price: Best Crypto Lending platforms. How to earn on crypto loans in 2022

price: Best Crypto Lending platforms. How to earn on crypto loans in 2022

< Show Wisdom Collection: Best Crypto Lending platforms. How to earn on crypto loans in 2022article avatarMwila Wise

Listing Head @ Excoincial Exchange

Which crypto lending platform would you recommend and why?

Cryptocurrencies have made people create fortunes for themselves via participating in crypto lending and borrowing schemes. There are many lending platforms that favour huge APY and APR with vast security and good reputation. However, in 2022, banking institutions are coming on board and are taking with them ideas of DeFi and blockchain properties. I personally would recommend www.africuniabank.com which will be a digital bank with real life contact to people whilst based on blockchain technology. It will be one of the banks in the world that will digitalize its asset with a good monthly and annual returns of about 30%, transfer money like world remit into mobile money accounts and bank accounts for traditional money, buy Airtime credits and data bundles. It has its AFCASH crypto deployed on BSC and its own mainnet chain will also be deployed. The ecosystem is huge which includes AFRICUNIA TV station with a physical office; EXCOINCIAL Crypto Exchange; AGRICUNIA Bio Organic Farm that is currently producing healthy products in markets; JOINTIUM social media network akin to like Facebook; PANGRAM.CITY video streaming platform which is similar like YouTube; AFRICUNIA-DEX and many other products. Get to know the people that you will also be lending your money to, thus promoting reality verses virtual. Cryptocurrencies are only providing us ideas on how financial institutions should be runned affectively. In conclusion for 2022 project, I would recommend www.africuniabank.com and its huge ecosystem.

How to earn on crypto loans?

Earning on crypto is very simple you can actually deposit some funds directly from bank account or crypto which can be used as a collateral in AFCASH tokens or stable coins. Loan can be acquired by also by paperwork submissions in areas/places/countries where the bank is operating from, civil servants, govt workers and non governmental workers will be encouraged to apply. These loans vary from short term to loan term loans from weeks, month, and years.

What are the main risks in the crypto lending process?

There are many risks in crypto lending process; 1. Due to volatility in price movements, you end up making huge losses and fail to reply the loan. 2. Crypto platforms are exposed or open to many attacks like script attacks, rugpulls, and hashing attacks. Projects without known location would disappear without trace at any given time.

article avatarGREEN FOREST

trader

Which crypto lending platform would you recommend and why?

aave, because since the first appearance it has been growing, we can see the price in the market is increasing, they offer credit to benefit users, I believe their project can compete with other similar projects

How to earn on crypto loans?

we can do long-term staking or trade but of course with a big enough risk, for me, I choose to do staking so it's easier to do without having to constantly look at the market

What are the main risks in the crypto lending process?

if the market price is very unstable and easily slumped by market players, to minimize losses we need to do long-term staking, one has to be willing to take risks with the decisions taken

article avatarJohanan Orok

Engineering Technologist

Which crypto lending platform would you recommend and why?

Aave is a great lending platform. The reason is that it is competitive. If you do not like the rate of one lender you can always choose cheaper options. It's the flexibility for me. The disadvantage of Aave is the gas fee. Investors with little funds may loose a lot of funds if lending directly from aave.com , it can be very frustrating for investors with little funds. We all want to make money, but not spend all paying gas fee or transaction fee. I suggest those who want to use Saved, use on decentralized exchange as margin lending as that will save you massively from the fees. Another advantage of Aave is the Liquidity. It has huge liquidity, currently sitting at about $25 Billion. That's really huge and huge liquidity boost investors confidence greatly. The third advantage will be the community. Most Crypto enthusiast know that a great community is super support for any Crypto. My second lending platform of Choice will be Kucoin. Kucoin is a centralized exchange that offer margin lending. I love it because it's very easy to use especially for beginners. Binance on the other side is quite complex and beginners may not easily understand thier margin lending.

