Home Altcoins News Paolo Ardoino of Tether (USDT) stated ~100M was Borrowed from Bitfinex in the Last 30 days

Paolo Ardoino of Tether (USDT) stated ~100M was Borrowed from Bitfinex in the Last 30 days

Tether Bitfinex

Paolo Ardoino Stated:  “Lot of people get excited for crypto exchanges debit cards and Finex is definitely working on that. But I believe that Bitrefill covers already many day-to-day use cases: groceries, amazon cards, app/play store, travels, and gasoline.  And, it’s definitely privacy oriented.”

User response was like:  They are great, been using their services for years. All cards worked without issues. The only missing cards are the Visa prepaid (some competitors have). Other than that, fantastic.

Users opined that BitFinex should be adding Algorand as one of the fastest, secure and scalable blockchain. The project are incredible, the community is very engaged and the team is awesome.  I want to be able to spend $10,000+ with a crypto debit card. Let’s say at a Rolex store. I know I can order it online but why wait when I can just purchase it with a debit card through USDT.  In response, Paolo stated:  Sure. We’re working on that. Just saying that Bitrefill is a really good complementary solution.

When someone tried to make fun of BitFinex stating:  “I THINK bitfinex is built into the sea, given all the whales in it.”  Paolo stated, Finex has the best plankton. Further added, “Pun not intended. Too much David Attenborough for me today.”

For those who do not know:  Bitfinex Borrow is a peer-to-peer (P2P) platform that permits users to borrow funds from other users, providing cryptocurrency assets as collateral.  Bitfinex works like the facilitator of the technology, which enables borrowers and lenders to transact with each other. Bitfinex Borrow permits borrowers and lenders to experience the transparency of P2P along with other benefits like high rewards and the flexibility it has to offer.

Borrowers do not have limitations on how they are to use the funds, which they get through Bitfinex Borrow. It is possible for them to set the loan duration and interest terms to suit their needs and situation. All of these are after the borrower fulfills eligibility norms.

The amount which can be borrowed depends upon the type and the amount of collateral available in the account of the borrower with an overall limit of $250,000.

The Loan Calculator helps decide the amount of loan that a borrower can avail.  Paolo pointed to how ~100M was borrowed from Bitfinex in the last 30 days.

Someone asked a serious question:  Do you guys realize that Bitconnect is currently facing litigation by the SEC because the “products” they offered constitute securities. You realize it is illegal to be offering this to consumers in jurisdictions where it’s necessary to be licensed to do so?

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Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

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