Binance $500 million crypto mining loan scheme – Katoch Tubes

Binance loan for mining industry

About Crypto Mining

Crypto mining is a process of extracting coins using high computation power. It's applicable on chain using Proof-of-Work consensus mechanism

Binance support to miners

In a latest move by the world's largest exchange, Binance mining pool has launched a lending project supporting crypto miners

About the initiative

The program will help assist bitcoin miners and its infrastructure providers with mining loans. The fund stands  at $500 million

Terms of Agreement

The borrowers will be charged with 5% to10% interest rate.  The tenure of the loan will be between 18 to 24 months.

Loan with a condition

The miners will need to give security to Binance in the form of real or crypto assets before availing the loan.

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