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First Digital USD

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First Digital USD loans.
Borrow against FDUSD.

Empower Your Crypto Journey with Cropty's Flexible Financing Solutions

What is First Digital USD?

First Digital USD (FDUSD) is a stablecoin pegged to the US dollar. It is a digital currency that aims to provide a stable and trustworthy alternative to traditional currencies, while also offering the benefits of fast, secure, and transparent transactions that are characteristic of blockchain technology.

FDUSD is backed by an equivalent amount of US dollars held in reserve by FD121 Limited, a subsidiary of Hong Kong-based financial firm First Digital Limited. This reserve is regularly audited by independent auditors to ensure that FDUSD is fully backed and maintains its 1:1 peg to the US dollar.

FDUSD is currently available on the Ethereum and BNB Chain blockchains, with plans to expand to other blockchains in the future. It can be used for a variety of purposes, including:

Making payments: FDUSD can be used to make payments for goods and services online and in person.
Trading: FDUSD can be traded on cryptocurrency exchanges like Binance and Huobi.
Storing value: FDUSD can be held as a store of value, similar to how people hold US dollars or other fiat currencies.

FDUSD is a relatively new stablecoin, but it has already gained traction in the cryptocurrency market due to its strong backing and commitment to transparency. If you are looking for a stable and trustworthy digital currency, FDUSD is a good option to consider.

Here are some of the benefits of using FDUSD:

Stability: FDUSD is pegged to the US dollar, which is one of the most stable currencies in the world. This means that the value of FDUSD is unlikely to fluctuate wildly, making it a good option for storing value and making payments.
Transparency: FDUSD is backed by an equivalent amount of US dollars held in reserve, and this reserve is regularly audited by independent auditors. This transparency helps to ensure that FDUSD is a trustworthy and reliable currency.
Security: FDUSD is based on blockchain technology, which is a secure and tamper-proof way of storing and transacting digital assets. This makes FDUSD a safe and secure way to store your money.
Speed and efficiency: Transactions with FDUSD are fast and efficient, thanks to the power of blockchain technology. This makes FDUSD a good option for making payments and other transactions.

How do loans backed by FDUSD works

Crypto-financing provides a seamless solution for lenders and borrowers alike. Borrowers can secure credits in USDT via their cryptocurrency assets as collateral, all the while maintaining ownership of their digital holdings. This bypasses the standard need for credit assessments and paperwork, thus accelerating and reducing the cost of the process.

Lenders, on the other hand, are allowed to lodge their cryptocurrencies, such as First Digital USD (FDUSD), into a specified account on Cropty's platform. A custodian supervises the interchange between the lenders and borrowers, creating a secured process. Their role, as a reputable intermediary, ensures the protection of both parties.

Borrowers stand to gain from this by unlocking liquid funds without the need to sell their digital assets. This proves advantageous during market volatility, as potential losses can be eschewed. Additionally, this lending model streamlines the loan process and forgoes the requirement for credit studies.

Lenders receive profits from their deposited cryptocurrencies via loan paybacks, making their digital assets lucrative. The formula pays off for both borrowers, who access loans, and lenders, who make a gain from their participation.

The interactions between the lenders and borrowers on Cropty's platform are orchestrated, securing all transactions with the blockchain technology, sans any intermediaries. This curtails fraudulent activities and crafts a secure credit provision scenario.

First Digital USD Loan Calculator

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USDT

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15% per year

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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 First Digital USD? Borrow usd against First Digital USD on Cropty

The process of getting an First Digital USD cryptocurrency loan is quite simple. First, you need to create your account on Cropty, a platform that offers First Digital USD cryptocurrency lending services. Then, you need to provide your FDUSD 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 First Digital USD 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 First Digital USD? Borrow usd against First Digital USD on Cropty

To authorize an First Digital USD 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.

First Digital USD lending

First Digital USD-backed loans have emerged as an increasingly trendy route for crypto holders to get funds. Through First Digital USD-secured credits, members have the ability to leverage their First Digital USD assets to obtain immediate liquidity without the necessity to liquidate their holdings. These borrowings, backed by First Digital USD's value, offer a stable lending landscape. Individuals can readily get an FDUSD credit and employ the capital for diverse needs including investments, bill settlements, or even initiating a enterprise. This avant-garde FDUSD loan solution presents novel avenues for persons to capitalize on their First Digital USD possessions and procure an imperative capital influx.

FDUSD as a collateral

First Digital USD, also known as FDUSD, has surged as a go-to platform for loans backed by cryptocurrency. Through the FDUSD lending network, clients have the flexibility to either borrow FDUSD or lend their own FDUSD to generate interest income. Crypto loans backed by FDUSD offer a great deal of convenience, letting individuals leverage their FDUSD assets to secure immediate funding rather than disposing of these valuable investments. Quite interestingly, one can also borrow in actual USD against their FDUSD accounts, thereby enhancing their financial fluidity. However, how exactly does this FDUSD loan function? Usually, consumers pledge their FDUSD as a guarantee, and dependent on its worth, a corresponding loan is disbursed. Therefore, such instantaneous crypto loans not only ensure prompt funds availability but also let clients retain their invaluable FDUSD assets.

Interest rates for loans secured by First Digital USD

At Cropty, we recognise the significance of competitive lending rates. Hence, we furnish loans backed by cryptocurrency at an impressive interest rate of 9%. Whether you seek funds for personal or commercial purposes, our affordable rate loans are an efficient avenue to obtain liquidity and retain your valuable cryptos.

What sets apart Cropty's crypto loans is our collateralization procedure. In instances where a borrower fails to repay the loan, the reserve FDUSD stays with Cropty while the Tether USDT issued prior is retained by the borrower. This promotes an equitable recovery system for the loan, bringing advantages to all parties included.

Cropty utilises an automatic clearance mechanism to counteract the risk of First Digital USD depreciation. If the collateral value descends beneath a critical mark, the loan undergoes liquidation. This preemptive strategy defends both lenders and borrowers from possible losses during a market decline.

We at Cropty prioritize clarity and convenience for our users. Through our user-friendly interface, loan product status monitoring is a breeze. Borrowers are given flexibilities as well - additional collateral can be added, the loan can be settled earlier than planned, or they can opt to close out the loan, covering the borrowed sum plus the interest that has accumulated.

Contemplating how to secure a loan utilizing cryptocurrency? Cropty avails immediate coin loans. Borrow against the First Digital USD to receive Tether USDT in haste. Our cryptojourney loans cater for a swift and user-friendly financial solution to your needs.

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Why choose First Digital USD 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 First Digital USD Crypto Loan?

Cropty First Digital USD 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 First Digital USD 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 First Digital USD 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 First Digital USD 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.

Can't find the answer to your question? Visit our support center

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From First Digital USD to altcoins, our diverse range of supported assets provides you with the freedom to choose the perfect collateral for your loan