Many crypto owners have a long-term view of their investments. Although they plan to keep their crypto assets, circumstances sometimes force investors to sell their cryptocurrencies for cash. Instead of selling, investors can use their cryptocurrencies as collateral for a crypto-secured loan.
This allows them to maintain ownership of their money while still having access to the cash they need to fund their projects.
Get Cash You Can Spend Now, and Keep The Crypto You're HODLing...
Starting to see why billions in crypto loans are being lent out every year?
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Crypto-backed loans are one of the most efficient and effective ways to manage your cryptocurrencies when you need access to USD. Crypto loan provider customers use their loans for a number of different purposes, including:
- Pay your travel costs - use your cryptocurrency on vacation
- Pay high cost debt - refinance from credit card or student loan
- Business funding - access credit for your business using crypto
- Buying a home - a traditional lender will not allow you to pay for a home with crypto
- Diversify your investment - reduce the risk of your portfolio by diversifying
Clients register for a loan entering their requested loan amount, the cryptocurrency they want sections and KYC / AML information for identity verification purposes. The crypto loan provider doesn't test hard or soft on a customer's credit, so your credit score won't be affected.
It won't effect your credit score, and no one checks your credit.
Interest Rates WAY Better Than Banks...
The next thing you will notice is that our offers include a start fee, around 1-2% on average. This also depends on the applicant's loan amount, credit history, and location. Otherwise, you will see your APR, which is an easy way to show the total amount over the course of the year. Click here for more information on Interest Rates and APR, and the differences between them.
Your offer will also include the amount of crypto collateral you will need to hold in order to obtain your loan. will require more money to be sent as collateral, while high-end LTV will require less.
Making A Profit In The Crypto Lending World...
Don't need a loan and have some crypto you're HODLing? You can loan it to one of the major lending providers and get paid for doing nothing!
Earn great interest rates up to 12% with the coins you currently have sitting around - the loans are backed by collateral so there's no risk of you not getting your coins back. Many providers have insurance on top of this.
Recommended Providers:
Both have solid reputations, and enough past/present users saying everything went as described on their websites. But different laws in different countries means it matters where you live...
If you're outside the US: YouHodler.
Inside the US: BlockFi.
Good luck!
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