Empowering Farmers with Crypto-based loans

Block Commodities, an Agri-tech firm from Africa has launched a pilot project Farmer 3.0  based on crypto loans to empower farmers by providing a transparent and trustworthy ecosystem.

The project started in Uganda with around 1000 farmers, were provided with crypto loans to purchase seeds, agricultural tools, and fertilizers. Innovative technology with intelligent data is helping farmers manage resources and conditions[such as soil fertility, weather conditions] better for production.

Read more at blockcommodities.

 

Nexo adds support for Bitcoin Cash

Nexo, the crypto lending firm from Switzerland has announced adding support for bitcoin cash [BCH] as a plan to expand their service offerings. Quite recently the firm added Ripple’s XRP and now support Litecoin and bitcoin cash. The coins BTC, ETH, BNB, and NEXO, would grant cryptocurrency holders the ability to borrow anywhere from $1,000 – $2 million. In case the user requires access to capital, rather than selling their Bitcoin Cash, individuals can lock Bitcoin Cash in the NExo Platform, before retrieving their coins once their loans have been repaid.

All the BCH holders will be able to stake their cryptocurrency as collateral and obtain instant funding in more than 40 fiat currencies.

 

Read more at bitcoinschannel

BlockFi Support Litecoin, GUSD For Crypto-backed Loans

BlockFi co-Founder Zac Prince said in a statement – We have added GUSD and LTC to be used as collateral for crypto-backed loans. This is the company’s first expansion of accepted collateral into top-10 cryptocurrencies. As per the press release – The newly added GUSD option will empower BlockFi to offer loans at any time, and not only during US bank hours. As BlockFi vice president of operations and co-founder, Flori Marquez said – Many parts of the world yet do not have easy access to low-cost credit. With BlockFi support to GUSD, we are looking forward to providing stability to citizens of regions with less stable currencies.

Read more at benzinga.

 

Top Five Crypto Exchanges for Margin Trading

Cryptocurrency exchanges are the web portal that facilitates buying, selling and exchange of cryptocurrencies for other digital currencies or Fiat like USD or Euro. One of the trading strategy widely adopted by veteran traders is Margin Trading. If you are new to Margin Trading and keen to explore the pros and cons, please refer to our previous post. Margin Trading – Everything you need to know and Pros and Cons of Margin Trading.

Our post of today would explore the Cryptocurrency exchanges that allow Margin Trading. Let’s get started –

Top Five Crypto Exchanges for Margin Trading

The listing is based on Coin Market Cap, Top 100 Cryptocurrency Exchanges by Trade Volume. But here the list is exclusive of exchange’s that offer Margin Trading.

OKEx

OKex exchange offers crypto-to-crypto trading and fiat to crypto trading as well. The exchange also offers Margin Trading with a maximum of 20:1 leverage available. Due to the volatile nature, margin trading is limited to 20:1 in crypto markets.

In April, OKex announced adding seven new trading pairs for margin trading, which were –

  • BCH/USDT
  • LTC/USDT
  • ETH/USDT
  • ETC/USDT
  • ETC/BTC
  • IOST/BTC
  • QTUM/BTC

And, just last month in September they introduced EOS tokens on Margin, adding new pairs –

  • EOS/UDST
  • EOS/BTC

Talking about How Margin Trading works on OKex, an individual can buy tokens from OKex, executing positions with three times of his capital. While your potential gain is maximized, so would be your potential loss.

 

Huobi Pro

Huobi Pro, headquartered in Singapore is an international crypto trading exchange is known for its multi-language support and platform. To start trading on Huobi, you need to register with your email ID and submit the documents for KYC; the whole process may take a day or two. Once you have registered successfully, you can enjoy the Margin Trading feature that allows your trade several cryptocurrencies pairs. The platform offers leverage up to 5X in BTC and BCH, LTC, ETH, EOS, OMG, XRP are some of the pair available for BTC.

 

Hitbtc

HitBTC, an exchange based in Estonia has been into operation since 2013. On June 2, 2018, HitBTC launched Margin Trading. In their official blog

HitBTC is launching a dedicated service for margin trading in collaboration with our partner Weltrade.

