As liquidity in the crypto market has dried up over the past year, cryptocurrency exchange BitGet will allow users to stake their coins in exchange for a loan in another.
In a move that particularly targets their audience dissatisfied with traditional lenders, the platform’s loan program highlights the flexibility of collateralized currency usage. The novel approach to crypto loans is set to not only revolutionize the way investors manage their assets but also to provide a unique solution to the crypto market’s liquidity challenges.
The new product allows users to obtain loans by staking less-demanded coins in exchange for more liquid assets for investment purposes. In effect, the loan program helps borrowers grow their investment portfolio beyond their current assets.