July 25, 2024

Most people know about crypto-currency today and it is gaining huge popularity over any other form of currency. For those who might be confused, crypto-currency is a digital currency that does not have any physical form. All the transactions have to be done online and people can also invest in the same. More than ever, in the past 5 years, the impact of crypto-currency is huge and people are attracted to make an investment in the online currency system.

Greeneryfinancial.com provides all the information related to crypto-currency so that any individual can be educated on the topic. The trend in the current situation is of loans on the currency. Many of the platforms provide crypto-backed loans to the people who need the same. It might be a new initiation but several people are coming forward to invest and get loans on crypto-currencies. Loans through Bitcoin and Ethereum or any other form of crypto-currency as collateral is getting popular with the people. But the biggest confusion is which platform to choose.

Greenery Financial takes the burden of providing the top 3 platforms that provide crypto-backed loans to the people. Let us look at them one-by-one;

1.      Celsius Network: If you do not have any issue using a centralized platform, then this is by far the best option people can choose. They have rates lesser than 1% and sometimes even lower than that. The platform does not charge any loan origination fee like other competitors and they also do not charge a fee for early repayment of loans. The platform also provides a $20 sign-up bonus if a person refers another.

2.      BlockFi Lending: This is a decent alternative for Celsius Network. They provide fair rates where they charge a 2% loan origination fee and around 4% to 8% interest per year on the loans. When comparing to the latter, this might be higher but their charges are much fairer when compared to other options.

3.      MakerDao’s Oasis-Borrow: This is one of the best-decentralized platforms for loans. It has rates similar or even lesser than BlockFi Lending. The difference is that they do not take any loan origination fee. People get DAI and can support the Defi-Ecosystem by using this platform.

People can very well invest in crypto-currencies and take loans from any of the above-mentioned platforms. But it is important to understand the underlying risks that are involved. If you are confident enough to face the challenges and manage the consequences in the right way, you are good to go. For detailed information, visit greeneryfinancial.com.