Finally you can receive loans on Biterest in USDT without any KYC against your pledged Bitcoin collateral
Tether (USDT) stablecoin as a new currency to receive and repay loans
Our Biterest team has launched ERC20-based Tether (USDT) stablecoin as a new currency to receive and repay loans. Now you are able to get loans in USDT without any KYC against pledged Bitcoin collateral on Biterest. If you believe that BTC price will increase in value in the future, unlock the value of your holdings with USDT without selling BTC.
Depending on the country where you are in, getting a loan in USD might require you to go to a bank and spend your valuable time filling up forms. However, with USDT you can exchange it to your local currency in as little as 5 minutes.
Apply for your first loan on Biterest DEMO
Try your hand with virtual 1 BTC collateral to receive a bitcoin-backed loan in a demo-mode. There’s nothing quite like testing it for yourself.
USDT coin combines the best of the crypto and fiat in itself:
Stability: USDT is pegged to USD
Fast and easy: Great medium of exchange for day to day transactions
Borderless: Widely accepted around the globe by organizations and individuals that support cryptocurrency
Cross-platform transfers: Withdraw USDT to other exchanges and convert to your local fiat currency
How to start borrowing?
Log in to your Biterest account and top up your balance with Bitcoin collateral.
After that put the amount of USD you want to borrow, choose USDT as a currency to receive, specify your USDT address, and press the “Apply for a loan” button.
There are no restrictions on the term length or the amount of your loan. The only things is that the maximum amount you can borrow based on your available collateral (BTC balance). Your collateral has to be +20% more than the loan amount.