Investing in Venus (XVS) – Everything you need to know
The DeFi sector has revolutionized finance by making it decentralized and accessible to everyone, without prejudice of any kind. This is very beneficial when it comes to things like staking and yield farming, but it can lead to life-changing opportunities when it comes to things like loans.
As you know, lending in traditional banks is a long and difficult process that includes background checks, credit scores (in countries like the United States), etc., which can have a negative impact on your chances of getting a loan if you have something that the bank or other types of regular financial institutions may find trouble. DeFi has eliminated all of that, allowing almost instant loans with one condition – that you can post collateral.
Other than that, nothing else matters. For projects like Venus (XVS), it doesn’t matter where you live, what you need the money for, or how much, it all doesn’t matter if you can provide a guarantee. This is just one of the reasons why Venus is a protocol you should definitely look into. The project offers unique solutions and many advantages, so let’s talk about it and see what exactly it has to offer.
What problems does Venus (XVS) solve?
Let’s start by looking at some solutions that Venus brings to the table. These are the things that the project can offer that improves the whole approach to lending or DeFi, in general.
Simplifies lending and borrowing
The first thing to note is that the main goal of the project is to make lending and borrowing as easy as possible so that it is accessible to everyone. DeFi is still a fairly young industry that continues to grow and “find itself”. That means longtime members of the crypto and decentralized finance industry may see it as simple as that, but you have to think what it looks like to someone who has never had any experience with it. crypto or decentralization before and conclude if they would be able to navigate it.
Venus guarantees they can and will by making its UI and UX overall very intuitive and easy to navigate.
Reduces transaction fees
Another thing the project does is that it allows users to borrow directly against collateral at high speed, which ensures that users would lose less in transaction fees. This is important because one of the biggest strengths of the crypto industry is cheap transactions, where you can pay a penny to move thousands of dollars if needed. Thus, high fees are an immediate problem that the project sought to eliminate and make cheap for people using the platform and transacting.
VAI Stable Coins Minting On Demand
On top of that, the project also allows users to mint a stablecoin called VAI, and do so on demand. However, to obtain VAI loans, users must deposit at least 200% collateral on the Venus smart contract. It’s a bit pricey, but if you have money you don’t want to spend and you’d rather offer it as collateral and pay off your loan with your regular income, then it’s a great way to not only do, but to preserve the value of the loan using a stablecoin you just minted yourself.
No geographic restrictions
Since there is no centralized authority in place, there are also no restrictions on the location of users. In other words, your geographic region is irrelevant and you can get a loan wherever you are in the world.
Advantages of Venus (XVS)
Now let’s take a look at the benefits Venus has to offer and what they mean for you as an individual user.
Get instant loans
A great thing about Venus is that it gives you loans almost instantly, as soon as you provide collateral. The project allows you to withdraw the money you need without long waiting periods, which makes the process quite smooth and it can all be completed in a single day.
Next, it is important to note that Venus is a 100% decentralized project, which means that it is entirely managed by its community. Those who hold the XVS tokens are therefore responsible for helping with the management and governance of the project by voting on various proposals regarding important decisions and changes that may or may not be implemented, depending on what the community decides.
No credit check
Again, with Venus, there are no issues like credit checks, which are so common in traditional US banks. Many people can’t get a loan because of their bad credit, which they never learned how to maintain properly. These are often the people who can afford a loan and are responsible enough to repay it on time and fully meet the terms of the loan, but who can never get one because of a bad credit rating, which prevents too many people reach their goal. dreams, start their own business, etc.
Access lending markets for BTC, XRP, LTC, and more.
Finally, it should be noted that Venus emerged as the first protocol allowing users to access lending markets for Bitcoin and a number of altcoins to obtain real-time liquidity, thanks to its near-instantaneous transactions.
How does Venus (XVS) work?
Venus is an algorithmic money market and synthetic stablecoin protocol that runs on BSC. The project has introduced a number of solutions and benefits for the DeFi sector and its decentralized lending, including the ability to lend and borrow assets with great simplicity, perform near-instantaneous transactions, and pay at extremely low speeds.
It also allows users to mint the VAI stablecoin immediately after providing a 200% collateral to the project’s smart contract, which is the money that is then returned after the loan and interest are paid. But the main strengths of Venus remain the high speed and low transaction cost, which comes from its launch on BSC.
How to Buy Venus (XVS)
Currently, Venus (XVS) is available for purchase on the following exchanges.
Binance- Ideal for Australia, Canada, Singapore, UK and most of the world. US residents are prohibited to buy Venus (XVS). Use the discount code: EE59L0QP for 10% cashback on all trading fees.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. He is often the first to offer opportunities to buy new tokens. This exchange currently accepting international and US residents.
Gate.io – This exchange was established in 2013 and is one of the most popular and reputable exchanges. Gate.io currently accepts most international jurisdictions, including Australia & the UK. Residents of the United States and Canada are prohibited.
WazirX – This exchange is part of the Binance group, which guarantees a high level of quality. This is the best exchange for people of india.
Venus (XVS) — A protocol that simplifies lending and borrowing
The DeFi sector is advancing rapidly, and things like lending and borrowing have never been easier or more rewarding. For some of the biggest and most notable benefits around lending and borrowing, we suggest you check out the Venus Protocol – a BSC-based DeFi project that promises to revolutionize certain aspects of the process even in DeFi.