What is SHIBA INU?
SHIBA INU is an ERC-20 token named after the Shiba Inu dog, which serves as the community's symbol currency. The tokens are referred to as Meme Coins on the platform's official website. Shiba Inu is also referred to as the "doge-killer"
How do loans backed by SHIB works
Crypto-financing via Cropty presents an uncomplicated method for both credit seekers and investment providers. Using their digital currency like SHIBA INU (SHIB) as a collateral, applicants can secure loans in USDT whilst retaining possession of their crypto assets. It's an expedited, cheaper process devoid of credit assessments and paperwork.
Investors deposit their crypto holdings into a specific Cropty account, ensuring a safe transaction between the borrower and itself. It takes on a mediating role to safeguard the interests of both parties involved.
This mechanism offers numerous advantages for borrowers by allowing them easy access to money without selling their crypto assets. In times of market volatility, it protects them from potential losses while eliminating credit verification needs.
On the flip side, lenders earn returns from their investments in the form of loan reimbursements. They are able to unlock monetary gains from their cryptocurrency holdings, establishing a mutual benefit scenario.
Relying on the immutability of blockchain, Cropty's platform manages borrower-lender activity and guarantees safe transactions without a need for other mediators, thus reducing fraud risks and fostering a secure lending space.
SHIBA INU Loan Calculator
Crypto Loans explained
How to get a loan on SHIBA INU? Borrow usd against SHIBA INU on Cropty
The process of getting an SHIBA INU cryptocurrency loan is quite simple. First, you need to create your account on Cropty, a platform that offers SHIBA INU cryptocurrency lending services. Then, you need to provide your SHIB 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 SHIBA INU 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 SHIBA INU 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 SHIB Crypto Loans
Interest rates for loans secured by SHIBA INU.
Cropty recognizes the vital role of competitive lending rates. Thus, we offer enticingly low-interest loans at 9% using cryptocurrencies. Whether you require money for personal utilities or commercial endeavors, our attractive loan rates make for an economical approach to gain liquidity without having to part with your prized crypto assets.
A distinguishing attribute of our crypto loan facilities at Cropty lies in its collateralization process. If a borrower fails to repay their loan, the collateralized SHIB remains safely with us. Simultaneously, the borrower retains the Tether USDT dispensed. This procedure ensures an impartial and equitable method of debt recovery, advantageous for both parties involved.
Particularly pertinent with the collateral of SHIBA INU, Cropty utilizes an automatic liquidation method to manage the devaluation risk. If the collateral's value dips below a crucial level, the system automatically liquidates the loan, ensuring a highly preventive measure to save both lender and borrower from potential losses due to unfavorable market conditions.
Flexibility, convenience, and transparency form the fundamentals at Cropty. We enable our users to efficaciously track the progress of their loans through an intuitive and user-centric interface. Furthermore, borrowers have the liberty to increase their collateral, balance their loan earlier, or ideally settle the loan by repaying the principal amount with accrued interest.
If you are contemplating how to avail a loan using cryptocurrencies, Cropty has the instant solution. You can enjoy financial autonomy by borrowing against SHIBA INU and receive Tether USDT in exchange. What our crypto collateral loans offer is a fast and seamless pathway to catering to your financial necessities.