If you engage with a reputable lender, you may get a bitcoin loan that is as safe as a typical bank loan. In the event of a default, most prominent crypto lenders have millions of dollars in fiat and crypto assets on hand so that neither lenders nor borrowers suffer any penalties.
We are going to cover the 7 best cryptocurrency loan sites.
Also Read: Crypto investing guides for beginners
The 7 Best Cryptocurrency Loan Sites 2022
For the year 2022, we’ve examined hundreds of crypto loan companies and selected the following 7 best cryptocurrency loan sites:
1. CoinLoan– P2P crypto borrowing platforms
2. AQRU – Earn Up to 12% APY By Lending Out Your Crypto
3. Crypto.com – Borrow Against 25 Popular Cryptocurrencies
4. BlockFi – Rates as Low as 4.5% APR
5. Nexo – Earn and Borrow with Interest Rates Up to 20% APY
6. YouHodlr – Borrow at Up to a 90% Loan-to-value Ratio
7. Bankera– London-based Firm
CoinLoan- P2P crypto borrowing platforms
CoinLoan stands apart from the crowd. It’s a pioneer in peer-to-peer lending for cryptocurrencies.
Instant BTC borrowing and lending options are available with a simple signup procedure and bank-grade security.
AQRU – Earn Up to 12% APY By Lending Out Your Crypto
Crypto lending platform AQRU is expected to begin in late 2021. While it does not currently enable clients to borrow money in exchange for their cryptocurrency, it does provide a lucrative interest-bearing account for crypto investors who want to lend their currency.
There are a variety of lending options available via AQRU. The annual percentage yield (APY) on US dollar certificates of deposit (USDCs) may reach up to 13%, which is more than 200 times the average savings account rate.
AQRU simplifies the process of making loans in numerous cryptocurrencies, allowing you to build a diverse portfolio with varying levels of risk and return.
Crypto.com – Borrow Against 25 Popular Cryptocurrencies
Want to purchase Bitcoin in 2022 from a reputable exchange? Lending out your crypto may be as easy as using Crypto.com, which provides both crypto-backed loans and income accounts.
You may borrow up to 50% of the value of your cryptocurrency assets with a Crypto.com loan. Bitcoin, Ethereum, Tether, USDC, and other prominent cryptocurrencies may be used as collateral on the platform. Most Bitcoin loans have an annual percentage rate (APR) of at least 8%.
BlockFi – Rates as Low as 4.5% APR
Zac Prince and Flori Marquez are the creators of BlockFi. Coinbase Ventures has invested more than $20 million in the business.
They get a good team with a large number of high-ranking consultants. In other words, they make an effort to deliver excellent customer service while also ensuring the safety of consumer cash.
Nexo – Earn and Borrow with Interest Rates Up to 20% APY
Michael Arrington, the creator of TechCrunch, is a major investor in Nexo, which was formed in 2017.
Nearly 200,000 people use their services, and they accept back payments in 45 different fiat currencies.
Some of the greatest crypto loans we’ve met may be found at Nexo as well. If your loan-to-value ratio is less than 20% and you’re a Nexo Gold or Platinum subscriber, you may borrow against your bitcoin at 0% APR.
Also Read: Best 5 cyrptocurrency stock to buy
YouHodlr – Borrow at Up to a 90% Loan-to-value Ratio
There are two primary locations for YouHodler: Limassol, Cyprus, where the company’s headquarters are, and Lausanne, Switzerland.
Their customer service and lending options have made them a rising star since they started giving fast crypto loans in 2019.
Customers in the United States cannot purchase YouHolder since it is only accessible in the European Union and the United Kingdom.
Also Read: Top 5 defi cryptocurrency to buy now
Bankera- London-based Firm
A group of Lithuanian technologists founded SpectroCoin in 2013 and turned it into Bankera, a London-based company.
The group developed a cryptocurrency exchange, wallet, and payment card based on the blockchain that can be used everywhere Bitcoin is recognized as a valid payment method.
Currently, the team has developed Bankera, a very effective tool for obtaining Bitcoins instantaneously.