I dont think thats true for those who know how to manage their money and are willing to use that money to grow. The basic thing that lending platforms based on bitcoin or altcoin based collateral loans is that the market movements are making them very difficult to sustain. We have seen several ICOs who did such projects like ETHLend SALT and now NEXO. However there were rumors that NEXO was the reincarnated version of SALT. Basically like all other ICOs they are not to be trusted with your money.

However a peer-to-peer lending business can be a small cap venture for a personal accredited investor. This sector may grow in future if crypto becomes more mainstream with availability of better collateral for borrowers to pledge.