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– TIMESTAMPS –
1:30 What are crypto lending platforms?
13:24 Crypto .com
20:39 Closing Ideas
💸 Attempt A Crypto Lending Platform 💸
📝 Overview 📝
Need to earn passive revenue or do you want money however don’t wish to promote your crypto? Properly, there’s a technique to do all that through the use of a crypto lending platform.
On this video, I’ll inform you the whole lot you could find out about them and assist select the suitable platform for you!
❓ What Are Crypto Lending Platforms ❓
These platforms present two key companies:
► They will let you provide crypto to earn curiosity.
► To deposit crypto to get immediate loans.
However how do these loans work? In a nutshell, you provide up crypto as collateral and get a proportion of that collateral in both fiat or stablecoins. If the worth of crypto strikes towards you, in fiat phrases, then your crypto might get offered to cowl the excellent mortgage.
There aren’t any credit score checks in any respect and they’re normally immediately permitted. One other key motive individuals go for such a lending is to get money to spend in the actual world at the moment, while retaining possession of their crypto.
5️⃣ Blockfi 5️⃣
This lending platform operates out of NY city and was based in 2017.
You may get charges as excessive a 6% for supplying Bitcoin and eight.6% for stablecoins.
Safety can be a precedence right here and the platform is about as safe because the Gemini trade – that’s as a result of Gemini is its major custodian. I do have to inform you that Blockfi just lately did fall prey to a SIM-swap hack assault and a few confidential info was leaked because of this.
If you wish to get a crypto mortgage, you are able to do simply that at Blockfi by offering BTC, ETH or LTC as collateral. The usual loan-to-value ratio right here is 50% and the minimal mortgage quantity is a whopping $10,000.
4️⃣ Nexo 4️⃣
Nexo is definitely an offshoot of an organization referred to as Credissimo which has been in motion since 2007. Since 2018, Nexo has processed over $1.5 billion for over 550k customers. Which means this can be a rattling fashionable crypto lending platform.
Rates of interest are as excessive as 8% for belongings like Ether, USDC, Paxos, TrueUSD, Dai, Euros and GBP. On prime of that killer fee, you will get a further fee bump to 10% in the event you maintain sufficient Nexo tokens in your pockets.
When it comes to safety, funds are insured for as much as $100 million by way of Bitgo. Nonetheless, you will need to do not forget that the platform is centralized and wishes KYC.
For these eager to get a mortgage, you are able to do simply that for quantities between $500 and $2 million and also you’ll pay round 5.9% APR to make that occur.
3️⃣ Crypto.com 3️⃣
I’ve already gone over Crypto.com in one other video so I like to recommend you test that out!
2️⃣ Celsius 2️⃣
These guys have been in enterprise since 2017 and boast over 133,000 customers with over $850 million in belongings. The platform has additionally facilitated over $8 billion in mortgage originations.
Rates of interest listed below are as excessive as 11.9% in the event you settle for curiosity fee in CEL token and curiosity may be earned in a plethora of various forex stablecoins.
As a centralized platform, Celsius has all the safety shortcomings of the opposite platforms talked about on this video. That being stated, person funds are insured for as much as $100 million by way of Bitgo once more and Celsius has dedicated to utilizing its personal stability sheet.
There aren’t any minimal deposit quantities on this platform. That makes it good for anybody dipping their toes into the crypto lending waters.
If you wish to get a crypto mortgage, there may be a whole lot of flexibility with regards to LTV, collateral sorts and mortgage phrases. Oh sure, the minimal mortgage is barely $1,000.
1️⃣ Aave 1️⃣
Watch the video to seek out out why I’ve made Aave my primary choose!
📜 Disclaimer 📜
The data contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who will not be a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable danger of loss. The speaker doesn’t assure any specific end result.
#Bitcoin #Lending #crypto #defi #btc #nexo #blockfi #celsius #aave
Source: Coin Bureau