What is Binance Loans? - Detailed Guide 🧵

Binance Loans is a service that allows users to borrow money via the Binance platform by using their crypto assets as collateral. Thanks to this service, investors gain liquidity without having to sell their assets.

I am sure that it will be a lifesaver for sudden liquidity needs and will benefit many people.

1) Log in to your Binance account and go to the [More] - [Loans] section.

2) Search for a coin using the filter and then click the [Borrow] button next to it.

3) Select a loan type and enter the amount you want to borrow. Then specify a collateral. The system will automatically calculate the collateral amount according to the initial LTV (Loan-to-Value Ratio). You can also see the estimated hourly interest rate and liquidation price.

Read the Terms and Conditions, check the box indicating that you accept it. Then, click the [Start Borrowing] button.

4) In the last stage, you will see a pop-up screen confirming the loan transaction.

Thanks to Binance Loans, you can add many different strategies to your trading style. In addition, you can meet your liquidity needs without leaving the Central Exchange.

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