What is JASMY coin and how to borrow against it?

(Last Updated On: March 31, 2023)

The internet has revolutionized the way we work, play and live. From a digital blueprint crafted by coders, it’s evolved into an entire digital economy. Corporations often monopolize our access to the net through their centralized systems – collecting data and using it to generate profits. This is where the advent of blockchain technology brings a new alternative. Jasmy upholds data democracy by providing users ownership over their data; its tokens power the virtual economy and open up fresh possibilities for the future. Discover everything about Jasmy’s unique blockchain, its tokens, and their potential impacts in this article!

What is JASMY?

Designed specifically for the Internet of Things (IoT), Jasmy offers a secure, user-oriented environment to store, save or exchange data. As a system that includes computers, cars, phones and even implantable biochip transponders with unique identifiers, the IoT has the potential to dramatically improve customer experience — yet poses security risks. With its infrastructure and intuitive platform, Jasmy is helping to realize data democratization, returning ownership of personal data back to users. This enables them to securely exchange their private information on their terms and transform it into personal assets.

Is JASMY coin a good investment?

Jasmy coin is a digital currency that has become increasingly popular in recent years. It can be used for a variety of financial purposes and offers great flexibility to its users. It is also highly secure due to its blockchain technology, making it difficult to hack or counterfeit. This makes it an ideal choice for those who want to make sure their funds are safe. Furthermore, it is incredibly easy to store, transfer, and trade. All these features make Jasmy coin a great choice for investors looking to get into the cryptocurrency market.

JASMY coin’s history

In April 2016, several former Sony executives founded Jasmy in Tokyo, including Kunitake Ando (Representative Director of Jasmy & Former President and COO of Sony Corporation), Kazumasa Sato (President & COO at Jasmy and Former CEO of Sony Style.com Japan Inc.), Masanobu Yoshida (Deputy President & CTO at Jasmy, retiring in December of 2021), and Hiroshi Harada (CFO at Jasmy & Executive Financial Analyst at KPMG).

On October 2021, JasmyCoin (JASMY) was launched on the Japanese exchange BITPoint Japan.

The project has partnered with major players in the digital industry, among them: Transcosmos, Panasonic and VAIO.

Where to buy and sell JASMY coin

JASMY coin can be bought and sold on a variety of exchanges, including Binance, Kucoin, and Gate.io. As for the crypto lending option – crypto lending platform CoinRabbit provides crypto loans with unlimited loan term against Jasmy coin.

JASMY coin price

At the moment of writing this article, JASMY price is $0.00486 with a live market cap of $236 860 171 USD. It has a circulating supply of 47 569 999 999 JASMY coins and a max. supply of 50 000 000 000 JASMY coins.

What are the benefits of taking out a JASMY coin loan?

With crypto loans, you can access funds without selling, increase liquidity, maximize capital utilization, and diversify your portfolio more effectively. In addition, crypto loans tend to have lower interest rates than traditional loans, so borrowers are able to get funds for much less. Finally, these loans provide additional peace of mind since crypto collateral is stored securely in a cold storage wallet.

Here are some cases where you can use JASMY as a collateral and get profit:

• Profit from volatility – CoinRabbit loans remain fixed no matter the exchange rate of the collateral currency. An example will help to explain this concept. Suppose you received a loan with 90% Loan-to-value-ratio against 2,000,000 JASMY when it was valued at $0.00354 (approx. $7,080). You were then provided with 90% of your collateral; in this case $6,370. To receive your JasmyCoin collateral back, you must repay that exact amount – regardless if JASMY rises to $0.00821 or higher. Technically speaking, when repaying the loan at that point, you’d be getting back a total of $16,400 instead of the original $8,000! Crypto loans allow users to leverage their assets and potentially gain profit simultaneously – making them incredibly advantageous.

• Make a huge purchase and continue holding – The crypto loan allows you to enjoy the value of the invested fiat money while inflation permanently decreases it. Today the same amount values more than tomorrow. Therefore, when you take out a crypto loan against JASMY, you keep all your JASMY assets but gain extra funds to spend today, as we all know that tomorrow your wishes will be more expensive. 😉

• Tax optimization – Some countries require you to pay up to 40% on your crypto investment profits. There is no direct profit in a loan transaction. So you can take a loan and maximize your tax efficiency without worrying about taxes.

• Technique for managing risks – Rather than holding BONE tokens and risking the unpredictable fluctuations of the crypto markets, crypto investors now have the opportunity to utilise their investments as collateral for a BONE loan. They can access funds while their assets remain secure, allowing them to manage their risks. In this way, they can benefit from the lower interest rates of crypto loans while protecting themselves from potential losses from market volatility at the same time.

Is there a way to work with JASMY volatility to avoid liquidation?

JasmyCoin crypto volatility can result in liquidation. When you use your Bone to take a loan, it is important to monitor the status of your loan. CoinRabbit offers an instant alert system, which uses SMS and e-mail to inform users when there is a potential liquidation.

You can always add more collateral to adjust the Liquidation price of your loan. Loan collateral at CoinRabbit isn’t frozen; therefore, liquidation prices are adjusted immediately by adding more collateral or repaying your loan.

Aside from that, you can decrease the LTV at any time while the loan is open by adding more collateral. For example, CoinRabbit’s minimum loan LTV is 50%. CoinRabbit allows you to increase collateral immediately after opening a loan, so the LTV will decrease at a rate that suits you.

How to get a JASMY loan in 4 steps

The application process for a JASMY crypto loan has been significantly simplified thanks to crypto loan platforms like CoinRabbit.

• Choose JASMY crypto as your preferred collateral on the homepage, under the Loan calculator section.
• By entering the amount of JasmyCoin crypto you want to deposit as collateral, the Calculator will show you the Loan Amounts you will receive, and click “Get Loan.”

• We will ask you to confirm the details, enter your stablecoin address, and verify your email address after clicking “Get Loan”

• Next, send JASMY to the displayed address. After we receive your collateral, the loan will be sent to you immediately.

Conclusion

JASMY crypto loans with CoinRabbit – is a great tool for crypto investors and holders: you can use a crypto loan to optimize your taxes, make a huge purchase, reinvest in new cryptocurrencies and many more while continuing holding your digital assets.

It’s important to remember that all operations with crypto are highly risky. When you get a loan with any crypto lending platform – don’t forget to check the status of your crypto loan periodically and add collateral if it’s needed to avoid liquidation of the loan.

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• Source: https://coinrabbit.io/blog/what-is-jasmy-coin-and-how-to-borrow-against-it/