With this service you will be able to use leverage 1:3, margin trade at HitBTC at any moment, open long or short positions and withdraw money in just 30 minutes 24/7.

To initiate trading, one could visit here, fill the form, open the account, fund it, download the platform and Start Trading.

Bibox

Bibox, an AI-based digital asset exchange that offers a secure, stable and credible exchange service for digital assets such as BTC, ETH,BIX,NEO, EOS. They added Margin Trading support in April 2018. In an official release on the web page they mentioned –

Bibox will open margin trading at 14:00 April 18 (Beijing time) and trading pairs ETH/USDT, BTC/USDT will be included; You can log on the web or PC client to operate, and the feature will be added to the app soon. More pairs will be listed gradually.

Bitfinex

Bitfinex, one of the oldest exchanges in the cryptosphere has been operational from Hing Kong since the year 2014 and serves countries like Bosnia and Herzegovina, Democratic People’s Republic of Korea (North Korea), Ethiopia, Iran, Iraq, Syria, Uganda, Vanuatu, and Yemen.

To get started you would need to register, verify your ID along with the KYC formalities. The whole process could take up to 15-20 days before you could think of login into the platform.

The platform allows an individual to margin trade and get leverage of up to 3.33x.

Our next post would talk about Crypto Margin Trading – is it profitable? Stay tuned.

References

Medium, OKEX Support, Hypes codes, hitbtc, bitcointradingsites, bibox, bibox

 

SALT adds LITECOIN[LTC] as collateral for the Loans

One of the crypto lending platforms from US SALT has added Litecoin [LTC] as the collateral for the loans. SALT or  Secured Automated Lending Technology is a platform offering a blockchain-based loan. In a Twitter update, the firm announced the acceptance of  LTC as collateral for the loans. The firm would also be adding some new features like removing the maximum cap on loan amounts and updating loan solutions for emerging markets.

The platform is offering loans in USD at an interest rate of 5.99% for loans up to $75,000. Loans up to $25 million feature an interest rate of 11.99%. The firm also has a token that was first traded in July 2017. Its user base is also 70,000 worldwide.

Check out their announcement on Twitter.

Read more at bitcoinexchangeguide

Pros and Cons of Crypto Margin Trading

In our last post, we narrated about What is Crypto Margin Trading and Costing of Margin Trade with examples. If you missed our previous post, please check here. In today’s post, we would discuss about Pros and Cons of Crypto Margin Trading.

Cryptocurrency Margin Trading is like availing Home Loan. Just as you can buy a Home worth 50,00,00 with 20% down payment[i.e., 10,00,00] and rest 80% as a loan, similarly in margin trading of cryptos, you can own Bitcoin or Altcoin worth $5000 with just $1000 capital with 5x leverage. The mechanism of holding high worth seems lucrative but has associated risks with it. Let’s take a closer look at the advantages and disadvantages of Crypto Margin Trading.

Pros of Crypto Margin Trading

Margin Trading concept was born in the US and is now accepted widely across the globe. Let’s look at the advantages of cryptocurrency Margin Trading –

Access to High Worth at less Price

One of the most straightforward advantages of margin trade is owning a high worth asset at a lesser price. With Margin Trading a trader could own a digital asset worth of $10,000  by paying $2000 [excludes fees] with 5x leverage.

Larger Gains

If the trader has studied the market proactively and made the right decision to invest in Margin trade, with an upward market trend he can attain profit. Just for example if you have a margin call trade for a digital asset worth $10,000 by paying $5000, if using the leverage of 2:1, you can double your gains.

Cons of Crypto Margin Trading

Every coin has a flip side, so if you thought Cryptocurrency margin trading would only lead to profit and gains, hold on. Margin trading comes with its own set of risk, let’s evaluate –

Borrowing Money To Margin Trade Comes at a price

As a trader, there is no harm in dreaming of owning $1000, $10,000 or even $50,000 worth of bitcoins. With Margin trade it is possible as well, but the initial capital [assuming leverage of 2x] you need to borrow from lenders, you would need to pay interest on that amount. Now, this interest varies from exchange to exchange. Hence when you are calculating your gains, make sure to put in the interest amount you need to pay from your pocket.

