The loan program launched on Binance on August 28th proved to be a success, and the company announced it would extend it this week. Starting September 20, three new private cryptocurrencies will be available – Monero (XMR), Zcash (ZEC) and Dash (DASH).
Phase 5 of Binance Lending begins September 18 and includes Binance Coin (BNB), Bitcoin (BTC), Ether (ETH), Ethereum Classic (ETC) and Tether Cryptocurrency (USDT).
The lending products will have a fixed term loan period of 14 days, and the interest rates will vary depending on the cryptocurrency. According to the announcement, all private cryptocurrencies will have the same annual interest rate of 3.5%, while for BTC the interest rate is 3%.
Entries begin on September 18-19
Those interested in participating in the program must register for September 18-19 for BNB, BTC, ETH, RTC and USDT. For XMR, ZEC and DASH.
For each type of cryptocurrency, Binance has set a maximum registration limit, and in the previous stages it was covered in a few minutes.
Interest in Binance Lending is apparently high, as it provides an easy way to make profits from cryptocurrencies. Unlike trading, cryptocurrency loans do not require the attention of users and interest is paid regularly.
It remains to be seen whether the revitalization of altcoins will have an impact on the program – in recent days, most cryptocurrencies have begun to record price increases, which offers new opportunities for speculation.
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