When it comes to selling your crypto for cash, there is a chance you neglect the potential growth of your investments. We don’t want you to miss a good piece of profit in the future, so we give you ways to get cash now, not selling your crypto.
What to do if you need cash, but don’t want to abandon your coins? Crypto loans are in high demand today, as no credit score required, you don’t need to meet anyone, sign anything and waste your time. Crypto lending platforms is the service that allows you to use your cryptocurrency as collateral and borrow fiat at a ratio.
Security is the main factor you have to consider when taking a bitcoin-backed loan. For our readers we have chosen the best crypto lending platforms with the highest interest.
- Celsius
Celsius network is a true competitor to the crypto platforms, sharing with its users 80% of the revenue so they can earn up to 22% Annual Percentage Yield (APY). With Celsius loans start as low as at just 1% Annual Percentage Rate, asking for no fees, but giving you 24/7 access to your funds. It's clearly seen that Celsius puts their users` interests first, giving the opportunity to everyone who signs up to have a successful financial life.
Celsius network makes their users give up on the traditional banking systems by offering the best quality services and asking for no fees, giving the highest interest and lightning fast transactions.
- Crypto.com
The Crypto.com platform offers their users to deposit crypto and get USD, TUSD, PAX or USDC credit. You receive crypto loan with no fees and deadlines, not spending time on signing documents and not worrying about any rejections because of credit score. On Crypto.com only you set your own rules, get the credit limit you want, gain it directly to your wallet and pay whenever you want.
Crypto.com makes paying with crypto as easy as possible to spread mass adoption, in addition giving their users receive up to 5% cashback.
- Binance Savings and Staking
Binance offers their users 24 coins for the flexible savings account. For instance, at the moment of writing this article, the estimated annual yields available on the platform are:
BUSD at 2.44%
USDT at 2.11%
DASH at 1.83%
For higher returns, you can use the Locked Savings product option. When subscribing your cryptocurrency to locked savings periods you will get a much higher interest rate in return.
Staking at Binance can be used for the coins that use a Proof-of-Stake mining mechanism. The platform offers their users to stake 24 different coins, with the returns varying between one coin and another. The highest yielding has KAVA (14-16%), LOOM (10-12%) and ZIL (8-10%).
- Unchained Capital
Unchained Capital is a lending platform offering their users dedicated collateral addresses on blockchain for easy monitoring. Unchained Capital gives 12-18% Annual Percentage Rate over a length of 3-60 months. The platform does not require a credit score.
Unchained Capital stores customers' crypto in dedicated addresses from the multisignature, cold storage wallet. That means no single-signature, no exchanges, and no 3rd parties are used.
- BlockFi
With BlockFi lending platform you can earn up to 8.6% on your cryptocurrency. You can choose 2 BlockFi accounts:
Crypto backed loan account
Blockfi interest account
Crypto loans allow you to access liquidity without selling your coins. By using your crypto as collateral, you can unlock up to 50% of the value of your assets in USD. BlockFi transfers funds the same day through wire or stablecoin.
The BlockFi Interest Account offers their users to put their cryptocurrency to work and earn monthly interest payments in the asset-type that they deposit. BlockFi clients can earn compound interest in crypto using interest accounts and significantly increase their Bitcoin, or Ethereum balances.
People use crypto backed loans to do anything from paying off credit card debt to buying a house or new car. Businesses turn to crypto lending institutions to help them with payroll financing and business growth. There are many advantages to borrowing instead of selling; for example tax benefits.
