The BEST Crypto Lending Platforms
best crypto lending platforms

The BEST Crypto Lending Platforms

By Makingdigital | makingdigitals | 5 Jan 2021


This year 2021 is going to strongly break into the cryptocurrency market due to the advancement of Dapps and decentralized platforms that act as digital banks to offer instant microloans.

We found two types of platforms that offer loans with cryptocurrencies.
On the one hand we have the centralized companies like Blockfi. In Blockfi users do not have control or govern the system, it is the Blockfi developers themselves who decide if they give you a loan or not. They are more rigorous with the requirements, you need to pass the KYC and even so, you do not make sure that the loan you have requested will be granted.
On the other hand we have the Defi. This is the case with MakerDAO. In this platform we can add liquidity to the market and also request a loan. The only rule to respect is to have a collateral that serves as a guarantee. If we do not have collateral we cannot request the loan. Defi offer great annual profitability and allow you to withdraw your money whenever you want. They have a penalty that will be charged to your collateral if the loan you have requested is about to be paid off. They do not require KYC and as long as you have collateral, no one will deny you a loan.

Within the decentralized microloan platforms in cryptocurrencies we have 4 that are the best on the internet:

1- Nexo. It is one of the most famous in Europe, it takes little time but its simple interface and the possibility of using your card gives it a lot of versatility when it comes to acquiring cryptocurrencies. It offers a 10% annual return on your deposits and an interest rate of 5.9%

2- Compund Finance is the second. Integrated with Exodus. Pay 3% for the DAIS you deposit in the pool. At the beginning, they were giving away COMP tokens to everyone who added liquidity on the platform.

3- Celsius Network is another respectable high quality Cryptolending. Up to 10% profit when depositing stablecoins and has the lowest interest rate on microloans. A luxury for anyone who needs cryptocurrencies quickly.

4- Finally I wanted to bring Aave. This Defi is going to stand out for being a pioneer in offering loans without the need for collateral. The truth is that we do not know how they intend to apply this since they do not require KYC or subscription to a virtual card. Pretty promising, nascent but promising.

Which one do you use?

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Makingdigital
Makingdigital

Entrepeneur, writer and Cryptolover


makingdigitals
makingdigitals

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