Recently i have read a lot of articles and there have been a lot of questions about crypto loans and interest platforms. Which one is the best ?
There are quite a few crypto loan platforms but i listed out the top 5 platforms based on proven fundamentals and users.
1.BlockFfi -BlockFi manages 100 million worth of crypto . That means they are quite Big. They offer 8.6% interest on BTC, ETH, LTC and some stable coins like USDC,GUSD and PAX. There is a withdrawal fee of 0.0025 BTC and their loans are also fixed for 12 months. There is no insurance on user funds which is an overall risky affair.They have very bad ratings on [TrustPilot](https://bit.ly/3g7y7ku)
2. Crypto.com- Crypto.com is mainly an exchange like Binance which offers loans and interest. They have more than 1 million users. They have issued around 100 million in loans. Crypto.com also offers highest interest rates of 18% per annum , but users need to lock up their own token of CRO token months.They also offer 8% on BTC, ETH,XRP,BAT,BNB.LINK etc . They keep adding more cryptocurrencies for earning interest. They also have a withdrawal fees of 0.0005 BTC . Their interest rates are quite favourable for end users. I have used crypto.com in the past and i am not sure how sustainable are those high interest rates. I moved my crypto to other platform to earn interest which i will explain later in this post. They have 100 Million Bitgo Insurance. They have 3 ratings out of 5 on [Trustpilot.](https://bit.ly/3aCYbmv)
3. Celcius- Celcius has given out upto 2 Billion in loans so far . The platform also offers 10% interest on stable coins and 4% on BTC and ETH and other altcoins. They also have 100 Million Bitgo insurance. They have less then 100,000 users and less than 2 million in profits. This is because most of their loans are through institutional investors resulting in thin margin. Celcius requires you to lock your crypto for certain time from 6 months to 48 months . They claim to pay 80% of the revenue, to their users which seems highly risky and unsustainable. They have a rating of 4 out of 5 on [Trustpilot](https://bit.ly/31Z9VvO)
4- Binance - Binance announced crypto lending and earning crypto interest in August 2019. Users can borrow USDT and BUSD from crypto collateral assets. They have loan terms from 7,14,30 and upto 90 days. Binance announced FDIC insurance for dollar deposits . Binance has SAFU emergency insurance funds for users. Users can earn crypto interest on Binance with their flexible and locked plans with variable interest rates. Binance also offers flexible and fixed staking of crypto assets, which in my opinion is a great option for unused cryptos specially some altcoins just stored in user's wallet. Binance is a huge platform with users worldwide and their rates are reasonable and seem less risky . Since this feature of crypro loans and interest are new in Binance , users will decide how will Binance execute this project compared to its competitors.They have 3 out of 5 rating on [Trustpilot.](https://www.trustpilot.com/review/binance.com)
5-NEXO- Nexo is a part of Swiss based company Credissimo which is a publicly traded consumer financial company found in 2007. Nexo was found in 2017 as a separate legal institution. Nexo has given out 1 Billion worth of loans with more than half a million users and its user base is growing .Nexo team efforts a lot on regulatory compliance . They also have 100 million worth of Bitgo Insurance. Users can borrow cash or stable coins at 5.9% , apr. They have various crypto assets like BTC and altcoins that can be used as collateral. They have no fees and payment plans are flexible. Their loans are completely flexible and no fixed time frame.The greatest feature is automatic loan approvals without credit checks. Credit lines are available from $500 to 2 million.Users can earn interest on crypto assets and Euro, GBP and USD. The interest rates on crypto assets are 5% and interest on stable coins are 10% compounding interest paid out daily. Nexo will soon launch collateralization with securities and other asset class. Users can borrow loans by sending stocks , gold certificates , house title etc. Nexo will be one of the main innovators in this aspect. Nexo is also continuously audited by Deloitte so we can assume how reliable they are . Nexo is fully automated platform which offers so many perks . There is no withdrawal fees . Trust Pilot has 5 out of 5 ratings on [Trust pilot.](https://www.trustpilot.com/review/nexo.io) I moved my idle crypto assets to Nexo from crypto.com to take advantage of their perks.
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