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?
For this type of purposes, BlockFi is still good one to choose. There are many platforms where you can get such things but the percentage will vary and I can't mention it right now from my end which specifically. But you already have experience and got 7%. The amount is not so bad. Already you got your answer by someone.