How to earn on crypto loans?

Kucoin is the best for me. Especially for startup. I noticed they give loan of up to 10x your initial capital. Meaning if you have $80, you can get a loan of up to $800 . That's a huge leaverage opportunity.

What are the main risks in the crypto lending process?

The main risk will be liquidation. Crypto currency market is a highly volatile market. Prices can fluctuate very excessively and it's very discouraging for beginners. collateral process usually involve the borrower leaving some money on the table which is used as collateral for the loan. If the coin or token price of that is being borrowed against goes too low beyond the "limit" and the borrower doesn't understand risk management, there is a high chance that they will get liquidated and loose thier funds even before they start making profit. As a ln extra advice, I suggest borrowers learn and understand risk management most importantly before venturing into any kind of Crypto borrowing. The knowledge will save them from a lot of avoidable losses.

article avatarReza Febriadi

Computer Technician

Which crypto lending platform would you recommend and why?

Binance. Why? I think choosing binance is the right choice. Because the crypto lending platform provided by binance can be done very easily. Apart from that, the undoubtedly important thing about binance is their all-encompassing security.

How to earn on crypto loans?

To get a crypto loan on Binance, you can do it by accessing the official website or software from Binance. Make sure we have a binance account first. After that go to the Crypto Loan feature. Click Start borrowing. Then Binance will verify your actions. For more details, you can check the following link https://coinmarketcap.com/alexandria/article/how-to-get-a-crypto-loan-on-binance

What are the main risks in the crypto lending process?

The most striking of the risks of Crypto Lending is the unstable price volatility of cryptocurrencies. Intermediary institutions on crypto credit are usually only used as credit in crypto currency, although there are also those who provide fiat credit.

article avatarPraise Olagbadun

Professional Author and Crypto Trader

Which crypto lending platform would you recommend and why?

I know quite a lot of crypto lending platform but can't recommend any for now because I've not used one before. It's quite better I recommend one that I've used before

How to earn on crypto loans?

The best way to earn on Crypto loans is by lending your idle assets to crypto lending platforms. But I must inform you of how risky it is. I've been a victim of a lending platform that kind of rug pooled and has ever since taken my time when it comes to making a decision on crypto lending platforms

What are the main risks in the crypto lending process?

The risks in crypto lending process are quite much. That's one of the reasons why I would advice a trader to have a thorough check on any lending platform before putting his or her funds into it 1. The platform can get rug pooled and flee with your funds. I've been a victim of this 2. The crypto space is a virtual one, leaving you with risk of loosing your funds to someone you don't know. This risk seems to be covered by platforms who necessitates KYC 3. Price fluctuations in crypto assets is another one. The collaterals used might end up not being worth up to 10% of the amount borrowed, leaving the lender at loss if the borrower doesn't return it.

article avatarJansugi Goguadze

Driver

Which crypto lending platform would you recommend and why?

Balance. The most simple, reliable and effective crypto platform in my opinion. It was founded in 2017. Has been serving the community for several years now. They have development, they are constantly adding new projects. I will especially emphasize the Dot auction - this is an example of how credible it can be. As well as various methods of cashing in or buying that make it comfortable. Another innovation from their side is the NFT market. And it is very important crypto sticking (30-60-90days) without risks. Stacking in pairs is a bit risky, but other exchanges are not as sophisticated. All of this tells them that balance is best. thank you very much.

How to earn on crypto loans?

There are various ways to generate money through cryptocurrency: 1- Buy cryptocurrency and keep it for several years. 2-Buy every month for the same amount, the price does not matter and you will make a profit in 3 years. For example, buy $ 100 cryptocurrency on the 5th of each month. 3- Buy on each dip and sell on the increase. Also on the stock exchange though the latter carries high risks. 4- Buy and stake. 5-Participated in new defai projects and lots of other things. But keep in mind that there are always risks and you have to choose well which cryptocurrency you are buying. thank you very much.

