Most crypto holders face the same dilemma: should I sell to access cash, or hold and potentially earn nothing? Figure provides compromises for both, and even adds a $50 bonus for new users who deposit $500.
The platform currently offers two financial products that were traditionally limited to banks and institutional investors. Users can either earn up to 8.5% yield on their crypto via Democratized Prime or borrow cash by taking out Crypto-Backed Loans with an interest rate starting at 8.91%.
Earn Up to 8.5% on Your Crypto
Democratized Prime is a decentralized lending marketplace. It lets you lend your crypto or USD and earn returns of up to 8.5%. You set the rate you’re willing to lend at, and once it’s matched with a borrower, you start earning hourly.
Every loan is fully backed by crypto or real-world assets, such as home equity loans, and is secured on the blockchain. You can see exactly what’s backing your money at any time.
Here’s what you need to do to get started:
By the way, Figure adheres to SOC 2 and ISO 27001 standards, ensuring strong security across the platform.
Borrow Cash Without Selling Your Crypto
If you need liquidity, Figure’s Crypto-Backed Loans let you borrow cash against Bitcoin
Available interest rates for Figure’s Crypto-Backed Loans are 8.91% at 50% LTV or 11.50% at up to 75% LTV.
Your crypto stays in decentralized MPC custody, held in a secure, segregated wallet that only you can see and verify. Besides, optional protection against forced liquidations and margin calls is available for an extra fee.
The process takes just three steps:
All in all, Figure’s products suit two types of crypto holders. Those who want their assets to generate income while they hold, and those who need cash but don’t want to sell their crypto.
If you’re either of those, register on the Figure Markets app now, deposit $500 in crypto within 30 days after account creation, and get your $50 bonus!
This is a third party-distributed Press Release, BitDegree is not responsible for any content or related materials, the advertising, promotion, accuracy, quality, products or services on this page. Before making any decisions or taking any actions, readers are advised to do their own research, first. BitDegree is not liable nor responsible for any direct or indirect loss or damage related directly or indirectly to the use of any products, services or content in the Press Release.
