Crypto loan platforms gain popularity
The investors in cryptocurrencies now count on cripto loan platforms to solve the need for capital, amortize debts or earn interest
The purchase and sale of cryptographic assets is a common activity these days and continues to gain support in all sectors of the global economy. Investors now have crypto loan platforms that allow them to obtain microcredits, amortize debts or earn interest.
While it is true that the value of bitcoin, litecoin or ETH fluctuates and in recent months has generated panic in the market, commercial activity remains and is currently strengthened with the emergence of crypto-loan platforms.
“Apart from obtaining traditional capital to cover certain needs, through crypto loans users can also earn interest on their currencies while retaining the ability to take advantage of the favorable price changes that may be experienced in the long term by the active crypto lying on their accounts.“
It is a popular alternative among members of the cryptocurrency community, as they provide additional benefits such as obtaining easily accessible microcredits and less punitive advance payment options.
They constitute an escape route for users who do not have access to the traditional financing system due to the ups and downs in their credit history or any impediment to obtain capital. In addition, crypto loan platforms are not subject to the same tax measures as the traditional banking system.
Among the best known is BlockFi Lending LLC, which allows the user to obtain capital in an hour and a half by using their bitcoin, ETH and litecoin. The client can request to receive the Gemini dollar loan amount (GUSD) in his crypto wallet. The initial processing fee ranges between 1% and 2%.
They can also be mentioned the recent launching firm Dharma; Nexo, founded in 2017 with the support of the European financial technology firm Credissimo; SALT that works with the Ethereum blockchain; Bitbond (Berlin) that offers peer-to-peer crypto loans.
Comments are closed.