2024

Moonwell

Apple

when

USDC

<h4><strong>Now, you can use your crypto assets, like <a href="https://www.altcoinbuzz.io/?s=cbbtc" target="_blank" rel="noopener">cbBTC</a>, AERO, or weETH. It let you borrow USDC and load it onto your Moonwell Card. </strong></h4> 
<p>This new feature makes it easier to use your crypto for everyday spending. Let’s explore more about this important announcement from Moonwell.</p> 
<h5><strong>What Does This Mean?</strong></h5> 
<p>In simple terms, Moonwell lets you borrow USDC, a type of cryptocurrency that’s worth about one US dollar, using your crypto assets as collateral. For example, if you have some cbBTC, AERO, or weETH, you can use these to borrow USDC. Once you have the USDC, you can load it onto your Moonwell Card and use it to make purchases. Just like a regular debit card.</p> 
<p>Think of it as trading in your virtual treasure for cash that you can spend at any store that accepts crypto. With the Moonwell Card, you’ll be able to use your cryptocurrency in the real world.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f31c.png" alt="🌜" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f31b.png" alt="🌛" class="wp-smiley" style="height: 1em; max-height: 1em;"> Borrow and Load Your Moonwell Card</p> 
 <p>Use your supplied assets on Moonwell like <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw">@Coinbase</a>‘s cbBTC, <a href="https://twitter.com/AerodromeFi?ref_src=twsrc%5Etfw">@AerodromeFi</a>‘s AERO, or <a href="https://twitter.com/ether_fi?ref_src=twsrc%5Etfw">@ether_fi</a>‘s weETH to borrow USDC and load your Moonwell Card.</p> 
 <p>Leveraging your onchain assets has never been easier. <a href="https://t.co/afbYLCcTAW">pic.twitter.com/afbYLCcTAW</a></p> 
 <p>— Moonwell (@MoonwellDeFi) <a href="https://twitter.com/MoonwellDeFi/status/1867239682649846197?ref_src=twsrc%5Etfw">December 12, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h5><strong>How Does It Work?</strong></h5> 
<p>Here’s how the process works:</p> 
<ol> 
 <li><strong>Supply Your Assets</strong>: You start by using your cryptocurrency assets, like cbBTC, AERO, or weETH, and supply them to the Moonwell platform.</li> 
 <li><strong>Borrow USDC</strong>: After that, you can borrow <a href="https://www.altcoinbuzz.io/?s=usdc" target="_blank" rel="noopener">USDC</a> based on the value of the crypto you’ve supplied. USDC is a stablecoin, which means it stays about the same value as the US dollar.</li> 
 <li><strong>Load the Card</strong>: Once you have your USDC, you can load it onto your Moonwell Card. This card works just like any debit card—you can use it to buy things, make payments, or even withdraw cash.</li> 
</ol> 
<p>This new feature gives people more flexibility when using their cryptocurrency. You can keep your crypto assets and still use them to borrow money that can be spent in the real world. People are linking this card with Apple Pay. Here is an example:</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Even easier to set up my card on Apple Pay and use!</p> 
 <p>Got some breakfast this morning at <a href="https://twitter.com/JackBox?ref_src=twsrc%5Etfw">@JackBox</a> and used my new <a href="https://twitter.com/MoonwellDeFi?ref_src=twsrc%5Etfw">@MoonwellDeFi</a> card <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f64c-1f3fd.png" alt="🙌🏽" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
 <p>Really exciting times. Onboarding will be so much easier with tools like these. Great job <a href="https://twitter.com/search?q=%24well&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$well</a> <a href="https://twitter.com/circle?ref_src=twsrc%5Etfw">@circle</a> <a href="https://twitter.com/Cypher_HQ_?ref_src=twsrc%5Etfw">@Cypher_HQ_</a> team <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f44f-1f3fc.png" alt="👏🏼" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/1LsdWTCluL">https://t.co/1LsdWTCluL</a> <a href="https://t.co/B9xVbyPAiN">pic.twitter.com/B9xVbyPAiN</a></p> 
 <p>— VICO <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f47e.png" alt="👾" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Victooorious) <a href="https://twitter.com/Victooorious/status/1866953652105306302?ref_src=twsrc%5Etfw">December 11, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h5><strong>More About Moonwell</strong></h5> 
<p>November and December have been record-breaking months for Moonwell, with both total deposits and active loans reaching new heights. The platform saw a significant increase in users depositing their crypto assets, fueling growth in overall lending activity.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f31c.png" alt="🌜" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f31b.png" alt="🌛" class="wp-smiley" style="height: 1em; max-height: 1em;"> November and December have been record-breaking months for total deposits and active loans on Moonwell.</p> 
 <p>With the introduction of the Moonwell Card, these numbers are set to grow even further. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4b3.png" alt="💳" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/0uBi4UHht8">https://t.co/0uBi4UHht8</a></p> 
 <p>— Moonwell (@MoonwellDeFi) <a href="https://twitter.com/MoonwellDeFi/status/1866905888583455233?ref_src=twsrc%5Etfw">December 11, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>This surge in deposits also led to more active loans, as more users took advantage of the opportunity to borrow USDC and load it onto their Moonwell Cards. These record numbers highlight the growing popularity of Moonwell and its services.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/borrow-and-spend-crypto-with-the-moonwell-card/">Borrow and Spend Crypto with the Moonwell Card</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Borrow and Spend Crypto with the Moonwell Card

Altcoin Buzz

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