Bybit Lending is a cryptocurrency lending service that allows lenders to earn lucrative yields on idle cryptocurrencies. The accumulated cryptocurrencies in the asset pool will be lent to borrowers based on hourly interest. Bybit uses state-of-art technology to match lenders’ and borrowers’ liquidity needs while ensuring the safety of users’ funds with a comprehensive risk management system.
Bybit loan borrowers can borrow additional crypto assets when they provide a requested amount of collateral based on the loan terms. In the meantime, they’ll have to pay interest for the loan. The interest will be shared by the lenders from Bybit Lending in the form of an attractive APR to reward them for depositing their funds in the asset pool. This unique system ensures that everyone participating in the platform is rewarded fairly, creating a win-win situation for both borrowers and lenders.
Bybit Lending’s APR is calculated with the following formula:
APR = (Total Revenue per Hour/Unredeemed Principal per Hour) * 24 * 365.
Differences Between Bybit Lending and Others
Bybit Lending stands out from its competitors in terms of its percentage APR, redemption schedule and redemption limit. Below, we’ve broken down the differences between Bybit and other platforms based on the most common crypto lending assets:
Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and USD Coin (USDC).
Bitcoin (BTC)
| Bybit | KuCoin | OKX | Gate.io | |
| % Interest Rate | 0.36–4.7% | 1.46% | 1% | 0.88% |
| Redemption Schedule | APR is accumulated hourly on the principal amount. | APR is accumulated daily on the principal amount, but a 15% platform fee will be charged from the accrued interest. | APY is accumulated daily on the principal amount. | APY is accumulated hourly on the principal amount, but a percentage of fees will be charged from the interest. |
| Redemption Limit | To be determined | – | – | – |
| Deposit Limit | – | 20 | 10,000 | – |
*APR and APY updated as of Apr 17, 2023
Ethereum (ETH)
| Bybit | KuCoin | OKX | Gate.io | |
| % Interest Rate | 0.25–4.7% | 1.46% | 1% | 0.88% |
| Redemption Schedule | APR is accumulated hourly on the principal amount. | APR is accumulated daily on the principal amount, but a 15% platform fee will be charged from the accrued interest. | APY is accumulated daily on the principal amount. | APY is accumulated hourly on the principal amount, but a percentage of fees will be charged from the interest. |
| Redemption Limit | To be determined | – | – | – |
| Deposit Limit | – | 0.120388980 | 190,000 | – |
*APR and APY updated as of Apr 17, 2023
Tether (USDT)
| Bybit | KuCoin | OKX | Gate.io | |
| % Interest Rate | 1.54–11.76% | 7.67% | 3% | 6.13% |
| Redemption Schedule | APR is accumulated hourly on the principal amount. | APR is accumulated daily on the principal amount, but a 15% platform fee will be charged from the accrued interest. | APY is accumulated daily on the principal amount. | APY is accumulated hourly on the principal amount, but a percentage of fees will be charged from the interest. |
| Redemption Limit | To be determined | – | – | – |
| Deposit Limit | – | 1,000,000 | 1,055,000,000 | – |
*APR and APY updated as of Apr 17, 2023
USD Coin (USDC)
| Bybit | KuCoin | OKX | Gate.io | |
| % Interest Rate | 0.82–16.46% | 7.3% | 1% | 2.63% |
| Redemption Schedule | APR is accumulated hourly on the principal amount. | APR is accumulated daily on the principal amount, but a 15% platform fee will be charged from the accrued interest. | APY is accumulated daily on the principal amount. | APY is accumulated hourly on the principal amount, but a percentage of fees will be charged from the interest. |
| Redemption Limit | To be determined | – | – | – |
| Deposit Limit | – | 200,000 | 50,000,000 | – |
*APR and APY updated as of Apr 17, 2023
Bybit stands apart from its competitors for to its high APR, accumulation of APR every hour and its high redemption limit.
How Does Bybit Lending Derive Its High APR?
Bybit Lending uses an ingenious algorithm that automatically adjusts the APR based on the Loan-to-Pool ratio and it increases/decreases along with supply and demand. The APR is refreshed every 10 minutes, and interest is accrued every hour. When the demand for loans for a particular crypto asset increases, the APR surges to attract more lenders to deposit their assets, resulting in exciting returns. As more lenders deposit their assets, the APR adjusts to reflect the supply accordingly, ensuring steady returns for all.
Key Benefits of Using Bybit Lending
High Interest Rate: Earn Hourly, Grow Safely
With variable interest rates that scale with borrowing demand, you can watch your funds grow faster than ever when you deposit with Bybit Lending. Additionally, with hourly payouts starting just one hour after your deposit, you won’t have to wait long to see the returns.
Flexible Redemption
With Bybit Lending‘s Flexible Redemption, borrowers can access loan funds without delay, thanks to the immediate availability of asset pool contributions. For depositors, the good news is that they can redeem funds whenever they want without being subjected to lengthy lock-up periods and enjoy instant credit upon successful redemption.
Low-Risk Lent Assets: Lend With Peace-of-Mind
Bybit’s state-of-the-art risk management measures and top-notch security tech guarantee that your lent assets stay secure. Some of the measures include collateral value ratios, liquidation thresholds and an Insurance Fund. Worried about your assets being used for business gains? No problem, as your valuable contributions remain within the ecosystem, protected and untouched.
The Bottom Line
If you’re looking for a great way to earn lucrative yields on your crypto assets, consider taking advantage of Bybit Lending. With the various benefits such as high interest rate, flexible redemption and low-risk lent assets, you can make better use of your idle assets to generate passive income. Start maximizing your profits by participating in Bybit Lending today!
Bybit offers a variety of loanable assets at competitive interest rates, and you can use all supported assets in your Spot Account or Funding Account (for users who upgraded to Unified Trading Account) as collateral to borrow against.
There are no additional requirements. As long as you’re a registered Bybit user and have assets in your Spot Account or Funding Account (for users who upgraded to Unified Trading Account) that can be used as collateral assets, you can borrow coins on Bybit.
The borrowable and collateral assets include USDT, BTC, ETH and more.
No, you can only repay it with the coins you borrowed. For example, if you have borrowed USDT, you can only use USDT to repay the loan.
You can repay at any time. Interest will be charged based on the actual borrowing time. Please note that loan durations of less than one hour will be counted as one hour.
Yes. You can withdraw borrowed assets.
