Since Bitcoin is decentralized and works without the intervene of any government regulations, your loan would be processed from other Bitcoin holders. The best way to get an easy Bitcoin loan is to get it through a peer-to-peer lending platform. To get a Bitcoin loan from P2P platforms requires a process than typical banks. Oct 11, · The website claims that over 3, loans have been originated from over countries on the BitBond cryptocurrency lending platform. All the loans are bitcoin-secured and thus the repayment must be done on the platform itself. Since the platform offers no-limit investments, it has attracted a lot of traction in the community. See the best bitcoin lending sites and interest investment accounts. We list the best bitcoin margin lending and other alternatives to get the best yearly return. Also, we list alternatives for interest accounts as a passive bitcoin investment. Get % yearly return on your crypto holdings.
List of bitcoin lending platformTop list of leading Bitcoin lending platforms: trading crypto coins
The process for obtaining the Bitcoins remains pretty simple and basic. All you need to do is sign up or register on the service, give away your identifications details and verify your identity, and deposit the US dollars equivalent of the Bitcoins you need to borrow. You might even be asked some to submit a nominal processing fee to so be prepared for that as well. Now the service is as open to lenders as it is to borrowers.
If you feel that it would be in your best interest to lend some of your Bitcoins to borrowers in exchange for whatever fee the website has agreed upon, and are looking to make a quick buck, do sign up on this service. The first step for lenders, however, begins with deciding the amount which they are ready to lend. This is an essential part of the process since based on this very information, matches will be made between the borrower and lender. As far as customer support is concerned, although XCoins does provide an option to contact the website administrators or support staff for resolving complaints, it could potentially take several days before a proper and effective response is received.
Another peer-to-peer lending platform which specializes in Bitcoins, the BitLendingClub has been in service for a few years now and has managed to build considerable trust for itself over the years.
They even boast of a low transaction fee but the most exciting and intriguing aspect of the website happens to be the fact that they feature a Dutch auction that gives a platform for the lenders to compete in.
Borrowers can effectively go through a large number of lenders at one place through this auction and effective decisions on which lender to borrow Bitcoins from on the basis of their respective rates. Also, the fee on this website is almost always pretty low and absolutely no lending fee is charged to the right until the point that a loan is being paid off. Poloniex is a pretty famous exchange service, one of the best Bitcoin lending sites and happens to be the undisputed leader among a great many cryptocurrency exchange websites or services out there.
This diverse platform is famous and hugely successful for a number of reasons. First of all, it offers great liquidity options for a good number of Altcoins, which can then even be exchanged for Bitcoins. Founded way back in , and operating out of San Francisco, California, currently, the Poloniex developers have decided to make the residents of the USA the focus of their campaigns.
However, they do have plans to expand their business and extend support to other countries as well in the near future. Credible Friends is a peer to peer Bitcoin lending platform, which enables you to extend credit to friends. Unlike extant Bitcoin loan outfits, Credible Friends is aimed not at those seeking the loans, but at using the preferential lines of credit to allow people to enjoy Bitcoin and its benefits. It is a very easy to use platform. Once you create an account, you can either connect your social media accounts to the same or invite friends by email.
Once your friends join Credible Friends, you can add them to your list of people you can lend to. When you lend Bitcoin to someone, you receive an interest from which you can gain a profit.
Credible Friends ensures that the lender gets paid their full amount. Some borrowers may not be able to pay in time, in which case they will incur an overdue fee. The credibility of the borrower is for the lender to judge, based on their personal relationship, mutual understanding as well as the trust that they have in them. The credibility of the borrower can also be judged based on the various feedbacks and reviews on the app which are given by other lenders.
Nebeus is a Crypto Bank, based out of London. It is a cryptocurrency platform which is used to create and consume financial services and products. Two of their achievements is introducing the Nebeus Crypto debit card and making available crypto-collateral loans in Bitcoin and Ethereum. Nebeus is a step beyond all the other regular cryptocurrency apps as it allows you to convert cryptocurrency into Fiat.
Thus, letting you spend it freely, without worrying about all the restrictions that come with digital currency. The Nebeus debit card also converts cryptocurrency into Fiat. The card can be topped up with all of the major cryptocurrencies and you can directly withdraw Fiat money from any ATM around the world. You can also use the card to pay for goods and services, which is possible without the merchant even accepting the cryptocurrency as the debit card automatically converts cryptocurrency into Fiat currency.
The minimum profit a user can expect is The interest rate can be decided by the lender, but it should be between 0. Nebeus ensures that the market variations in the price of the cryptocurrency does not impact the loan, thus all of the refunds and repayments are made in Bitcoin. This fee is charged only after the loan has been fully repaid and the customer has been notified of the same via email.
