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What is BingX Loan
BingX Loan is a financial service that offers user funds to meet short-term liquidity needs. With this service, you can borrow funds without selling your cryptos. By pledging your crypto and paying interest, you can borrow hot tokens like BTC, ETH and XRP, or stablecoins like USDT and USDC.
Advantages
Ultra-Low Interest Rates: Enjoy competitive ultra-low interest rates with hourly interest calculations and the flexibility to repay anytime.
Flexible Allocation: Borrowed funds can be used for various platform features such as Spot Trading, Futures Trading or Wealth product subscription. You can also withdraw the borrowed funds for use outside the platform.
Example Scenario
User A holds a BTCUSDT long position in Perpetual Futures and also has ETH Spot assets.
If the BTCUSDT price drops and there is insufficient margin for the Perpetual Futures position, User A can pledge their ETH Spot assets to borrow USDT. The borrowed USDT can then be transferred to the Perpetual Futures Account to increase the margin and prevent liquidation.
When the BTCUSDT price increases, User A can transfer the USDT from the Perpetual Futures Account to the Fund Account to repay the borrowed principal and interest.
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