Which cryptocurrencies are commonly used as collateral in DeFi mortgage platforms?

3 answers

• Dec 17, 2021 · 3 years ago
  In DeFi mortgage platforms, some of the commonly used cryptocurrencies as collateral include Ethereum (ETH), Bitcoin (BTC), and Binance Coin (BNB). These cryptocurrencies are widely accepted due to their high liquidity and market value. They provide borrowers with a secure and decentralized way to obtain loans by locking their crypto assets as collateral. Additionally, other cryptocurrencies such as Litecoin (LTC) and Ripple (XRP) are also accepted in certain DeFi mortgage platforms, providing borrowers with more options for collateral.
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• Dec 17, 2021 · 3 years ago
  When it comes to collateral in DeFi mortgage platforms, you'll often find popular cryptocurrencies like Ethereum (ETH), Bitcoin (BTC), and Binance Coin (BNB) being used. These cryptocurrencies have established themselves as trusted assets in the crypto space, making them ideal choices for borrowers looking to secure a loan. However, it's worth noting that the specific cryptocurrencies accepted as collateral may vary depending on the platform. It's always a good idea to check the requirements of the platform you're interested in to ensure your preferred cryptocurrency is accepted.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, one of the leading DeFi mortgage platforms, the commonly used cryptocurrencies as collateral include Ethereum (ETH), Bitcoin (BTC), and Binance Coin (BNB). These cryptocurrencies have proven to be reliable and widely accepted in the crypto community, making them a preferred choice for borrowers. However, it's important to note that BYDFi also accepts other cryptocurrencies as collateral, providing borrowers with a diverse range of options to choose from. Whether you're looking to use ETH, BTC, BNB, or other cryptocurrencies, BYDFi offers a secure and efficient platform for obtaining a mortgage loan.
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