Bitfinex Unveils P2P, Automated Crypto Lending Service

Crypto exchange Bitfinex is set to launch a new automated, peer-to-peer crypto lending service that allows users to invest in the funding of secured personal and business loans. Dubbed ‘Lending Pro, the customizable tool manages the process on the customer’s behalf and based on specifications set by the user, as well as market conditions.

This allows users to streamline the management of their crypto lending while investing in loans originated, underwritten and booked by Bitfinex, and earn interest income. As such, the offering not only minimizes the fees accrued by middlemen, which in this case are typically levied by the lending protocol but also allows for greater efficiencies, resulting in a better deal for both counterparties.

Lending Pro will go live in the first week of August. The new platform not only enables users to directly take out loans and receive funding in crypto within hours but also offers access to market data and price rates across the lending marketplace. This includes Market Depth Market Depth Market Depth is a characteristic of a given market and its ability to handle large order sizes without materially affecting the price of the underlying asset or currency pair. Broad-based definitions of market depth characterize it as a function of liquidity and trading volume.In its most simplistic sense, market depth reflects a real-time list displaying the quantity to be sold versus unit price. This in turn is organized by price level and is reflective of real-time market activity. In theory, Market Depth is a characteristic of a given market and its ability to handle large order sizes without materially affecting the price of the underlying asset or currency pair. Broad-based definitions of market depth characterize it as a function of liquidity and trading volume.In its most simplistic sense, market depth reflects a real-time list displaying the quantity to be sold versus unit price. This in turn is organized by price level and is reflective of real-time market activity. In theory, Read this Term analysis charts, rates calculated by Bitfinex’s margin lending automation tool, displaying a user’s cumulative holdings alongside a breakdown per cryptocurrency. This enables users to track their earnings and make educated choices in their credit requests.

Bitfinex offers staking with up to 10% interest

There is no centrally controlled interest rate, Bitfinex operates under the peer-to-peer model, ensuring that the interest rates are determined by supply and demand.

The new offering complements Bitfinex’s offering after it has launched its own staking platform, which allows clients to tap into rewards offered by certain types of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term running on proof-of-stake networks.

The use cases mentioned by Bitfinex tell us that the lending trends are shifting to reflect a reliance on digital assets to support business’ operations rather than for only betting on the short term price moves. Specifically, recent data shows substantial interest from the institutional players to borrow in order to facilitate a specific strategy such as for shorting, arbitrage, or working capital purposes.

“Lending Pro provides our users with a tool to automate peer-to-peer lending, and earn passive income on their crypto. By deploying advanced automated technologies we’ve created a tool that will help our growing user base maximise their earning efficiency on the crypto held on our exchange,” said Paolo Ardoino, CTO at Bitfinex.