Along with well-known traditional bank deposits, a much more profitable and easy option has emerged – P2P lending. This concept is changing the world of finance, allowing individuals to lend and borrow funds efficiently and without any intermediaries. This has transformed the borrowing and lending landscape.
- Eliminating middlemen. P2P lending enables individuals willing to take up funds and those willing to give funds as a loan to cooperate removing the need for any financial institutions between them. This decentralization results in a more accessible, profitable, and clear lending process.
- Expanded access to capital. P2P allows more individuals and companies to borrow assets, even if they don’t qualify for loans from regular banks. If you have cryptocurrency, you can use it as a pledge to borrow funds avoiding credit checks or filling out lots of paperwork.
- Passive revenue. When someone lends their crypto, they can earn a percentage from the amount they’ve loaned. That means that asset owners can put their unused assets to work and potentially receive steady returns over time.
- Customizable loan terms. Borrowers can personalize their experience on P2P platforms by customizing their loan terms, such as choosing assets, durations, and deposit requirements. This freedom allows borrowers to negotiate terms that better fit their financial needs.
- Global reach and borderless operations. P2P lending crypto allows individuals from any part of the world to connect with each other without being restricted by geographic boundaries. This provides wider access to capital for those willing to borrow. Lenders can diversify their portfolios across several regions and currencies.
- Enhanced security. P2P platforms use blockchain technology to make lending more secure and trustworthy. This is achieved by employing smart contracts and cryptographic protocols that ensure the transactions are intact, automate loan agreements, and securely handle digital asset transfer as a pledge.
- Market-driven interest rates. Crypto lending platforms determine interest rates based on a market-driven approach, which considers various factors like borrower creditworthiness, market conditions, and supply-demand dynamics. As a result, borrowers can avail of competitive interest rates that are often more favorable compared to conventional lending options.
Loans on the WhiteBIT Exchange
WhiteBIT is a crypto trading and lending platform, well-known for its reliability and client-oriented interface. It offers from 0,4% to 24,85% returns from crypto loans. Your earnings depend on the plan you choose. There are 40 plans including the most popular digital assets. The WhiteBIT Earn tool helps implement lending plans and includes:
- a comprehensive view of the plans, enabling you to easily understand all the metrics, compare them, and select the optimal choice;
- a calculator which can assist you in budget planning, allocation, and profit estimation;
- a search function on the page allows you to easily locate any asset.
Read the WhiteBIT blog and find a guide on how to give your crypto as a loan step-by-step.