Categories: Bitcoin Business

OKCoin Now Offers P2P Lending to International Users

Click here to view original web page at www.coindesk.com
OKCoin's new one-screen Futures interface

OKCoin.com, the international arm of China's OKCoin, has introduced a peer-to-peer (P2P) lending system it says will increase liquidity on its spot market and provide low-risk interest returns for users willing to loan their coins to traders.

It is the first time all OKCoin's users around the world will have the opportunity to access the lending feature. Traders can choose loans at their preferred interest rates, and are offered 2.2x to 3x leverage depending on their 'VIP level'.

OKCoin has previously deployed the lending system on its Chinese OKCoin.cn site, and says there has been a waiting list for loans. It hopes P2P lending will, as well as build USD spot market liquidity, encourage yet more bitcoin trading on the already high-volume exchange.

It is similar to those available on other exchanges in the region, such as BitVC and Quoine, although BitVC's system works with fixed interest rates.

User-set conditions

The lending market automatically matches borrowers to the most suitable loan conditions, satisfying both parties. Users have the ability to set and choose their own interest rates and a duration of three to 360 days.

All funds available for lending are provided by other users; the company does not make any of its own funds available, and it does not provide a guarantee against default.

An OKCoin spokesperson told CoinDesk that while defaults on such loans is "exceedingly rare", there is an option for lenders to take out insurance against this at a charge of 10% of interest earned.

New Futures trading interface

In addition to the new lending features on the spot-price market, OKCoin has added a full-screen trading interface (above) to its BTC and LTC Futures platforms. The new design has click-to-populate orders and displays complete trading position and market information without having to leave the page.

The fully interactive interface also offers a suite of drawing tools and numerous indicators for in-depth market analysis, as well as a choice of light/dark themes and various chart styles.

OKCoin says both the P2P lending features and interface upgrades are part of its "aim to develop a seamless trading experience, with a strong focus on transparency and visibility of information for all traders".

Launched in July 2014, OKCoin.com is the company's Singapore-registered USD exchange. OKCoin itself is China's largest exchange by trade volumes, and has received over $10m in venture funding from such investors as Ceyuan Capital, Venture Labs and Tim Draper.

It is the first time all OKCoin ‘s users around the world will have the opportunity to access the lending feature. Traders can choose loans at their preferred interest rates, and are offered […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Tim Draper: $250,000 Falls Short of BTC’s Potential

Tim Draper has made a real name for himself in the world of crypto given his consistent bitcoin price predictions… Read More

6 hours ago

Steve Schwarzman: I Don’t Have Much Interest in Crypto

As the CEO of investing firm Blackstone, CEO Steve Schwarzman says that he’s used to a world where currencies are… Read More

6 hours ago

Volatility for Bitcoin Hits Four-Month Low

At press time, you may not think bitcoin is doing much… And you’d be right. In fact, the currency has… Read More

6 hours ago

ECB Revives Plans for a Rival Coin to Libra & Bitcoin

Facebook feels the heat as the European Central Bank reels out plans to create a digital currency rivaling Libra and… Read More

6 hours ago

HyperCapital Announces Exciting Plans To Build The World’s Strongest Blockchain Community Alliance and Ecosystem

HyperCapital Hong Kong Community Meetup Event Hyper Capital announced the formal recruitment of 300 nodes to jointly promote POAR (Proof… Read More

6 hours ago

US Bookie Found Dead 1 Year After Wife Paid $1 Million Bitcoin Ransom

An American bookmaker kidnapped in Costa Rica has been found dead, even after a ransom of $1 million was paid… Read More

6 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More