Crypto Lending Platforms: What Are They?

Because the financial sector moves at a breakneck pace every day of every year, it can be hard to keep up with new developments in the space. However, crypto loans are worth understanding. When you use a crypto lending platform, you deposit your tokens on the platform and earn a high-interest rate, usually somewhere between 6 and 10% APY for stablecoins. If you want to take it one step further, you can also use DeFi platforms to add collateral, take out a loan without credit, and profit from the appreciation of both your borrowed tokens and your collateral. Sound better than a traditional? That’s because crypto lending platforms have taken personal finance to the next level.