Per a report from the Cambridge Center for Alternative Finance (CCAF), fossil fuels have been the primary energy source for BTC mining since the start of the year. The CCAF recently updated its Cambridge Bitcoin Electricity Consumption Index (CBECI). Its study claims that 62% of all the energy the leading token has consumed so far consists of coal-based energy. BTC’s Energy-Intensive Mining Bitcoin employs the proof-of-work consensus mechanism to create new tokens and validate transactions on the blockchain. The PoW…
- Leading financial services platform Bitrue has lowered the interest rate on their loan service to 5.84%
- This announcement is in line with Bitrue’s mission to level the financial playing field by offering liquidity and improved rates on crypto loans
- The company is committed to function as a one-stop platform for crypto services
On June 2, 2020, Singapore-based exchange Bitrue announced the launch of its latest crypto lending service that allows users to pledge their cryptocoins to receive loans in BTC, XRP, ETH and USDT. Loans will be provided at a reduced interest rate of just 5.84%.
The launch of the latest product comes just weeks after Bitrue announced a partnership with Legend Trading which will enable the leading financial services platform to offer fiat Over the Counter (OTC) services for users worldwide.
This feature, along with today’s low-interest lending service, is just the latest in a series of innovative services provided by Bitrue, who are committed to bridge the emerging crypto markets with the traditional financial services sector.
Bitrue Fosters Seamless Crypto Trading
Today’s announcement launches a premium lending service that will become available to ordinary users, in accordance with Bitrue’s mission to level the financial playing field.
Users on the platform will enjoy the same level of security, liquidity and competitive interest rates given to institutional investors.
According to Curis Wang, CEO of Bitrue, getting started with crypto trading is often a stressful procedure where users are left wondering if their funds are secure. To provide a smoother user experience, the Bitrue exchange offers a secure and dependable fiat trading platform, as assets don’t leave the exchange during the crypto purchasing process, enabling Bitrue to constantly monitor every step of the purchase and settlement.
Crypto-backed loan services are part of a comprehensive suite of existing offerings provided by Bitrue, which includes investment opportunities, fiat OTC services and trading on cryptocurrencies.
Bridging Traditional Financial Services to Crypto Markets
Bitrue is revolutionizing the crypto sector by adapting traditional financial assistance to the growing crypto space.
Leading financial services platform has a close relationship with Ripple (XRP), with whom they share a vision regarding the potential of digital assets, and has become one of the top exchanges within the XRP community.
Bitrue remains committed to providing financial inclusion to all via its low-interest crypto lending platform. The company has become a one-stop platform for crypto traders around the world with the latest addition of fiat purchases.
Just last year on September 30, the company revealed and subsequently launched a service that allows users to take $100-minimum loans on various crypto tokens such as XRP, USDT, and ETH at industry leading rates.