Collateral Lending is a digital currency loaning service launched by Hoo.com. With a fast granting speed, this service helps to solve your capital problems in time. The borrower gets the loans by staking their digital assets with a daily interests of 0.02% to 0.1% and an annual interests of 7.3% to 36% (There are different interests for different coins). More than 20 coins are supported such as USDT, BTC, ETC, EOS, BNB, HT, LTC, BCH etc. (Please view it in “Management”).
Use cases of Hoo Collateral Lending
1. Borrow digital currencies and convert them to fiat currencies to meet your cash flow needs
2. Borrow the native token of mainstream exchanges to participate in their IEO
3. Sell short or hedge by via collateral lending
4. Borrow assets for margin trading or bottom fishing
Features of Hoo Collateral Lending
1. Safe. Minimizing the risk of attack by utilizing the cold wallet solution of an enterprise level
2. Multiple choice. Various mainstream digital assets are available to lend
3. Efficient. The loans will be granted in a minute with low and transparent service fees
4. Flexible. There are different installments to choose. Users can also repay in advance.
How does it work?
1. Open Hoo.com APP
2. Go to “Lending” in the “Wallet” page
3. Select the coin to borrow, enter and amount and click “Instant Borrowing”
4. Select the borrowing days, re-check the details and click “Borrow Now”
5. Enter the trading password
6. Wait for the system to transfer the coins to your wallet account
Notice
1. Collateral Lending is available only on APP
2. Your assets in the Financing or Wallet account will be locked as a deposit which will not be available to trade or transfer before settling the repayment. The assets will be unlocked once you repaid the loans.
3. Be aware of the closing out. Please keep an eye on the position of your account or it will be forced to close out (Closing line: staked assets/lending assets=110%). The system will deduct your staked assets to repay the loan when you reached the closing line. The lending contract will be closed when the assets are deducted. Users do not need to repay and the locked assets will not be returned to them.
4. Please repay in time. You have to pay 5% of the loans per day as a penalty. To repay in advance, you have to be charged with one extra day of interests as penalty.
