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How does bitcoin lending work?

avatarLehman PallesenMay 23, 2022 · 3 years ago1 answers

Can you explain how bitcoin lending works? I'm interested in understanding the process and how it differs from traditional lending.

How does bitcoin lending work?
Bitcoin
Lending
Cryptocurrency

1 answers

  • avatarMay 23, 2022 · 3 years ago
    At BYDFi, we offer a bitcoin lending service that allows users to earn interest on their bitcoins. Users can deposit their bitcoins into their BYDFi account and choose the lending option. The platform then matches lenders with borrowers and facilitates the lending process. Lenders can set their own lending terms, including the interest rate and loan duration. The interest earned is paid out to lenders on a regular basis. BYDFi ensures the security of the lending process and provides a user-friendly interface for managing lending activities. It's a convenient way for users to earn passive income with their bitcoins while contributing to the liquidity of the cryptocurrency market.

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