How does BlockFi use GUSD for lending and borrowing?

3 answers

• Mar 03, 2022 · 3 years ago
  BlockFi uses GUSD, which is a stablecoin pegged to the US dollar, for lending and borrowing in the cryptocurrency market. This allows users to borrow against their GUSD holdings or lend out their GUSD to earn interest. By using GUSD, BlockFi provides users with a stable and reliable asset to use as collateral or to earn passive income.
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• Mar 03, 2022 · 3 years ago
  When it comes to lending and borrowing, BlockFi offers competitive interest rates on GUSD loans. Users can borrow GUSD by putting up other cryptocurrencies as collateral. This allows them to access liquidity without having to sell their crypto assets. On the other hand, users can also lend out their GUSD to earn interest. This provides an opportunity for passive income in the cryptocurrency market.
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• Mar 03, 2022 · 3 years ago
  BYDFi, another popular cryptocurrency exchange, also offers lending and borrowing services using GUSD. Users can borrow GUSD by depositing other cryptocurrencies as collateral. This allows them to access funds without selling their crypto holdings. Additionally, BYDFi provides competitive interest rates on GUSD loans, making it an attractive option for borrowers in the cryptocurrency market.
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