5 crypto leading platforms of 2022 that are safe
The world of crypto is way beyond buying and holding digital assets until their prices upsurge. Most of us are still in the belief that the crypto domain is like the stock market. This misconception is limiting the opportunities they can grasp. In case you’re curious about bitcoin trading check different websites such as bitcoin-pro .
If we scoop out deeper, we realize that there are several ways to earn from the crypto market. Crypto lending is one such way in this context. One might have heard about this concept. It is all about lending crypto and earning income in the form of interest.
The notion of lending relies on the traditional method. Except the mode of exchange is facilitated through a platform, unlike the fiat currencies.
Choosing a platform is similar to picking a brand providing the best merchandise. Here’s how we can side down at their features:
- Rate of interest
The platform that you choose must be dependent on the rate of interest of that particular coin.
- Fee charged
Make comparisons between different platforms that suit you.
- Limit of deposit
Examine if there is any certain amount of deposit limit.
- Collateral
To get a particular amount of loan among different platforms, compare the amount of collateral.
- Lending duration
Ensure that the duration is fixed or not.
- Risk involved
Examine the background of the platform in terms of the risk involved before lending.
In the vast arena of crypto platforms, here are some of the best ones:
- CoinRabbit
The Coin Rabbit has a quite simple interface program making it simpler for newbies on this platform. It runs on a non-KYC protocol that only requires your e-mail or phone number to create an account.
It offers an APR of 1.2% a month. Also to this, they give access to free withdrawals and an unlimited time frame for your loan. Passive income seekers can take the charge with no hesitation.
A 10% APY with zero extra charges is the best deal so far. The interest is to be paid on a daily basis and the profits can be withdrawn as per our convenience.
- SpectroCoin
This interface accepts ETH, BTC, XEM, and DASH as collateral. Based on the token a loan-to-value (LTV) from 25% to 75% can be chosen. The highest LTV is convenient for the most popular ones which are BTC and ETH. Anyhow, this choosing a high LTV causes a rise in interest rates.
The most captivating part is its flexibility in loans. We can avail as less as 25 euros to 1 million.
- Nebus
Nebus is a multi-functional platform facilitating borrowing, earning, insuring and trading your digital asset. They have a protocol offering great prices and four varied earning programs.
One can rent crypto here and earn 6.5% interest or one can also rent a stable coin and earn 12.5% a year.
This platform promotes the interest of all users. Their manual has two choices: quick and easy loans for meeting small expenses which cost 0% interest, and Flexible loans, The flexible loans are customizable according to the terms within 80% LTV, over 9 cryptos as collateral, and a term plan for 36 months.
- Blockfi
Blockfi is a versatile figure easing buying, selling, and earning cryptos. In case of emergency, funds can be withdrawn by staking your digital assets. Money can be borrowed at 4% APR and the process of opening a Blockfi account is simple and secure.
An 8.5% of APR can be expected on various cryptos where the gains will be on a monthly basis. For users lacking expertise in the area, a piece of complete information is given by the service managers. As for the experts, they receive immense support in solving their queries.
- Celsius
Celcius is a fine name for lending and borrowing cryptos. Lending crypto on a Celcius network gives returns up to 17% APY (annual percentage yield). The concept is available in both web and application formats. Besides this, there is no user fee charge while lending, borrowing, and transferring the tokens.
If we yearn for more returns up to 25%, we can opt to earn in CEL token (exclusive to the Celcius portal). In case of emergency requirements, you need not sell your token. One can just stake your collateral and borrow funds for interest as low as 1% APR (annual percentage rate).
