of the world The largest cryptocurrency exchange Binance has launched its service called “NFT Loan”, where users can borrow Ethereum (ETH) in exchange for certain NFTs.
Binance has launched NFT lending, a service where users can borrow in ETH in exchange for certain NFTs. Among the NFT projects to be supported in the first phase of this service Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), azuki took place.
Users can upload their NFTs to the platform as part of this service. on a temporary loan up to a certain amount of Ethereum in exchange they can borrow.
Binance’s NFT Loan Looking at the details on the page that includes the service, NFT loans current interest annual rate of 7.91% And credit rate whereas 40% with 60% appears to vary between These rates vary depending on the NFT project being loaned. On the other hand, in the process of NFT lending transactions No transaction fees will be charged..
Users can borrow money for each project. Ethereum amount of if the limitation is located. BAIC Maximum amount of ETH that can be borrowed for NFT lending service total 4,500 This amount is determined as 4,475 ETHPart of it has been used from day one.
NFT lending service is the new actor of the market at the beginning of this month Blur implemented by the community big interest had seen.
