How to Start Lending Crypto and FIAT on the Bitlocus Platform?
Product

Last Updated: December 1, 2022

How to Start Lending Crypto and FIAT on the Bitlocus Platform?

This week, Bitlocus launched a new product feature - lending. We have prepared a step-by-step guide to explain the process.

1. Log in

First of all, you must log in to the Bitlocus platform at app.bitlocus.com/login.

2. Deposit

Now, the lending process is possible in crypto and fiat currencies: a) BUSD, DAI, USDC, and USDT (crypto), b) EUR (fiat). We will show how to deposit both.

a) BUSD, DAI, USDC, and USDT (crypto)

Once you log into Bitlocus platform, you’ll be taken to the Balances tab. Please make sure that you enabled the 'Show all assets' function. DAI is used as an example for clarity purposes.

Deposit DAI

Here you can deposit your DAI tokens by clicking the ‘Deposit’ button.

Make sure that you choose the asset you want to deposit (in our case, DAI) and the correct transfer method from a new menu that will appear. Our system will provide the deposit address to which you must send your tokens once you have successfully selected the asset and the method.

The same way applies to BUSD, USDC and USDT, just change it from DAI.

b) EUR (fiat)

Once you log into Bitlocus platform, you’ll be taken to the Balances tab. Find the 'EUR' option from the list and click on the 'Deposit' button.

Select payment method from the list, accept the Terms & Conditions and click 'Proceed'.

Now, put the information from "Instructions" section to your bank account and make the payment. The funds should reach you in a day, depending on your banking service provider.

3. Lend

Now that your BUSD, USDC, DAI, USDT or EUR assets are in your Bitlocus portfolio, you’re ready to lend them on our platform. We will cover all lending options.

a) BUSD, DAI, USDC, and USDT (crypto)

Click on the 'DeFi Marketplace' button. Choose the 'Lending' tab and click the 'Lend' button.

A new menu will pop up on your screen, asking you to select the currency you want to invest in. Select DAI and continue by clicking 'Proceed'. Your next step is to select how many tokens you want to lend. Pick the amount and once again click 'Proceed'. The last step is to accept Terms & Conditions to proceed and click 'Submit for lending'.

The same way applies to USDC and USDT, just change it from DAI and follow the same steps.

b) EUR (fiat)

Following the steps above, choose 'EUR' as a lending currency and click 'Proceed'. Choose the lending amount and click 'Proceed'.

After that, confirm the exchange from EUR to DAI. Click on 'Confirm exchange'. The last step is to submit your process. Click on 'Submit for lending'.

That’s it! Easy as that! You can check your order status by clicking on 'View order status'.