This Debit card by Nebeus bridges the huge gap between digital currency and accessibility. It does so by offering the very simple conversion of the cryptocurrency into the Fiat currency which is widely used by everyone around the world. The process of acquiring a Bitcoin in itself has become a major industry. There are various ways for you to get a few Bitcoins of your own. You can either buy them from an exchange service which you think is good enough to cite a reasonable exchange rate, or you could buy a cryptocurrency mining rig for yourself.
As listed above, some websites are also known for btc lending. These heavyweight machines are pretty heavy on energy consumption and are also somewhat difficult to manage since they end up making a lot of noise when switched on. As a result, a lot of people consider them a hassle and shy away from actually buying one. If you do manage to get it though, there are chances that you will end up making some good money for yourself since a few models of these miners are highly efficient and productive.
Furthermore, there is another lesser used form of acquiring Bitcoins that not many people are aware of. You can always score a few coins by playing Bitcoin earning games on the Internet. These games are carefully and specially designed to be fun and creative and also let you earn Bitcoins in the process. Your email address will not be published.
BitBond 2. Table of Contents. Leave a Comment Cancel Reply Your email address will not be published. Additionally, the platform is incredibly transparent. CoinLoan offers borrowers the added benefit of being able to preserve their crypto assets with flexible lending conditions, no credit checks, and convenient withdrawal methods.
As for lenders, CoinLoan offers several guarantees. The platform is registered and licensed in the European Union and is, therefore, subject to EU financial law, which offers unparalleled protections for consumers.
Repayments are guaranteed, and all transactions are SSL-encrypted. In fact, since opening in July , every lender has received their repayments in full and on time. With offices in Cyprus and Switzerland, YouHodler is a fintech platform focused on crypto-backed lending with fiat, crypto, and stablecoin loans. As a result, users can obtain a higher credit line for a lower deposit.
Unlike P2P crypto lending platforms, there is no need to find a creditor. The platform takes a different approach from most crypto platforms; YouHodler works with the banks instead of avoiding them. This allows YouHodler to partner with trusted fiat payment providers and hold its fiat funds in the most reputable banks in Europe to ensure their safety.
One of the few platforms registered in the United States, SALT Lending was one of the first crypto lending platforms to hit the market back in and has continued to grow ever since. The process for getting a loan is very straightforward. The terms of a loan are completely customizable. SALT Lending also operates in over thirty jurisdictions including 46 US states , making it one of the most comprehensive when it comes to availability.
All loans are backed by assets that have been insured and all crypto assets are held in cold wallets. Additionally, SALT Lending goes above and beyond by insuring all digital assets against theft or fraud. These protections should be the industry standard, and SALT Lending sets the bar high for competitors when it comes to security.
Based in India, Nuo Network is a decentralized crypto debt marketplace where users can instantly borrow or lend Ether and other ERC tokens. Lenders can supply tokens to the reserve pool, and therefore, earn interest which can be paid out on a daily basis. As for borrowing, Nuo allows users to over-collateralize their loans which can be withdrawn from the platform or under-collateralize a loan which can then be used for margin trading.
Additionally, Nuo leverages meta transactions, which allows users to easily access the network without ever having to pay transaction fees. Interest rates vary depending on the cryptocurrency. Helio Lending is the first licensed and regulated cryptocurrency lender based in Australia.
The platform provides cryptocurrency holders a secure way to access fiat funds without selling any of their cryptocurrency. Helio Lending prides itself on speed; most loans are approved on the same day as application, with terms clearly laid out for users. The platform supports the four major cryptocurrencies: Bitcoin, Ethereum, Ripple, and Litecoin.
Once the terms of the loan are agreed to, your crypto is transferred to a specially secured wallet as collateral for your loan. Then fiat currency is instantly transferred to your bank account. At the end of your loan, you can take your crypto back or use it to refinance another loan. Registered in Singapore, Bank of Hodlers lets users lend, borrow, buy, sell, and swap on their platform.
For lenders, interest is calculated daily and paid out on a weekly basis. The interest rate depends on the cryptocurrencies you have. For borrowers, the terms are even better. Users can pay back a loan on their own time in any number of installments. The interest on the loan is only for the loan duration, and there are no additional charges or hidden fees.
Based in the United Kingdom, Tokens. One of the biggest advantages of the Tokens. Additionally, the process is instant, so there is almost no waiting to receive your funds. To borrow on Tokens. It is important to keep in mind that as of right now, Tokens. After hitting the market in , US-based BlockFi has gone from strength to strength. Similar to the other loan platforms on this list, BlockFi lets you use your crypto as collateral for a loan.
