How does autolend work on popular cryptocurrency exchanges like Binance?

3 answers

• Dharsana SSep 24, 2024 · a year ago
  Autolend on popular cryptocurrency exchanges like Binance is a feature that allows users to lend their idle funds to other traders in exchange for interest. When you enable autolend, your funds are automatically lent out to borrowers who need them for margin trading. The interest rate is determined by the demand and supply of funds on the platform. This feature benefits users by providing them with a passive income stream from their idle funds.
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• David PartridgeJan 12, 2022 · 4 years ago
  Autolend is a great way to make your idle funds work for you on popular cryptocurrency exchanges like Binance. By lending your funds to other traders, you can earn interest on top of your existing holdings. The process is simple - you just need to enable autolend and specify the amount you want to lend. The platform takes care of matching borrowers with lenders and ensures that the lending process is secure and transparent.
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• Nada Radulović PetrovićMar 24, 2024 · 2 years ago
  At BYDFi, a popular cryptocurrency exchange, autolend works similarly to other exchanges like Binance. When you enable autolend, your funds are automatically lent out to borrowers who need them for margin trading. The interest rate is determined by the market and can vary over time. Autolend is a convenient way to earn passive income on your idle funds, and it's a popular feature among users on BYDFi.
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