Investing in Venus (XVS) – Everything you need to know

The DeFi sector has revolutionized finance, making it decentralized and accessible to all, without any kind of bias. 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 lending.

As you know, getting a loan from traditional banks is a difficult, lengthy process that involves background checks, credit checks (in countries like the US) and the like, which can negatively impact your chances of getting a loan if you have something that does Bank or other types of regular financial institutions can cause problems. DeFi has eliminated all of that, enabling near-instant lending with a single stipulation – that you can post collateral.

Apart from that, nothing else matters. With projects like Venus (XVS), it doesn’t matter where you live, what you need the money for or how much – it doesn’t matter if you can provide collateral. This is just one reason why Venus is a protocol you should definitely look into. The project offers unique solutions and numerous benefits, 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 specific solutions that Venus brings to the table. These are the things that the project can offer that improve the whole approach to lending, or DeFi in general.

Simplifies borrowing and borrowing

The first thing to note is that the main goal of the project is to make borrowing and borrowing as easy as possible so that they are available to everyone. DeFi is still a fairly young sector that is still developing and “finding itself”. This means that longtime members of the crypto industry and decentralized finance might see it as simple as it is, but you have to think about what it looks like to someone who has never had crypto or decentralization experience before and conclude if they would or wouldn’t get along.

Venus makes sure they can and will by making their UI and overall UX 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 speeds, which ensures users would lose less through transaction fees. This is important because one of the crypto industry’s greatest strengths is cheap transactions, where you can pay a dime to move thousands of dollars if needed. So, high fees are an immediate problem that the project wanted to eliminate and make it cheap for people to use the platform and transact.

Mint VAI stablecoin on demand

In addition, the project also allows users to mint a stablecoin called VAI and do so on demand. However, in order to get VAI loans, users need to deposit at least 200% collateral for the Venus smart contract. It’s a bit pricey, but if you have money you don’t want to spend and would rather offer it as collateral and pay off your loan with your regular income, then not only is this a great option, but it also increases the value of the loan obtained by using a stablecoin that you just minted yourself.

No geographic restrictions

Since there is no central authority, there are no restrictions on users’ location. In other words, your geographic region doesn’t matter and you can get a loan anywhere in the world.

Benefits of Venus (XVS)

Now let’s take a look at the benefits that Venus has to offer and what they mean for you as an individual user.

Get instant loans

The great thing about Venus is that once you post collateral, it gives you credit almost instantly. The project allows you to withdraw the funds you need without long waiting times, which makes the process smooth and can be completed in a single day.

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Next, it’s important to note that Venus is a 100% decentralized project, which means it’s run entirely by its community. Those who hold the XVS tokens are therefore responsible for supporting the management and governance of the project by voting on various proposals on important decisions and changes that may or may not be implemented depending on the community’s decision.

No credit check

Again, with Venus there are none of the hassles like credit checks that are so common in traditional US banking. Many people are unable to get credit due to their bad credit scores which they have never been taught how to properly maintain. These are often the people who can afford a loan and are responsible enough to repay it on time and fully comply with the terms of the loan, but never get one due to a bad credit history that prevents too many people from getting a loan can have dreams, starting your own business and the like.

Access credit markets for BTC, XRP, LTC and more

Finally, it is worth noting that Venus emerged as the first protocol to allow users to access credit markets for Bitcoin and a range of altcoins to source real-time liquidity thanks to its near-instantaneous transactions.

How does Venus (XVS) work?

Venus is an algorithmic money market and synthetic stablecoin protocol running on BSC. The project introduced a number of solutions and benefits to the DeFi sector and its decentralized lending, including the ability to lend and borrow assets with great ease, conduct near-instant transactions, and pay at ultra-low speeds.

It also allows users to mint the VAI stablecoin immediately after providing 200% security for the project’s smart contract, i.e. the money that will be repaid later after disbursement of the loan and interest. However, Venus’ main strengths remain its high speed and low transaction costs, resulting from its launch on BSC.

How to Buy Venus (XVS)

Venus (XVS) is currently available for purchase on the following exchanges.

Binance – Best for Australia, Canada, Singapore, UK and most of the world. US residents are prohibited from the purchase of Venus (XVS). Use discount code: EE59L0QP for 10% cashback on all trading fees.

KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer purchase options for new tokens. This exchange currently accepting international and US citizens.

Gate.io – Founded in 2013, this exchange is one of the most popular and reputable exchanges. Gate.io currently accepts most international jurisdictions, including Australia & that United Kingdom. US and Canadian residents are prohibited.

WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It’s the best exchange for residents of India.

Venus (XVS) – A protocol that allows for easy lending and borrowing

The DeFi sector is moving fast, and things like lending and borrowing have never been easier or more rewarding. For some of the biggest and most notable benefits related to lending and borrowing, we recommend checking out the Venus Protocol – a BSC-based DeFi project that promises to revolutionize some aspects of the process even in DeFi.