WhaleLend to rollout crypto-to-crypto conversion feature on their platform!
Since Icebreaker.vc’s initial investment in WhaleLend back in Q1 of 2018, the company that is dedicated to becoming a long-term, leading player in the cryptocurrency community has been adding features to their services steadily. In the crypto-sphere, if you don’t find a way to innovate, you will be left behind in the notoriously fast moving industry. And that is something that the team at WhaleLend understands very well. With this is mind, the founders took it upon themselves to find out what new features they could bring to their users. What better way to do that than by asking the userbase themselves; one which has seen considerable growth in 2019.
After combing through the received suggestions from the WhaleLend users, the team realized that a majority were craving for one specific thing. After internal development and testing, WhaleLend is now excited to announce to you their latest feature; Crypto-to-crypto conversion!
What is crypto-to-crypto conversion and how does it add value for the user?
To put simply, crypto-to-crypto conversion involves exchanging one cryptocurrency for another. The problems WhaleLend’s crypto-to-crypto conversion features aims to tackle arise from the volatility in the crypto lending market. For example, since different cryptos lending rates do not correlate all that much, a user could easily end up watching an interest rate spike of +80% p.a. (per annum) return of one token goes by, just because this user did not have that token at that specific point in time.
They have developed the crypto-to-crypto conversion feature to tackle this issue directly.
WhaleLend promises a plethora of benefits from using their platform with the addition of the crypto-to-crypto conversion feature. These benefits include:
- Capturing interests rate spikes across different tokens.
- Instant conversion of tokens.
- Zero fees for users in terms of exchange transaction fees, deposit and withdrawal fees, plus the risk of crypto price fluctuation during the transaction time span, etc.
- Simplicity; with just three clicks a conversion can be complete.
- Market competitive rates will be selected and suggested to users on the platform.
WhaleLend believes crypto-to-crypto conversion on their platform will be a great tool for users as they will no longer need to move assets off of WhaleLend’s platform to do the conversion, which in turn, saves both time and money.
About WhaleLend
WhaleLend is a company dedicated to becoming a long-term, leading player in the cryptocurrency community. Their first product is aimed towards individuals or institutions looking to earn passive income on their cryptocurrency assets, which may be sitting idle in their wallets. It is also perfect for investors looking to earn returns from the cryptocurrency market, who do not want to take the risks that come with buying cryptocurrencies directly.
WhaleLend deploys your capital to the lending markets into the cryptocurrency market, which traders can borrow. Interest is then paid on the borrowed capital. It is an advantageous situation for WhaleLend users, as their capital is protected even if the cryptocurrency traders lose everything. Your investments through WhaleLend are known as “collateral” in financial trading, and remain safe, thanks to a mechanism known as “margin lending”.
WhaleLend’s core team currently consists of CEO, Yichen Wu, COO, Ilkka Salo and Lead Engineer, Phuc Tran. They have backgrounds working with BCG, Morgan Stanley and Clifford Chance LLP, and though they describe themselves as different people at different stages of life, they all live by the motto “Living means leaving traces.”
They aim to keep their methods simple and are the first company and service to whom you can deposit your cryptocurrencies, earn daily interest, and withdraw funds at will. Currently, WhaleLend is working on launching several new products in 2019.
For more information about WhaleLend and their services, please consider visiting their website.
