The lending platform of cryptocurrency exchange CoinDCX just added a couple more options for users to earn interest on.
In a twitter announcement, the exchange revealed that users can now lend TRX (Tron) and BTT (Bit torrent token) on DCXLend, the lending platform of the exchange.
With TRX and BTT, DCXLend now offers users to lend 8 different crypto assets including BTC, USDT, ETH and more.
The current interest rate for TRX is 0.4% per month and for BTT is 0.3% per month making it 4.8% and 3.6% per year respectively.
Neeraj Khandelwal the co-founder and CTO of CoinDCX says the goal is to offer opportunities to both long and short these tokens. The long option is already available with 4x leverage on DCXMargin.
“We predict a lot of price action in TRX and BTT in the coming days. DCX wants to provide equal speculation opportunities for bearish and bullish scenarios to its users. Lending in TRX and BTT markets will facilitate shorting of these tokens.”
Neeraj Khandelwal, co-founder and CTO, CoinDCX
Khandelwal says currently they have 8 tokens available for shorting on their margin trading platform DCXMargin. They aim to take that number to 50 in six months.
Would you be shorting TRX and BTT or lending it on CoinDCX?
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