Coinone Introduces 'Borrow Coins': Comprehensive Digital Asset Lending Solution

Coinone, one of South Korea's leading cryptocurrency exchanges, unveiled its innovative digital asset lending platform, 'Borrow Coins,' on October 15. This new service enables users to secure digital currency loans using South Korean won (KRW) as collateral, offering a convenient and flexible financial solution to crypto investors.

Key Features of the 'Borrow Coins' Service

The 'Borrow Coins' platform allows users to borrow up to 82% of their deposited collateral amount, making it an accessible and efficient option for individuals seeking additional funding. A minimum collateral of KRW 50,000 is required to participate, while the maximum amount that can be borrowed in a single transaction is set at KRW 30 million.

Borrowers can choose a borrowing period of up to 30 days, with a daily service fee of 0.05% applied. This fee is collected upon full repayment of the loan. Users have the flexibility to trade or withdraw their borrowed assets freely and can repay their loans at their convenience within the designated timeframe.

For now, the platform supports Bitcoin (BTC) as the sole lending asset. However, Coinone has confirmed plans to expand its offerings, introducing support for additional digital assets in the near future.

Eligibility Requirements and Risk Management Protocols

To use the 'Borrow Coins' service, participants must demonstrate a clear understanding of the risks and operational policies associated with digital asset lending. As part of the onboarding process, users are required to review the guidelines and pass a knowledge assessment quiz by achieving the minimum qualifying score.

The platform is equipped with robust risk management features, including a preemptive risk notification system and an "Auto-Leverage" option. The Auto-Leverage setting is designed to protect user investments during highly volatile market conditions. It activates automatically to increase collateral by drawing on a customer’s existing assets when their account enters a high-risk zone. Users can customize Auto-Leverage settings, enabling full control over how their collateral is managed. Detailed transaction tracking features are also provided for transparency and oversight.

Exclusive Promotional Event: Up to 10,000 USDT in Rewards

Coinone is celebrating the launch of 'Borrow Coins' with an exciting promotional event running from October 15 (9 a.m.) to October 24. During the event, participants who utilize the lending service will have the chance to share a prize pool totaling 10,000 USDT.

Out of the total rewards, 7,000 USDT will be distributed equally among all eligible users. An additional 3,000 USDT will be divided equally among those who secure collateralized loans worth KRW 10 million or more. Rewards will be distributed by October 26, and participants should note that overlapping rewards are not permitted.

CEO Lee Seong-hyun's Vision for Strategic Investing

Coinone CEO Lee Seong-hyun underscored the competitive advantages and strategic value of the 'Borrow Coins' service. He stated, "Borrow Coins empowers users to retain ownership of their existing assets while accessing additional investment funds. The service opens doors to profitability even in bearish market conditions. We encourage our users to explore new investment opportunities and take advantage of the strategic tools this service provides."

A Step Forward for Crypto Lending in South Korea

Coinone's introduction of 'Borrow Coins' marks a significant development in cryptocurrency-based financial services in South Korea. By providing a secure, flexible, and user-focused lending platform, Coinone aims to meet the evolving needs of both casual and advanced investors. With additional asset classes and enhanced features on the horizon, 'Borrow Coins' is set to become a cornerstone of Coinone's service portfolio.

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