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TALLINN, Estonia, June 23, 2020 / PRNewswire / – Sul first of June Ripple (XRP) has officially become listed on the CoinLoan platform. Within a week of listing, users deposited more than 14 million XRP tokens on the platform, making CoinLoan the leading cryptocurrency lending service using Ripple according to the company. Users who deposit their Ripple tokens on the platform can benefit from up to 5.7% APY and borrow with XRP as collateral. This is why the company believes that many XRP holders choose CoinLoan.
There are a couple of reasons why CoinLoan believes XRP holders are choosing their platform to deposit their XRP coins into such volume. Firstly, there are people who use the platform as a way to securely store their funds. According to the company, CoinLoan is a trusted entity with a financial institution license and state-of-the-art security, it’s a simple decision. Additionally, users can earn up to a 5.7% annual return on their businesses. All thanks to stakeout mechanisms. In addition to all of this, users can use XRP as collateral to borrow stablecoins or fiat assets in both the Instant Loans section and the loan market on the platform.
With regular exchanges, the only option is to deposit funds or exchange with another currency. With CoinLoan, users can deposit their funds, trade but also earn interest or apply for a loan at any time. For users who prefer to keep their options open with their XRP tokens, CoinLoan believes their platform is perfect.
Provide liquidity
On an individual level, the benefits of choosing users for the CoinLoan platform are obvious. However, these 14 million XRP tokens don’t come solely from individual users. There are miners, cryptocurrency exchanges, and OTC platforms contributing to this number. The reason for this is clear and obvious; the ability to maintain liquidity for all parties. CoinLoan works through partnerships with several established entities in the cryptocurrency industry to provide traders and miners with the ability to trade, stake and hold.
CoinLoan is on a mission to make cryptocurrency lending as easy as possible and, in doing so, have the opportunity to change your life. Where interest rates are negative and access to money market funds is limited, cryptocurrencies offer a solution and, therefore, should be available to anyone in the simplest way possible.
SOURCE CoinLoan
Related links
https://coinloan.io/
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