Crypto-lending is on the rise with Celsius Network surpassing $1 billion
One of the fastest growing sectors within the cryptocurrency space is cryptocurrency lending.
Here platforms offer a range of services, both for borrowers looking to get some extra funds but also for cryptocurrency holders that want to take advantage of the interest-earning part and lend out their cryptocurrencies.
And one of these crypto lending platforms that are making headway, and showing some big volumes is Celsius Network.
Celsius Network lets crypto-holders earn interest rates up to 11.90% annually which is starting to compete with fiat money savings accounts and other types of investments.
They also provide borrowers with a direct way to get alternative fundings via crypto-backed loans. Here a borrower puts down Bitcoin, Ether, Litecoin or another cryptocurrency as collateral and then they can take out cash or stablecoin loans.
https://gocryptowise.com/blog/crypto-lending-is-on-the-rise-with-celsius-network-surpassing-1-billion/Does anyone here take advantage of this so called crypto-lending. Base on the reports, I was astonished to see that $1 billion has been surpassed already. Are crypto and non-crypto users are taking advantage of this platform? Or does it makes sense to use this platform to loan instead of the banks? Please enlighten me for sake of discussions.