This article is written in partnership with Just Mining (find out more)
Lending, a novelty offered by the Just Mining platform
The investment opportunities offered by cryptocurrencies have grown significantly in recent years. For some, these opportunities have been made possible by decentralized finance (DeFi) and its various protocols.
Among these opportunities, lending is one of the most used. However, at first glance, it requires more technical knowledge than the simple purchase of cryptocurrencies on an exchange platform. This is precisely what the French platform Just Mining wanted to remedy, which recently obtained the PSAN registration. The lending offer at Just Mining is in fact directly available from his personal space.
Like other financial mechanisms enabled by DeFi, lending allows you to generate passive income through your cryptocurrencies. Unlike the staking that it also offers, Just Mining has chosen to base its lending offer on stablecoins, which allows it not to worry about the potential volatility of the underlying asset.
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How does the Just Mining offer look like?
“We have been experimenting with DeFi for several months with the idea of offering a coherent and attractive product while controlling all the risks associated with the different protocols,” explains Thibaut Boutrou, Marketing Director of Just Mining
Concretely, how does this Just Mining offer materialize? First, the annualized rate of return is 9.5% at launch. For example, if you hold the equivalent of $ 1,000 in stablecoins, you will receive, at the current rate, an additional $ 95 in one year.
This rate is likely to change over time, depending on the state of the market and the development of the various protocols used by Just Mining. Currently, the protocols and platforms in use are Aave, Nexo, SwissBorg, BlockFi, Celcius, Anchor, PancakeSwap and Compound Finance. This list can be modified according to several parameters (new partnership, failure of a protocol, etc.).
Still with a view to making this solution the easiest to use and the most attractive, the deposited funds will only be locked over a period of 24 hours, and interest will be collected every minute by users.
Several stablecoins will be supported by Just Mining, starting with Tether’s USDT. Then, in the near future, the catalog of accepted stablecoins will grow, in particular with the DAI and the USDC.
The advantages of lending at Just Mining
Just Mining’s lending solution has many advantages:
Allows you to obtain passive income on your stablecoins; Investing in stablecoins protects you from exposure to crypto-asset volatility; Solution accessible from $ 50; Does not require any technical knowledge: Interest is credited every minute from the dashboard; It is possible to follow the evolution of his earnings in real time, always from the dashboard; The funds are blocked (lockup) for only 24 hours and they can therefore be recovered the next day with even a (small) part of the interest paid; The proposed return is much higher than traditional investments of the Livret A type.
The risks of lending
The lending solution has a few drawbacks:
Lending assumes that the annualized rate of return at 9.5% can change over time, upwards, but also downwards, depending on the market; The possible failure of a protocol used by Just Mining. A problem that exists in the DeFi universe and of which we must be aware.
How to generate passive income on your stablecoins with Just Mining?
Investing in lending with Just Mining only takes a few minutes and takes place on this page. Before you can invest, you must of course be in possession of a minimum of 50 USDT.
If you don’t have 50 USDT, you can click on the “Invest” button and get your first Tether stablecoins. For those who already have 50 USDT or more on an exchange platform or external wallet, just click on “Deposit” and follow the guide. In both cases, it is necessary to be registered with Just Mining.
For people who already have an account with Just Mining and at least 50 USDT in your wallet, you can go to this wallet and choose the “Reinvestment” option in order to place them in lending.
After your USDT is deposited, it will take 24 hours to start generating passive income. As stated earlier, interest will be collected every minute by your Just Mining wallet.
If you want to withdraw your funds, once you have the option to do so, the release request will usually be processed by Just Mining within 24 hours.
Thus, Just Mining continues to simplify investment in cryptocurrencies as much as possible by offering alternative solutions to trading. It was already possible to invest in staking and masternodes without having the right equipment to contribute. It is now the same with lending, with a desire to attract everyone, even if we are not always aware of all the technical developments in digital assets.
👉 If you have any other questions about this lending, see the Just Mining FAQ
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About the author: Benjamin Allouch
Lawyer specializing in digital law and personal data. He quickly became interested in bitcoin and blockchain technology, and founded the blog bitcoin-blockchain.fr. He is interested in the emergence of blockchain law and the legal consequences of this technology.
All articles by Benjamin Allouch.