Losses Could Be Amplified

Just as we saw gains are multiplied, and a trader could double his profit. Similarly, if the investor has not evaluated all the factors of market risks and cryptocurrency risks, the losses could be augmented.

Risk of Margin Call

Each exchange makes it a mandate for traders to maintain a minimum account balance say for example 25% of the open position. So in cases where the market is sailing in the opposite direction against your predictions, even your balance would fall below the set margin requirement, either you need to add more funds to your account balance to avoid a margin call or else the account would be closed automatically.

To excel in the art of Margin Trading all you need is an in-depth knowledge of cryptocurrency markets and risk management. Margin Trading is a useful investment strategy if applied intelligently could lead to a bigger account balance.

Our next post would talk about different exchanges that allow Crypto Margin Trading. Stay Tuned.

If you liked our post, please follow us on twitter [@getnuo] to get latest updates and insights.

Poloniex to close Margin Trading for US customers, Delists AMP EXP and GNO Tokens.

After the recent acquisition of Poloniex by Goldman Sachs backed circle, the firm [Poloniex] announced that by year-end it would close access to margin trading for clients from the United States. Releasing the statement Poloniex explained explains that these changes are part of its ongoing commitment to ensure it “complies with regulatory requirements in every jurisdiction.”

Poloniex also mentioned about delisting of digital assets – AMP, EXP and GNO tokens.

Read more at finance magnates


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

If you liked our post, please follow us on twitter [@getnuo] to get latest updates and insights.

Expo, offers traders shorting Ethereum, with Margin Trading

Expo offers traders to practice shorting Ethereum with a mechanism of Margin Trading. An open source platform powered by dYdX protocol has launched the trustless method of creating short and leveraged positions for Ethereum.

Expo functions as a “Short Ethereum” token, which is pegged to a short position on Ethereum. The Short Ethereum token is powered by the dYdX protocol, which, in turn, is built upon the 0x and Ethereum projects.

Liquidity is infused in the Expo system by dYdX lending partners, who can earn interest by securing collateral into smart contracts that could also provide backing for ETH loans. The collateral is automatically sourced from decentralized exchanges. The Expo platform is planning to launch some other margin trading tokens including leveraged tokens

Read more at cryptoslate.com

Three reasons why you should avail a Crypto-backed Loan

Loans are the hard reality of our lives. Car loan, home loan, personal loan and the list could go on and on. While all the loans offered by traditional banks are linked to some specific project, crypto-backed loans differ from that. With crypto lending, one could put in his/her digital currency as collateral and ask for a loan in alternative cryptocurrency or fiat for the project they wish for. So once you have secured your cryptos in the digital wallet with a crypto lending platform, and the loan is released you are free to use it as per your wish for buying a car, or home improvement or even putting stuff in business.

Bitcoin loans or blockchain based loans are ideal for individuals who need instant cash in exchange for their valuable cryptocurrency. Listing down few of the other reasons entities could consider to try out crypto loans.

Reasons To Avail Crypto Loans

Effective Crypto Asset Management

Would you like to just let all your hard earned cryptos go away when you are in need of cash? Well, experts recommend that would be not an effective crypto asset management strategy, but you still need extra money. Crypto-backed loans are the answer, a win-win situation where you can get extra money with a promise that you can have all your cryptos back to your wallet.

Instant release of loan amount

Most of the crypto lending platforms release the loan amount [in fiat] directly to borrowers bank account within 4~24 hrs. The whole loan request to loan release process is automated and digitized, making it quick, simple and effective for borrowers who are in dire need of liquidity.

No implications on your credit score

Do you know in India people having less CIBIL score less than 750 gets rejected by banks on their loan request? This is not valid for crypto-backed loans, and also availing a crypto loan does not affect your credit score. So you are free to take a crypto loan and leave the worries about credit score in the dump.

No Paperwork, no documentation, no processing fees, and no credit scores are needed for a crypto-backed loan. Just a handful of cryptos is all you need.


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

If you liked our post, please follow us on twitter [@getnuo] to get latest updates and insights.

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