3 months Crypto.com introduces ‘Spending Power’ – you can borrow against your staked coins with 0% interest if repaid within seven days. If the loan is not repaid within seven days, the interest rate is 9.99% thereafter. Reddit      

Yes, that’s right. Apparently the new ‘Spending Power’ feature let’s you take a crypto loan using your staked coins as collateral… with 0% interest if that loan is repaid within 7 days. This seems like a fairly original idea as you continue to earn interest on any coins in Earn while being allowed to use those same coins as collateral for the ‘Spending Power’ loan.

From what I’ve read, this new feature is already rolling out in Canada and the borrow limit is tied to card tier.

More importantly, this is a super convenient way to top up your CDC card immediately while waiting for fiat to be credited from your bank account to the CDC Fiat Wallet (and free due to that 7-day 0% interest period).

Loans which are not repaid within 7 days then accrue interest at 9.99%.

As someone who was massively critical when CDC decreased the Earn Limit recently, that does now start to make a little more sense. More importantly, this will hopefully inspire other lenders (Nexo, etc) to start offering similar interest free loans….

Spending Power

submitted by /u/sandygws
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