Introduction

Torque is a non-custodial platform for fixed rate, indefinite-term cryptocurrency loans. It allows you to borrow against your current assets in as little as a single transaction. Torque’s unique architecture allows for the lowest liquidation prices while avoiding the significant margin call penalties of existing borrowing platforms. Torque promises the sort of streamlined, simple user experience required for mass adoption.

What is Torque Loans?

Torque is a crypto finance and loaning application offered on the Ethereum blockchain. As its motto specifies ( ‘Borrowing made simple’), the function of Torque Loans is straightforward. One can get instant crypto-backed loans through Torque Crypto loans, even without the IRS-mandated Know Your Customer (KYC) form.

How Does Torque Work?

One may be intrigued by the concept of cryptocurrency and loaning. However, once an individual checks into Torque crypto loans, the easy-to-navigate layout of the app will make everything look simple.

Why Choose Torque.loans?

So many leading companies would help customers in the crypto finance domain and claim crypto-based loans. But, the best decision is to opt for Torque Crypto loans and make things super easy.

Apart from being a very convenient loaning app for the crypto finance domain, it offers guided loaning operations for all of its users. Their customer care team is at service 24/7, ready to assist customers who may face issues while using the app. The team of Torque.loans offers a fixed rate of interest. So, customers know precisely how much payback is needed whenever a customer borrows.

The facility of partial liquidation is also a big win with Torque Crypto loans. What if volatility strikes? The users can be assured that Torque keeps the loans collateralized, and the liquidation is the minimum when that happens. That way, the collateral is brought to 10% above the margin maintenance. If one takes decentralization on a serious note, Torque is definitely the place to borrow some cryptocurrency. Here, users don’t have to submit any KYC form before borrowing. There is no verification or AML, and no credit checks are necessary.

In addition to the features discussed above, Torque offers the best non-custodial service. That means users can fully control their assets. It is the user’s own key and loan. All these features make Torque the most approached crypto-backed borrowing platform.

Summary

• Torque is the first borrowing platform that has the facility of indefinite-term loans.

• Torque has no fixed or rigid interest rate.

• Torque is an App, and also a dApp.

• Torque does not require its customers to fill up any KYC before applying for a crypto loan.

• Torque has top-notch customer service that is at service 24/7.

Regulation

Like other crypto exchange platforms and DeFi platforms, Torque is not yet regulated. However, that does not make it any less efficient and trustworthy.

Features

1. The first and foremost feature of Torque.loans is that it is effortless to work with. One does not have to be technologically sound and efficient to operate this. Even a layman with only a basic knowledge of mobile apps and software can start taking loans here.

2. For opening a loan, one has to interact with the Torque.loans interface. First, the user has to specify the amount that they would like to loan. Then they can accept the transaction with their web3 wallet.

3. Alternately, users have to send the collateral currency or property to the specified ESN address.

4. For instance, if the designated address is dai.tokenloan.eth, the borrower receives a loan of Dai that is collateralized in the ETH.

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