Crypto Lending 101: Making The Most Of Your Idle Digital Assets
Cryptocurrency / 02.04.2024

Crypto Lending 101: Making The Most Of Your Idle Digital Assets

As the cryptocurrency market evolves, so, too, do the financial services built around it. Cryptocurrency owners can now even generate passive income through lending and securing loans using their cryptocurrency assets as collateral. However, in an industry notorious for bankruptcies and fraud, carefully navigating the complexities inherent to such financial services is extremely important. While there is no shortage of lucrative opportunities in crypto, balancing those opportunities with the safety of your assets should always be a top priority. Picking the right services or platforms is a major step in the right direction, but it's also useful to familiarize yourself with the financial products you're considering so you can make the most informed decision that doesn't jeopardize the safety of your assets. What Is Crypto Lending? Crypto lending falls into two main categories: earning interest by lending out your crypto and using your crypto as collateral for loans. The former allows crypto holders to earn attractive yields on their assets, ranging from a few basis points to double-digit annual returns in many cases. The latter allows crypto holders access to liquidity via loans at competitive rates without selling their cryptocurrency assets and creating a taxable event. Essentially, crypto lending platforms allow you to deposit your crypto assets to earn additional returns over time from those borrowing your funds, or you can be on the other side of the transaction, ...Full story available on Benzinga.com

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Read full article here: https://www.benzinga.com/partner/cryptocurrency/24/04/38043114/crypto-lending-101-making-the-most-of-your-idle-digital-assets

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