Bitfinex has announced the launch of Lending Pro, an advanced loan tool designed to automate loans to improve efficiency in capital allocation.
The new service will be activated in the first week of August, allowing users to earn money by lending cryptocurrency.
It is a highly customizable tool that uses automated technologies and advanced features to manage loans according to user specifications and market conditions.
In other words, users will be able to enter their preferred settings, and Lending Pro will use them to automatically offer loans within the exchange peer-to-peer market on behalf of the client, at market conditions.
In this way users can potentially increase their earnings by automating the management of cryptocurrency loans held within the platform’s wallets.
Bitfinex Lending Pro features
Advanced features of Lending Pro include:
- the Calculator page, which provides a comprehensive summary that allows users to make projections of their potential earnings;
- the tickers panel, which allows users to choose between various rates (such as those calculated by Bitfinex’s margin trading automation tool);
- the lending form, which has been improved to allow users to bid for all currencies on one page;
- the balances panel, which shows a user’s total holdings and provides a detailed breakdown by cryptocurrency;
- the today’s earnings panel, which allows users to track revenue and value by currency for that specific day;
- the distribution panel, which allows users to evaluate the distribution of loans and identify tokens offering the best rates.
To gain access to the service, exchange users will need to log into their account and click on the Loans drop-down menu in the top navigation bar.
Bitfinex CTO Paolo Ardoino said:
“Lending Pro provides our users with a tool to automate peer-to-peer lending, and earn passive income on their crypto. By deploying advanced automated technologies we’ve created a tool that will help our growing user base maximise their earning efficiency on the crypto held on our exchange.”