It is a new month, and you are probably looking for new ways to invest in cryptocurrency. Crypto loans are a quickly growing trend. Platforms that offer crypto loans lend you digital assets against deposited coins.
Furthermore, users get to earn interest on deposited crypto with rates that can go up to 16% APY.
Cryptocurrency is best known for its volatile nature; you never know when the prices will change. So, take advantage of the situation to grow your crypto investment today.
Various platforms support such services. In this article, we are going to look at some of the best crypto loans platforms to grow your investments.
Best Crypto Loans Platform: BlockFi
This platform is by far one of the most reputable cryptocurrency-lending platforms.
When you HODL your digital assets with BlockFi, you can earn up to 10% of your cryptocurrency annually, while getting an opportunity to borrow cryptocurrency against your saved coins at a lower rate.
All you have to do is sign up on their website and select the currency you want to save. Then, you will have your earnings in no time. They are very secure, and the services are affordable. Additionally, you can access your saved assets at any time.
Best Crypto Loans Platform: YouHodler
If excellent secure services are what you are looking for in a cryptocurrency loan platform, then you should choose YouHodler. This is a platform that mainly focuses on HODLing and lending digital assets for crypto loans.
It is highly secure; therefore, you do not have to worry about loan defaults or loss of assets.
Furthermore, investing in this platform guarantees you a 12% interest rate at the end of every year. Which when you think about it, is quite high compared to local banks.
Apart from HODLing, users can borrow cryptocurrency against saved digital assets. Their borrowing interest rates for crypto loans are very affordable.
Grow Your Investments With Nexo
If you have been part of the cryptocurrency community for a while, you have probably heard of Nexo. This is a crypto-lending platform that has made a name for itself as one of the most secure and reputable platforms.
They offer a lower interest rate of up to 3% based on collateral deposited.
The platform is available in most countries; hence, its users have access to a much larger trading market. Most importantly, you can HODL your digital assets with Nexo and earn up to 12% APY, which is compounded on a daily basis and deposited in your
Nexo wallet regularly. Instead of withdrawing the savings, you can use them to grow your investment.
Earn Interest With Compound Finance
This is a peer-to-peer crypto loans platform that allows users to borrow cryptocurrency. In this case, you will earn interest by HODLing your cryptocurrency or get a loan by using the same deposit as collateral.
The platform differs from the others in several ways. For starters, it is a decentralized platform, which means there is no third party involved. Second, rather than fiat currency, you will receive your interest in the form of tokens.
Compound Finance has built a good reputation very fast by ensuring asset security, speed of transactions, affordable services, and compelling interest rates for savings and loans.
It is a platform you can trust and use to grow your digital assets within a short time.
This is by far one of the most known cryptocurrency investment platforms. It supports various types of coins with Ethereum and Bitcoin included.
Although it is known as a CeFi exchange, Coinbase has diversified its products by adding a lending option. It allows its users to borrow digital assets against their saved crypto.
But the most interesting part is that investors get to earn interest on their savings. The APY changes with different coins and the terms under which you have saved.
Therefore, if you have some of your coins that are lying idle anywhere, let them earn interest on Coinbase while giving you the opportunity to borrow cryptocurrency.
With the number of people using cryptocurrencies growing day by day, finding the right crypto loans platform can be difficult. Kraken has proven to be a dependable cryptocurrency platform that supports over 30 coins.
Just like any other loan platform, you will need collateral in the form of deposited cryptos to borrow loans.
Additionally, Kraken enables users to earn interest simply by depositing their coins. Depending on your deposits, you can earn up to 10% interest.
This is a cryptocurrency loan platform that allows users to deposit cryptocurrency and earn up to 7% interest per year. It is extremely secure, so you do not have to worry about online theft or account invasion.
Furthermore, it supports over 20 coins, making it ideal for both local and international traders.
The most important thing is that you can borrow against your savings at a lower interest rate. Many crypto enthusiasts have benefitted from this platform, and you too can follow suit.
You can always confirm your instant crypto loan choice with a crypto loan calculator.
One tool for tracking currency quotes is the Currencylayer API. This API has real-time and historical information for 168 currencies around the world. Several validated providers bring in exchange rate data.”
Cryptocurrency has proven to be a game-changer in today’s global economy, offering investors a variety of ways to invest and earn interest through crypto loans. As a cryptocurrency enthusiast, the above article will provide you with the best crypto-lending platforms to help you grow your investments.
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