Cryptocurrency is among the best investments ever to happen to the world’s economy. With a lot of development happening in the crypto community, most Bitcoin enthusiasts can now enjoy the freedom to use their digital assets as collateral and receive instant cash in return. If you choose to invest your money in cryptocurrencies, it will be good to constantly check a trusted news website like https://etherdale.com/.
Several platforms support Bitcoin loan services, which provide its users with the best services online. To find these platforms, all you have to do is perform some research to find those that are mostly used in the market today. Be wary of scams still and read Paybal reviews by scam doctor. If you need solutions to help you in troubled waters, finance-wise, options such as credit union rates might be a life-saver.
With that in mind, here are platforms you need to know when trying to get a Bitcoin loan.
Get a Bitcoin Loan from YouHodler
If you have been in the crypto world for a while, then you have probably heard of this platform. It’s a Bitcoin loan platform that allows its users to use their BTC as collateral, and in return, you receive cash. Furthermore, the platform assures you of a 12% annual interest rate, which will depend on your deposits. The more you deposit, the higher the interest rates and vice versa.
Get a Bitcoin Loan from Nexo
If you are searching for a reputable and transparent platform, then you should try Nexo. It is a crypto-based platform that not only supports Bitcoin but other cryptocurrencies such as Ethereum and Ripple. To top it all off, they offer loans with a much lower interest rate of 3% depending on your collateral. When you think of it, this is just like free money. 3% is a number that one cannot recall. Therefore, investing with Nexo should be a trend.
Coinbase
Finding the best user-friendly Bitcoin loan platform can be hard at first. But with just a few clicks, Coinbase allows you to receive cash. To start, you have to sign in to their account, select the loan services, deposit your collateral, and start receiving cash. The good thing about Coinbase is that it is supported in most countries, hence putting you at the highest point in the market when it comes to trading, and also it allows you to interact with most crypto enthusiasts like those who put their trust in the best trade bots, who will help share new ideas.
BlockFi
Speed is a vital factor to check when searching for a Bitcoin loan platform. With BlockFi, you are guaranteed to receive the cash fast after you have completed the loan process. It has a high profit rate of 10% annually depending on your collateral. This is quite high, especially when you are not losing any digital assets at the end of the day.
Kraken
Why hold your Cryptocurrency, despite the fact that you can get BTC loan instantly by using your Bitcoin as collateral and receive profits of up to 7%? With Kraken, all you need to do is sign in to their account by entering your name and password. Go to the loan section and select the amount of collateral you would like to use, click the send button, and you should shortly receive a message showing that cash has been transferred to your account. The platform will immediately calculate your profit and let you know.
Conclusion
If you were planning to hold your cryptocurrency while waiting for the prices to go up, well, you can take advantage of this time and get a Bitcoin loan. This will help you receive profit in the future and also improve your crypto trading skills. If you are a newbie, the above article provides you with some of the best platforms for Bitcoin loans. (Click here for source link)