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Any traders looking to get involved in some crypto margin trading should make sure they are at KuCoin from today onwards.
This is owed to the platform’s launch of 3 Ultra-Low Interest for Leverage Activities on their margin trading service – which was rolled out at the end of 2019. The activities will begin today, February 27th, at 22:00 and will see various ways for traders to get involved by targeting different assets on the platform.
The first of these activities will involve ZEC, XTZ, DASH, and ETC, and will see all of these crypto become available to borrow at an interest rate of 0% when you do so in a 28-day term funding market. As such, it will cost you absolutely nothing to borrow these tokens via their margin trading service when this activity is live.
The second will focus on the stablecoin, USDT. This will have an interest of just 0.02% interest rate in the 28-day term funding market – a tiny amount of interest that will accumulate daily over the course of this period. there is a 2,000,000 USDT limit that will be lent during the activity. This is a fairly large amount but you still want to make sure you get there in time as this will be a sought after borrow.
The third and final activity will be on-going over the course of the event and will reward the top 20 users who have the highest leverage transaction throughout the duration of the activities. These lucky few will get a 90% discount rate when borrowing USDT for one month. This loan amount will reach 1,000,000 USDT. These users loan amounts will be calculated, as per Kucoin, based on “one’s transaction volume versus the effective leveraged transaction volume of all top 20 users”.
These will be in place until 22:00 on March 9, 2020 (UTC+8) so you have over a week to get involved.