WHAT IS LOAN FEATURE?
Loan feature at Plancoin could be a completely new trend. This feature will help minimize the risk of facing the big loss of the money they invest. It will also increase the daily trading volume on the Exchanges and help increase the PLAN price.
In general, Loan feature at Plancoin are referred to as margin trading, which is a way to use your BTC or ETH to borrow PLAN directly from the Plancoin website and then trade for profit. It is also a form of "leverage" to help Plancoin develope.
Step 1: To start borrowing PLAN, you firstly need to deposit BTC or ETH. The BTC, ETH and PLAN exchange rates will be updated in real time.
Step 2: To apply BTC or ETH deposit to borrow the corresponding PLAN number.
Step 3: You will get PLAN immediately! The fee of borrowing PLAN will be announced in the control panel at Loans and Loans history section. This fee is charged at a normal PLAN of 0.4% per day. You must borrow a minimum of 3 days, and you must pay a fee plus the PLAN you borrowed before the end of the loan period to receive a deposit of BTC or ETH. If the time ends, you don’t pay PLAN, you will not be able to get back the deposit, and then this forces you to own the PLAN.
The minimum deposit amount is 0.01 BTC or 0.1 ETH.
WHY DO I HAVE TO PAY FEE FOR BORROWING PLAN?
Normally, any users owning the PLAN can perform staking to get daily interest, so it forces us to charge a fee on the total PLAN you borrow each day. This fee is equivalent to % of staking. In addition, fee collection also increases daily trading volume causing increase PLAN’s value. (Fee of borrowing PLAN may be reduced over time depending on the degree of difficulty or % of profits from daily Staking)
If you have made a loan, but you didn’t want to trade, or you were experiencing some other problems, you would need to get back the initial deposit. Firstly, you need to withdraw PLAN from the website wallet to wallets on the operating systems to start staking and get daily interest, then about ~5 days, you can withdraw the PLAN back to the website wallet to refund the PLAN and get back BTC or ETH that you deposit.