#venus #venusprotocol #MissionBack2Venus
What is Venus Protocol? Learn how to lend and borrow crypto
Hey there. Meet Bob. Bob is new to crypto. And he really wants to start earning on trading and investing.
But Bob has one problem: his laptop is very old. It’s almost completely useless.
Bob understands that he needs to buy a new laptop, but, unfortunately, he is short of fiat and doesn’t want to take a bank loan at a high interest rate. Bob has invested $2,500 to BNB before and stores his tokens on Binance exchange wallet. The exchange rate is not favorable for Bob, therefore (зеефо), he doesn’t want to sell tokens and cash them out.
So what are the options for Bob? He really needs a laptop to start trading effectively, to earn some crypto.
And we have a solution! Venus Protocol is an innovative DeFi platform offering crypto-collateralized loans without identity verification.
Bob just needs to transfer his BNB from Binance to Metamask or Trust Wallet through BEP-20, connect to venus.io dApp and use $1,500 in BNB as a collateral.
Now, Bob can borrow up to 750 USDT at minimal risk to buy the laptop he needs so much. He can transfer the borrowed assets to the Exchange and use them to pay for the laptop purchase in a hardware store through Binance Pay or Binance card without cashing the crypto out.
Meanwhile, the market starts going up following good investment news from Binance in Twitter and a new Launchpool announcement. BNB price grows by 30%.
This influences Bob’s balance the following way:
- His collateral cost is 30% up. Now it’s $1 950 in BNB.
- BNB on Bob’s exchange wallet is also 30% up and now costs $1 300.
- So, Bob has just earned an extra $750 after the BNB price growth, and he is ready to repay his loan.
After repaying the loan, Bob becomes an active user of Venus.io, he starts earning APY on crypto lending, stakes XVS through Venus Vault and participates in DAO community votes, as well as different promos, streams and quizzes.
This is a short story about an average crypto newbie becoming an active user of one of the best DeFi protocols on BNB Chain.
Start earning crypto with Venus Protocol lending while you sleep! Remember that mass adoption is coming.
Always, do your own research and don’t share your seed phrase with anyone!
Please like, comment and subscribe to my channel! See you soon!
Venus Team
Website: https://venus.io
DApp: https://app.venus.io
Twitter: https://twitter.com/VenusProtocol
Telegram: https://t.me/venusprotocol
Discord: https://discord.gg/4B8EtPf3ye
Forum: https://community.venus.io
Telegram chat - https://t.me/for_cryptos
Telegram channel - https://t.me/for_Cryptos_news
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