Lending has changed forever!
in To lend
Many believe that the money earned from the work is only as rewarding as the effort we put into the work. However, when it comes to making money “work” for us, it undeniably always feels rewarding. That is probably why many ways are being invented to allow people to make money with your digital token. With cryptocurrencies, one of the ways to make money from your digital tokens is by borrowing.
Lending is one way that you can make use of available funds by providing it to traders to open a margin position in exchange for interest. In general, lenders can set the conditions that make them feel most comfortable, such as the yield, duration, and amount, before lending their money to merchants. While this is a fairly simple concept, users must set aside a certain amount of time when they want to offer their money and maximize their returns.
Bitfinex stepped up and became one of the few exchanges offering an option to risk-averse users. And we didn’t stop there! We feel motivated to save time managing the funds available for your lending. That’s why we’re taking our lending function to the next level with Bitfinex Lending Pro.
Bitfinex Lending Pro – Next level loan for Bitfinex’s margin trading market
Bitfinex Lending Pro is an advanced tool that allows you to set up automated strategies and interact with our peer-to-peer credit market. It is designed to make your lending more comfortable and efficient.
Bitfinex Lending Pro is equipped with advanced features that provide users with the benefits of automation, which undoubtedly saves a lot of time and effort. In addition, the Lending Pro tool is rich in settings and algorithms that allow lenders to implement their strategies by offering and expanding Lending Pro loans on their behalf in our peer-to-peer marketplace. Lending Pro also offers new tools and useful statistics.
For starters, Bitfinex Lending Pro is not a tool for everyone as it is highly customizable and configurable.
The settings panel allows you to easily set different configurations for each currency. To enable the automation feature, enable the automation tool and choose from the available settings, such as loan modes – Dynamic, Fixed, or Market.
In dynamic mode, Lending Pro will renew an offer on your behalf, which will be replaced over time with offers at lower rates until it matches or market conditions change by a certain amount from the time the original offer was placed. While in Fixed mode, Lending Pro will renew a bid on your behalf, that will be replaced if market conditions change by a certain amount from when the original bid was placed.
Bitfinex Lending Pro is also equipped with a calculator to make your lending experience even better. In addition to the loan calculator, which allows you to calculate the potential return you would earn for any available currency, there is also the UNUS SED LEO discount calculator. The LEO discount calculator will show you how much discount on the trading fees you would get for each amount of UNUS SED LEO token you own.
The Tickers tab in the top left side panel shows the currency list along with rates and 24 hour volume. On the panel you can switch between the Rates and Pro tab.
The Rates tab shows the current market rates or the last negotiated rates and the rates calculated by Lending Pro based on their settings. In the Pro tab, lenders can see all of the currencies they have enabled for loan, along with what is happening with each of the currencies.
Each tab has setting gears, allowing you to set your preferences for all of your crypto and fiat currencies.
Tracking credit performance is made easier with the Loan Performance widget. For each currency in your financing portfolio, you will find useful information such as your available and total balance, average interest for all open loans, average period for all open loans, the percentage of your wallet that has been used and the loan pro status for that currency.
On the Distribution widget, in the Amount tab, you will find a visualization of the total amount you have per fiat and digital currency, grouped by the rate at which it was loaned. On the Period tab you will find a visualization of your loans grouped by the period in which they were offered, and finally on the Rate tab you will see a visualization of the number of outstanding loans grouped by rate. Each of the bars in these graphs can also be moved to provide more in-depth information.
Bitfinex Lending Pro also collects and displays useful statistics related to your lending activity; these statistics include your best, average and worst loan rates, your total number of loans issued and their value, your most active loan currency for the day, the total amount of assets managed by Bitfinex Lending Pro for that day. You will also find statistics for your earning activity; these include your average daily income, your highest-performing loan currency of all time, second place to the very best currencies and information on how long you have been lending.
The Balances widget contains all your balances from your financing portfolio; these can be displayed in a list or pie chart format; you will also find the present value of your funding balances in USD.
Below that you will find the Today’s Earnings widget, this widget shows your earnings for the current day in table format. In each row you will find the number of units you have earned that day, as well as the value for those units in USD, at the bottom you will find a calculated total value for that day.
Changing the way we do things is never comfortable. We seize that opportunity with Bitfinex Lending Pro to give you the best experience possible. After all, it has always been Bitfinex’s desire to build a transparent and scalable infrastructure of innovative financial products that are accessible to everyone.
Lending Pro is strictly an order routing system that implements loan offers and extensions on behalf of a user in the peer-to-peer lending marketplace on Bitfinex. Lending Pro cannot assess a user’s personal investment criteria and circumstances. Nothing in this post constitutes financial, investment or other advice. Nothing in this post constitutes an offer to make or accept loans or solicit, recommend or endorse a course on how to make or receive loans. Any references in this post to returns are hypothetical only and not guaranteed.