KuCoin Margin Trade supports customers to lend limited cryptocurrency to other customers for margin trading and to charge interest.
1. The available assets in the main account could be lent to borrowers.
NOTE: The assets in the trading account cannot be directly lent. If you would like to lend out, please first transfer your cryptocurrency to the main account.
2. The lenders enter the Lending Markets page and open the order.
The lenders only need to fill in the Loan Amount and the Daily Interest Rate (Interest rate range is from 0 to 0.2%) and the Lend Terms selection could be 7 days, 14 days, and 28 days. The default lend term is 28 days.
3. The open order is successfully released and the order enters the lending market and Open Orders. Open orders only show up the orders which have not been matched completely.
4. After the order is matched, it enters the Unsettled page and becomes a loan.
5. The Settled page contains:
a. Paid off: the principal and interest have been paid; the borrower gets a negative balance, but the risk fund has made up.
b. Not paid off: the borrower gets a negative balance, but the risk fund's corresponding currency balance is insufficient
6. The Order History page contains:
a. Completed orders: all matched transactions
b. Canceled orders: all canceled orders including the orders matched partially but canceled
7. The trade details enter into the Account Details of the main account
8. Statement of Expenditures
9. Cryptocurrency lent out
10. Paid fee
11. Repayment details
12. The principal and interest of the borrower's repayment
13. Details of the principal and interest of the risk fund compensation