Based in Switzerland, Nexo was one of the earliest crypto loan platforms and was the first in the world to offer instant loans. Much like most other loan platforms on this list, Nexo lets users use their crypto as collateral for fiat loans. There are no minimum repayments, no hidden fees, and loans are instantly available with no credit checks. For lenders, Nexo offers the opportunity to earn interest on both fiat currency and stablecoins, with other crypto options coming soon.
Get yours today! Celsius Network has become one of the most popular crypto lending platforms on the market, and for good reasons. Once again, the platform lets you use cryptocurrency as collateral for a fiat loan.
The platform is making big waves in the corporate sector too. Celsius Network has helped introduce crypto lending to over one hundred institutions, and is taking big steps to ensure the long term success of crypto. With headquarters in Estonia, Squilla is one of the newer players on the market but offers a wide range of benefits to users. Security is of the utmost importance to the crypto lending platform. Terms for both borrowers and lenders are customizable and laid out clearly before committing to a contract.
Squilla also focuses on low fees for its users. Hopefully, with time, Squilla will continue to expand its options. Part of your reputation is naturally based on your repayment history on the platform, so it may take slightly longer to get the best deal over other platforms. To build up your reputation on BTCPOP you can take out and repay a small loan, transfer your reputation from another platform, participate in the community, or have someone on the platform vouch for you.
Currently, the platform only offers BTC loans and supports a wide range of altcoins. Not only does the platform offer crypto loans, they also have an exchange, a wallet, and a VISA card. When it comes to lending, Crypto. Users can deposit crypto as collateral for a loan and be instantly paid out in their choice of stablecoin. There is no deadline to pay back the loan, and no credit check is required. While SmartCredit. The decentralized platform focuses on peer-to-peer loans.
Compared to other platforms on the market, SmartCredit. As the crypto lending platform is P2P, loans are not instant, and require cooperation between borrowers and lenders. Naturally a better score means a lower interest rate. One of the largest crypto exchanges in the world now offers crypto loans! As of March , Binance users can now use their cryptocurrency as collateral for an instant loan. Binance Loans supports a range of varying loan periods, with interest calculated on a daily basis, as well as the use of several coins as collateral, including BTC and ETH.
So far, Binance Loans seems to be focusing more on short term loans the maximum lending period as of today is 90 days but it is likely that they will expand this in the future.
However, the platform is extremely strict about overdue loan payments; after three days your collateral will be sold off so make sure that you are able to pay it back in time.
Based in the United States, Unchained Capital offers cryptocurrency loans and claims to have one of the most secure platforms on the market. Unchained takes a unique approach to custody and securing your loan. By developing a multi-signature model of storage, they eliminate the single point of failure model of crypto custody.
Not only is your collateral secure, but the loan process itself is relatively quick; you can be approved the same business day as your application. Loans can range from anywhere from three months to three years, giving you plenty of options. Interest rates vary depending on loan length, loan amount, and which US state you live in.
Rather than taking out a loan in fiat currency or stablecoins, on xCoins you can use fiat to take out a Bitcoin loan. It is one of the only platforms on the market that supports PayPal, which makes it a unique offering. However, xCoins does have a couple of downfalls.
First of all, it is only available in a few countries. While Bankera has been in the crypto space for a while, their loan platform is relatively new, launching in the fall of It has a number of standout qualities that make it a strong competitor in the space. Loans can be withdrawn through a number of different fiat and cryptocurrencies, however the only fiat currency currently supported is EUR.
MoneyToken is a UK-based crypto lending platform. Since the platform is decentralized, it matches up potential lenders and borrowers with each other for crypto loans using artificial intelligence. The use of AI makes the process faster and less expensive, which keeps the interest rates and fees down.
Borrowers will still need to deposit collateral for their loan. As MoneyToken is a relatively new crypto lending platform it launched in February , a few of its services are limited.
While MoneyToken is new to the industry, it will be interesting to watch them continue to develop. The crypto lending platform has a lot to offer including extensive security measures and a robust collateral process. The platform has an intuitive and friendly interface which makes it suitable for complete crypto lending beginners. Should you need assistance at any time, there are multiple Customer Care channels and there is prompt resolution for all inquiries and issues. Based in Japan, Liquid is a next-generation cryptocurrency trading platform that makes financial services accessible to all.
The platform provides trading, exchange, and next-generation financial services including crypto lending powered by blockchain technology. What makes Liquid unique is that they only offer crypto lending.
Lenders put together their own loan terms including the interest rate then offer it to margin traders who pay back the loan once they are finished. While Liquid is more advanced than some other crypto lending platforms on this list, it offers a great potential for those looking to make use of their crypto, and for margin traders too.
Based in Estonia, Coinsbit is a company that provides both cryptocurrency exchange and lending services. Coinsbit is unique in that they offer peer-to-peer crypto lending.