With these platforms you can lend crypto and earn interest, or take out a loan with crypto as collateral
Supported Coins: BTC, ETH, LTC, USDC, GUSD
Loan Terms: 12 months
BlockFi is a newcomer to the lending scene but has made a big splash in the crypto community with huge backers like Perter Thiel's Valar Ventures, Winklevoss Capital, and Galaxy Digital Ventures just to name a few. BlockFi allows you to take out a loan using bitcoin, ether, or litecoin as collateral, which means you can get cash for your crypto without needing to sell it. Users can also put their crypto to work with the BlockFi interest account and earn up to 8.6% annually. Who needs a bank?!
Supported Coins: BTC, ETH, BNB, XRP, LTC, TRX, XLM, BCH, EOS, PAX, DASH, ADA, ETC, IOTA, XMR, NEO, OMG, QTUM, VET, ZEC, ONT, XTZ
Nexo is the only insured, licensed & regulated global finance company that lets you borrow money instantly in over 45 different currencies when you deposit your crypto assets, users even have the ability to use a Nexo debit card to spend their money. Like other decentralized finanace applications, Nexo also gives you the ability to earn up to 8% interest for lending stable coins. Nexo is trusted all over the world by the biggest players in the crypto industry and is positioned to be a leader for many years to come.
Supported Coins: BTC, ETH, LTC, XRP, OMG, BCH, ZRX, XLM, DASH, TUSD, GUSD, MCDAI, PAX, USDC, USDT, TGBP, TAUD, TCAD, THKD, EOS, SGA, XAUT
Loan Terms: 6 months to 3 years
Celsius Network is decentralizing the banking sector by offering crypto-backed loans to people from countries all over the world. Offering an industry leading 9.75% interest on stable coins, Celsius gives its users a place to park their fiat-pegged crypto, bitcoin, and altcoins and pays them way more than a bank ever could, and they do this by giving up to 80% revenue share to their depositors!
Supported Coins: BTC
xCoins is a bitcoin lending platform where borrowers and lenders are matched together. xCoins tailors mainly to the United States where some people may need to purchase bitcoin but are restricted due to their bank or state, and would like to purchase directly via PayPal or credit card. Borrowers pay an interest fee up front when originating the loan, but since lenders can compete with each other, there will always be a fair market value for any loan.
Supported Coins: BTC, ETH, TUSD, LTC, USDC, PAX, XMR, BCH, USDT, BUSD, EUR
Loan Terms: 7 days to 3 years
CoinLoan was one of the very first crypto-backed lending platforms to exist, simply lend your bitcoin and earn up to 10.3% APY that accrues daily, that interest will then be paid out once a month and can in turn earn you even more interest. Of course they also provide loans which require you to deposit crypto, the entire process is very simple and they take security very seriously so your funds will be safe, overcollateralization ensures that both borrowers and lenders will be paid out.
Supported Coins: BTC, BCH, ETH, DASH, LTC, TUSD, UDST, XRP
Loan Terms: 3 to 12 months
SALT Lending has been around since 2016 and has served the crypto community with a very trusted crypto-backed decentralized lending platform, with loan terms starting at $5,000 and lasting from 3 to 12 months. SALT lending belives that security should be top priority, so not only do they generate keys and sign transactions offline, but they also provide both crime insurance and cyber liability insurace for its users, one of the few DeFi companies to do so.