What are the main risks in the crypto lending process?

There are many risks when buying cryptocurrency. The platform where you buy, it is necessary to be time-tested and reliable, otherwise the platform owners can cancel it and lose what you put. Also, if you buy in a decentralized wallet, you may lose liquidity. It is also possible for prices to fall globally and if you do not have a solid nerve you can sell at a loss. Also scammers who are very active and if you switch to an unwanted link you will completely lose everything you even have. thank you very much.

article avatarJibril Ahmad Wudil

Community Case management worker, crypto trader

How to earn on crypto loans?

You earn interest on crypto or token you lend by staking it or trading with other token without having to trade the markets using an exchange. They enable borrowers and lenders to exchange money between each other to receive either a crypto-backed loan (paid in fiat currency) or earn interest payments on Bitcoin, Ether and other Tokens as the case might be.

article avatarEbenezer Oyeodini

Crypto Blockchain Technology expert from Port Harcourt, Nigeria

Which crypto lending platform would you recommend and why?

Binance loans platform is one of the best crypto lending services in the blockchain technology business because, firstly it does require so much qualifications to collect a loan from it. Secondly one of the good parts of Binance loan platform is that it afford you the opportunity to borrow several cryptocurrency including USDT and BUSD. Thirdly there are several cryptos that serve as collaterals including major cryptocurrency like BTC and ETH. Finally the loan terms in Binance loan platform are simple; 7,14,30, 90 and 180 days, which also allows repayment in advance and calculation is done hourly.

How to earn on crypto loans?

You can earn on crypto loans by lending out your cryptocurrency from your investment portfolio. This provide you with interest on investment. For example Binance exchange offers you several investment products through Binance earn platform for both fixed and flexible lending. You can earn interest on stablecoins like USDT that you plan to hold by lending them out.

What are the main risks in the crypto lending process?

There are several risks associated with crypto lending process. They include risk of price fluctuation. The fluctuating nature of crypto value can lead to margin calls, a situation where the borrower must put up more crypto as collateral to maintain the value of the initial collateral. Also crypto loan are not federally insured and stand the risk of security breach. Thus compensation is not guaranteed.

article avatarHabibu Abdullahi

Developer Associate

Which crypto lending platform would you recommend and why?

I have an account with Nexo(NEXO) I will recommend NEXO for their constant innovation, transference and accountability. Also, I like their services because if you deposit your asset has an insurance coverage, meaning that in the case of hacks or other incident you can get your assets back. Another landing platform which I like a lot is Anchor Protocol (ANC), in their case you can even borrow from the platform and earn interest rather than paying it, but the major difference is that it does not offer insurance.

How to earn on crypto loans?

As I mention in the previous paragraph if you deposit your money like USDT as collateral in NEXO you can borrow with some limit and that money that you borrow you can buy another crypto if the price goes-up you easily sales it, payback the money and hold the profit. Also in NEXO your deposit earn you a daily interest. In the case of Anchor, you borrow some USDT use the money in the platform to buy another token and at the same time earning some interest with that money that you borrow, but if market goes down there is possibility of your initial deposit to be liquidated.

What are the main risks in the crypto lending process?

Lack of sufficient insurance coverage, risk of your initial deposit to be liquidated and some project are not audited meaning it is very easy to be hack and a lot of people lose their hard earning money.

article avatarAri Iskandar Tanjung

Personal enterpeneur

Which crypto lending platform would you recommend and why?

$Cake on pancakeswap..cause many crypto join on their platform,and in the platform a lot of games and stakes by crypto and in it low fees on the platform

How to earn on crypto loans?

Stake or deposit on the platform choose any loan what you want,it have time loans few days or months even years,especially who make loan on the platform,you will get rewards

What are the main risks in the crypto lending process?

The developer could walk way from their website,or bug from website,the price could be down/decrease that make your assets minus few percent.

This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.

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