How do origination fees on cryptocurrency loans work?

3 answers

• Dec 17, 2021 · 3 years ago
  Origination fees on cryptocurrency loans are charges that borrowers have to pay when they take out a loan. These fees are typically calculated as a percentage of the loan amount and are charged upfront. The purpose of origination fees is to cover the costs associated with processing the loan application and setting up the loan. Different platforms may have different fee structures, so it's important to compare fees before choosing a lending platform.
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• Dec 17, 2021 · 3 years ago
  Origination fees are usually a one-time fee that borrowers have to pay when they take out a cryptocurrency loan. The fee is calculated based on a percentage of the loan amount and is deducted from the loan proceeds. It's important to note that origination fees are separate from interest rates, which borrowers also have to pay on their loans. The specific fee structure may vary depending on the lending platform, so it's a good idea to read the terms and conditions carefully before borrowing.
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• Dec 17, 2021 · 3 years ago
  When it comes to origination fees on cryptocurrency loans, BYDFi has a transparent fee structure. The origination fee is a one-time charge that is calculated as a percentage of the loan amount. This fee is deducted from the loan proceeds, so borrowers receive the loan amount minus the origination fee. It's important to note that the origination fee is separate from the interest rate, which is also charged on the loan. BYDFi's fee structure is designed to be competitive and fair, providing borrowers with a clear understanding of the costs associated with their loans.
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