How Do I Apply for a Long Term Loan from CoinRabbit?

CoinRabbit is a platform for cryptocurrency lending that allows users to find loans for dozens of different cryptocurrencies. You can quickly and easily get a loan on CoinRabbit without needing a credit check. If you want a crypto loan, even a long-term crypto loan, read on. This article will show you how to get one from CoinRabbit.

CoinRabbit Loan Conditions

The reason that CoinRabbit can offer quick loans without credit checks and interviews is that it requires you to put down some collateral for your loan. This collateral must be in the form of one of the 91 coins CoinRabbit accepts. You will need collateral twice the amount of the loan you are applying for.

Say, for example, you are trying to borrow USDT, a stablecoin pegged in value to the dollar, and you have ETH to put down as collateral. Say, also, that 1 ETH is worth $20,000 and that you put down 1 ETH as collateral. You would then be able to get a loan of $10,000 worth of USDT.

The minimum amount you can deposit as collateral is $100. There is a $100 fee if you pay off your loan within 30 days of getting it.

Borrowing Crypto on CoinRabbit

To get a long-term crypto loan from CoinRabbit, just follow the following instructions:

1. Go to the CoinRabbit home page.
2. Locate the Savings and Loan tool under the nav bar at the top of the page.
3. Click on the Savings tab.
4. Enter the amount of crypto you want to deposit as collateral.
5. Select the coin the deposit will be made in.
6. Click on the Start Earning button.
7. Enter your email address or phone number.
8. Click on the Verify button.
9. Enter the code you are sent.
10. Click on the Confirm button.
11. Enter the address of the digital wallet you will use to make the deposit and follow any further instructions you are given.
12. Go back to the home page.
13. Click on the Loans tab.
14. Enter the amount of collateral you have to offer.
15. Select the coin the collateral will be paid in.
16. Select the coin you want to have loaned to you. The size of the loan you can receive will be calculated for you.
17. Click on the Get Loan button.
18. Click on Loan Details.
19. Enter the address for the digital wallet you wish to use to receive your loan.
20. Click on Verify Phone.
21. Enter the code you are sent by phone.
22. Click on the Confirm button.
23. Follow the instructions you are given.

CoinRabbit Loan Terms

You can repay the loan as quickly or as slowly as you like, so a long-term loan is no problem. Remember, though, that the interest for a long term loan can add up quickly. If the total you owe becomes more than your collateral, it will used to pay off the loan and you won't get it back.

Contacting CoinRabbit

You can reach CoinRabbit's customer support only by email. There is no phone option available.