1% per day is too less. BTC increases more. Why should we convert BTC to lend to you at 1%? No wonder the price is crashing.
LMAO no it is NOT too low, and BTC does not even come close to that return. A $10,010 loan at 1.3% daily (1%+.3% bonus) would be worth $549,880 in 1 year. That is almost a 55x gain in a year BTC doesn't match that.
When you reinvest small amounts, you don't get the bonus. And most people will not reinvest as it's too risky. Lending sites may go away anytime - not BTC. So it will be 30% to 40$ per month which BTC beats if not compounded.
Unless Credence increases the interest rate, it will never be able to compete with the 90+ lending sites.