In a move that’s set to leave an indelible mark in the cryptocurrency lending space, Dukascopy Bank, renowned for its financial innovation, has introduced a groundbreaking crypto lending program. This innovative offering provides cryptocurrency holders with the opportunity to access instant cash while preserving their valuable digital assets, marking a significant milestone in the cryptocurrency industry. With its seamless process, the Swiss online bank has paved the way for greater financial flexibility among cryptocurrency enthusiasts and HODLers.
Unlocking the Value of Crypto Investments
According to a press release via Cryptoticker, Dukascopy’s crypto lending program introduces a unique opportunity for cryptocurrency holders to leverage the value of their assets without the conventional burden of repayment. The program’s key features and workings will be explored here to better understand its significance.
Those who wish to avail the new crypto lending program of Dukascopy will only have to undergo the following process:
The initial step involves clients setting up a Multi-Currency Bank Account (MCA) with Dukascopy Bank, which serves as the central hub for all crypto lending activities. By establishing this account, users lay the foundation for a smooth transition of their digital assets from the blockchain to their Dukascopy account.
Upon completion of the MCA setup, clients can effortlessly transfer their cryptocurrency holdings from their blockchain wallet to their Dukascopy MCA. This uncomplicated transfer process ensures that their digital assets are ready to be converted into usable funds.
After the cryptocurrency transfer, clients can navigate to the ‘Investment’ section of their MCA and select the “Crypto lending/borrowing” option. This step initiates the process of converting their crypto investments into regular currency, making it available for various financial activities.
As cryptocurrency is converted into regular currency, half of it remains in the MCA, while the other half is transferred to a trading sub-account as collateral. This automated process also opens a position that mirrors the initial crypto investment, ensuring the retention of the client’s initial investment while enabling them to utilize the converted regular currency for their financial needs.
Illustrating with a Practical Example
Consider this scenario provided by the source in which a client funds their MCA account with 0.1 Bitcoin, with each Bitcoin valued at $20,000. The client chooses to maintain their investment while accessing 50% of its market value.
In this case, the client would receive $1,000 in their MCA account, while the remaining $1,000 would be deposited into their newly established trading sub-account. An automated long position of 0.1 BTC/USD at the prevailing price of $20,000 per Bitcoin would be initiated in their trading account, preserving the client’s initial investment.
Effective Investment Management with Dukascopy
Dukascopy Bank’s trading account is specifically designed for the efficient management of transferred investments. Users gain access to the Dukascopy trading platform, JForex, offering over 1200 trading instruments.
This diverse range enhances flexibility, making it easier to add positions with lower capital requirements. JForex also equips users with essential tools such as a graphical interface, pending orders, and price alerts, simplifying the monitoring and management of investments.
A Trusted Swiss Financial Institution
Dukascopy Bank, a reputable Swiss financial institution headquartered in Geneva, places a strong emphasis on the safety of clients’ crypto assets. This assurance provides users with peace of mind as they explore the full potential of their cryptocurrency holdings, knowing their assets are securely managed.
Dukascopy Bank’s crypto lending program heralds a new era of financial flexibility for cryptocurrency holders. The innovative process, potential for instant cash access, and secure management of digital assets combine to make this program a game-changer in the cryptocurrency finance realm.
By creating a pathway for cryptocurrency enthusiasts to unlock the value of their assets, Dukascopy Bank is at the forefront of bridging the gap between traditional and digital finance.