What Are The Major Crypto Lending Platforms Operating In India?

As the returns from investing in stocks depleted, primarily due to the disruption caused by the COVID-19 pandemic, cryptocurrency gained wide acceptability among investors. Both individual and amateur investors flocked to the industry that promised decent returns even amid the economic slump that made many nervous. While cryptocurrency supporters say it offers a great opportunity to grow wealth rapidly, critics cite its extreme volatility. As the debate continues, this industry has grown multi-fold over the past two years. And it is still innovating and adding new features. One of them is crypto lending..What is crypto lending?.Crypto lending is a pretty new segment. It allows traders to obtain cash by utilising their crypto holdings as security, without having to sell their coins. Individuals may secure loans against their crypto assets, expecting the value of the assets to increase during the period of the loan. The aim of this type of investment is to allow those with cryptocurrency assets to generate some dividends by lending out part of their assets. Lending is usually available via crypto lending platforms..What is a crypto lending platform?.It is an online platform that allows you to lend your crypto coins in exchange for an interest. These platforms are used by two parties. One of them acts as a lender and the other as a borrower. Borrowers need physical (or fiat) money from lenders by depositing an equivalent amount of cryptocurrency with them as collateral..The rate of interest depends on the coin. The crypto lending platforms may charge you a fee for availing their services..What are the crypto lending platforms operating in India?.1) ZebPay.A multi-cryptocurrency exchange, ZebPay offers you two lending options: open term and fixed term. Under an open term deposit, you will be paid a return for the day. The returns will be deposited to your wallet daily. In case of fixed term, you can lend from a period of 7 days to 90 days. One can withdraw the coins even before expiry but there is a penalty..2) BlockFi.With a BlockFi loan, you can borrow up to 50 per cent of the value of your crypto. You can pay off a portion or the entirety of your loan as early as you want. There are no prepayment penalties or fees..3) CoinDCX.The minimum lending duration in CoinDCX is 7 days. You can earn an annual interest of 10.52 per cent. You can also cancel anytime you wish to do so..4) Vauld.The interest is calculated daily and paid out weekly. To earn higher interest rates, one can opt for the fixed deposits. Withdrawing is easy at Vauld and can be done anytime..5. Crypto.com.Another such platform is Crypto.com. It offers the option to borrowers to pay the loan in full or in part at any moment during the 12-month fixed loan period..6. Holdnaut.Users can earn interest rates by depositing their crypto assets into a Hodlnaut Interest Account. There are no lock-in periods or minimum deposits. There will be weekly payouts to the wallet.

What Are The Major Crypto Lending Platforms Operating In India?

NDTV Profit

NDTV Profit

Follow Us

DISCOVER US FASTER

DOWNLOAD THE APP