or borrow depends on the specific crypto and may change periodically.

What is loan liquidation, and what is the liquidation LTV?

Loan liquidation occurs when the current LTV exceeds the liquidation LTV, which may happen if the collateral's value decreases or the loan's value increases. If liquidation occurs, you may lose some or all of your collateral.

What happens when a loan is liquidated?

When liquidation occurs, the outstanding loan amount will be repaid using the equivalent value of collateral. A partial liquidation happens when the liquidation doesn't fully cover the outstanding loan, and a full liquidation occurs when the entire loan is repaid using the collateral.

What is a margin call?

A margin call is a warning issued when your collateral-loan pair position reaches its margin call LTV. You can take action by adding more collateral or reducing the outstanding loan to lower the LTV.

Will I be notified in the event of margin calls or liquidations?

Yes, Cropty will send notifications via email and SMS in case of margin calls or liquidations. However, timely delivery of these notifications cannot be guaranteed.

What interest rate applies to my loan?

Cropty provides transparent interest rates for each cryptocurrency. Please refer to the platform for up-to-date interest rates.

How is interest accrued for my loan positions?

Interest accrues based on the total outstanding loan amount and the prevailing APR. The interest accrued is added to the total outstanding loan.

How do I repay my loan or adjust my LTV?

Use the 'Repay' or 'Adjust LTV' options in your account to repay loans or adjust collateral, respectively. You can only repay your loan using the same cryptocurrency you borrowed.

Which cryptocurrencies can I pledge or borrow on Cropty Crypto Loan?

Cropty Crypto Loan accepts a variety of cryptocurrencies as loanable and collateral assets. The list of available cryptocurrencies is updated periodically, so please refer to the platform for more information.

What can I do with the cryptocurrencies borrowed from Cropty Ethereum Classic Crypto Loan?

You can use the borrowed cryptocurrencies for various purposes, including trading, investing, or withdrawing from the platform. The collateral you pledge remains with Cropty as security for the repayment of your loan.
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