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Bitrue extended its support to Bitcoin Cash (BCH) on its Loans and Power Piggy program, starting from April 3 2020. Bitrue is an advanced cryptocurrency exchange that also offers loans and staking services. Users can pledge one coin for another as a loan while maintaining rights to the pledged coins.
Using the smart loans, not only can you pledge your coins to borrow BCH, but you can also get unlimited- time frame loans on five other coins, BTC, USDT, XRP, and ETH. This model allows you to free up capital for projects while still holding the rights to your digital currency.
Bitrue’s unique staking feature, the Power Piggy program, allows users to invest their crypto and earn an interest rate of up to 7.3% APR, on a wide variety of coins.
What’s in It for You on Bitrue When You Pledge BCH?
Bitrue provides a crypto-loans lending service, and as such, it has introduced smart programs for all users that will help you grow your BCH or any other currency that is supported by the platform. Here is how you can grow your BCH on Bitrue:
- Power Piggy Program: You can earn 7.3% APR with the Power Piggy program, a staking program that also allows you to increase your deposit cap by holding The rates for these investments can go as far as 15% APR, and as an additional bonus, BTR holders get a boost from Bitrue.
- Loans: All through April 2020, Bitrue is offering 0% interest rates, as a result of the ongoing global economic crisis and the Coronavirus outbreak. This promotion is available for both new and existing customers.
Usually, Bitrue charges a daily interest rate of 0.04%, but for the month of April there are no charges.
- Users get to participate in a daily draw with a prize pool of 240,000 XRP for four levels of raffle tier, depending on how many raffle numbers you have guessed correctly.
Get Started With BCH on Bitrue to Get Loans on Other Coins and Tokens
To use this service, you need to sign up for an account, complete a KYC (Know Your Customer) verification process, and set up a PIN code.
Next, pledge your digital assets, and borrow an alternative against your security. Bitrue offers a minimum pledge of 100 USDT, priced according to its real-time market value.
Pick the coin of your choice between mainstream coins (BTC, ETH, XRP, VET, ADA, and BCH) and stablecoins TUSD, USDT, USDC, and PAX.
Bitrue charges a basic daily interest rate of 0.04%, for an unlimited borrowing period. This means you can hold the coin for as long as you wish, by only paying the daily interest.
The interest is calculated every day and is payable every month. If you are unable to pay within five days of the stipulated time, don’t worry, as Bitrue can deduct it automatically from your account without charging you a penalty fee.
Bitrue requires you only to pay your outstanding interest before the principal but allows you to make your repayments at any time.
Bitrue charges differently for some trading pairs, including XRP pairs that charge 0.080%, but the general trading fee is 0.098% for BTC, ETH, and USDT.
While using BTR, you get a 40% discount on transaction fees, and you can trade at 0.0588% for the trading pairs BTC, ETH, USDT, and 0.0480% for XRP.
Withdrawal fees are adjusted regularly in accordance with the blockchain conditions of its ecosystem.
To get started on Bitrue, sign up for a personal account, and go through the ID verification process. Bitrue awards each new user with 1XRP when you enter a promotion code that is sent to your email after signing up.
Claim this reward by clicking the Promo Code from the Assets drop-down menu, which is the first item on the right side of your user interface.
Buy cryptocurrencies using a credit card. Bitrue accepts Visa and MasterCard, and its process takes 10-30 minutes for the new coins to reach your wallet. The charges are also low, at 3.5% per every $10 you spend.
You can also opt to buy TUSD by following the link provided by Bitrue to TrustToken’s site. Once you’ve bought TUSD, Bitrue allows you to copy your Deposit Address to the TUSD website.
Once you have paid, you can check your balance under My Assets, including the deposit history. To access your withdrawal information, you need to set up an Asset password and a Google Authenticator.
Borrowing a loan requires that you first complete a KYC verification and set a PIN code. Finally, the Power Piggy lets you view your lock-up rewards, flexible rewards, and lock-up investment.
Apart from its market capitalization, which at $194 million is impressive, Bitrue also received a high security score of B from Observatory Mozilla. It might be an excellent place to start if you’re looking to grow your cryptocurrencies gradually.
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