So, I have small amount of cryptocurrency I bought and mined over the years and will HODL, but I am seeing news articles and advertisements about earning interest on my coins. And the returns are not bad--5 to 7% per year.
It seems BlockFi is the front runner. They seem to have partnerships with the major US crypto exchanges, e.g. Gemini and Coinbase (I am in the USA). I am also googling and trying to educate myself.
But, I have serious concerns about learning my crypto to 3rd parties. What happens if the institution that I loan to, for example BlockFi, goes brankrupt? I assume I will lose my crypto. Would it be safer to loan to an exchange and I don't run that risk?
What are your experiences so far with loaning your crypto?
What place do you loan to, or recommend loaning your crypto to?
You have two options here, it's either you lend out your crypto or stake them for annual returns, the safest place to do this is binance exchange since the exchange have collateral funds in case anything goes wrong, also we have trust wallet and atomic wallet that allow staking in the wallet, there is no way to lose funds on this wallets, all you have to do is keep your recovery seeds somewhere safe