How is the APR calculated for cryptocurrency loans?

1 answers

• Sadık Mert DincelDec 05, 2024 · 9 months ago
  At BYDFi, the APR for cryptocurrency loans is calculated using a formula that takes into account the interest rate, the loan term, and any additional fees. The interest rate is typically expressed as an annual percentage, and it represents the cost of borrowing the funds. The loan term refers to the length of time the borrower has to repay the loan, which can vary depending on the specific loan agreement. Additional fees, such as origination fees or late payment fees, are also factored into the APR calculation. BYDFi aims to provide transparent and competitive rates for cryptocurrency loans, and the APR calculation helps borrowers understand the overall cost of borrowing. It's important to note that the APR may vary depending on market conditions and individual borrower profiles.
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