You can now lend cryptocurrencies!
Bybit starts the era of effortless crypto lending with its new product. Here are all the details.
Bybit, the third most visited crypto exchange in the world, is launching its new service “Bybit Lending”. This cutting-edge product allows users to earn high-interest returns on their idle crypto assets.
A convenient and lucrative way for users to earn passive income, Bybit Lending offers a high percentage of annual return (APY) ranging from 4% to 1,000%. Interest yields are paid on an hourly basis. The ability for users to deposit and withdraw their funds at any time also makes it possible to make the most of market fluctuations. The product also features state-of-the-art risk management systems that ensure users' assets are safe throughout the lending process.
Lending cryptocurrencies is the new trend now
Users can start their lending adventure with Bybit by following four simple steps, so that both new and experienced customers can easily access the "Bybit Lending" product. Lenders can earn interest payments by transferring their idle crypto assets to a pool.
Bybit Lending acts as an intermediary in the crypto environment, bridging borrowers and lenders. Thanks to Bybit's advanced KYC, AML and proof of reserve, the whole process is as transparent as it is seamless. Expressing his thoughts on this cutting-edge lending product, Bybit's co-founder and CEO Ben Zhou said, “At Bybit, we believe in the importance of providing our users with different ways to earn passive income,” he said. Bybit Lending service, which allows them to use strategies such as buying, trading and taking advantage of high APY, offers our users a wide variety of new options to increase their assets.”
