Loan

Polygon

Loan

Polygon loans.
Borrow against MATIC.

Empower Your Crypto Journey with Cropty's Flexible Financing Solutions

What is Polygon?

Polygon is a platform design to support infrastructure development and help Ethereum scale. Its core component is a modular, flexible framework (Polygon SDK) that allows developers to build and connect Layer-2 infrastructures like Plasma, Optimistic Rollups, zkRollups, and Validium and standalone sidechains like the project's flagship product, Matic POS (Proof-of-Stake). Polygon rebranded from Matic Network in February 2021 and pivoted towards supporting multiple Layer-2 infrastructure. It will continue to support the Matic POS sidechain and Plasma-based payment system, which currently hosts over 90 applications.

How do loans backed by MATIC works

Crypto-finance facilitates an uncomplicated avenue for debtors and creditees. Using cryptographic assets as security, borrowers can obtain credits in USDT, while retaining possession of their digital holdings. This eradicates necessities like credit investigations and documentation, accelerating the procedure and lowering costs.

Creditees have the opportunity to stash cryptocurrencies, such as Polygon (MATIC), in a specified account within Cropty’s platform. A designated custodian supervising the exchange between borrowers and lenders, provides assurances of a secure transaction. Their role as a reliable mediator ensures that the rights of both parties are safeguarded.

This system aids borrowers by providing them with access to capital without the requirement to offload their cryptos. During erratic shifts in the market, this platform serves as a bulwark against potential shortfalls as it eradicates the need for credit probes.

Meanwhile, lenders reap returns on their infusions via loan reimbursements, enabling profitable gains from their crypto assets. The arrangement champions a symbiotic relationship where both borrowers secure loans and lenders enjoy accrued advantages.

Overseeing borrower-lender relations, Cropty’s platform uses blockchain technology to guarantee safe operations devoid of intermediaries, mitigating deception risks and creating a secure lending ambience.

Polygon Loan Calculator

Crunch the Numbers and Discover Your Loan Potential

Loan amount

USDT

Collateral Required

Interest rate

15% per year

Monthly Interest Amount

Quarterly Interest Amount

Yearly Interest Amount

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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 Polygon? Borrow usd against Polygon on Cropty

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

To authorize an Polygon 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 MATIC Crypto Loans

Polygon lending

Securing loans by Polygon has swiftly become a favored method by holders of cryptocurrency to gain financial resources. These kinds of loans, bound by an individual's Polygon, offer prompt access to liquidity without a necessity to cash out their assets. Moreover, these loans are cushioned by the worth of the borrower's Polygon, enabling a protective loan sphere. Now it's simpler for borrowers to acquire a loan in MATIC and utilize these resources for a multiplicity of needs – from investments, settling bills to even initiating a new venture. This novel approach to MATIC borrowing has paved the way for individuals to use their Polygon assets to get important capital.

MATIC as a collateral

MATIC, also known as Polygon, has grown in popularity as a robust basis for crypto-secured loans. Via Polygon-based lending platforms, users can both loan their MATIC to stimulate interest returns, and borrow using their Polygon holdings. Thus, this facility offers immediate fund acquisition without the need to offload any assets. Additionally, borrowers can obtain USD loans using their MATIC as collateral, enhancing liquidity and providing versatility. Wondering how this operates? It’s straightforward; users secure their MATIC holdings to back the loans, and depending on the asset’s value, they obtain the agreed loan amount. These instant crypto-cash transactions form an effortless strategy for those after swift fund access whilst preserving their nascent Polygon investments.

Interest rates of loans supported by Polygon

At Cropty, we appreciate how crucial competitive loan rates are. This is why we extend loans backed by cryptocurrency at an appealing rate of just 9%. Our economical loans are a practical option for accessing liquidity without the need to sell off your precious cryptocurrencies, no matter if it's for personal or business use.

Cropty's crypto loans stand out due to the distinctive collateralization process. In case a loan default occurs, the MATIC collateral stays with Cropty, while the debtor retains the issued Tether USDT. This encourages a fair loan recovery system which favors both involved parties.

Cropty employs an automatic liquidation system to counter the risk associated with Polygon's value depreciation. Should the collateral's value drop below a certain point, the loan becomes subject to liquidation. This active prevention method safeguards both the lender and borrower against prospective losses stemming from market downturns.

We at Cropty prize honesty and lightness of use. Through our simplified interface, clients can expediently track their loan status. They are also granted the versatility to supplement their collateral, repay their loan prematurely, or settle the loan by returning the borrowed funds with any applicable interest charges.

Cropty makes acquiring cryptocurrency loans simpler. We offer instant coin loans where you may borrow against your Polygon to obtain Tether USDT. Our crypto-backed loans are designed to conveniently meet your monetary requirements in a timely manner.

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Why choose Polygon 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 Polygon Crypto Loan?

Cropty Polygon 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 Polygon 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 Polygon 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 Polygon 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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