Top 5 Crypto Loan Providers (Crypto Loans) in the United States

Top 5 Crypto Loan Providers (Crypto Loans) in the United States

By Pavithra R

September 16, 2020

  • Blockfi
  • Salt loan
  • United States

Cryptocurrency is digital money. During the early days, it was seen as an easy opportunity for anyone to multiply their capital. But when the hype started to wane, many investors to avoid the consequences started selling their bitcoin while some continued to HODL.

The crypto lending and lending platform emerged during this time. Crypto lending platforms allow users to deposit their crypto as collateral and borrow fiat at a ratio. The interest rates of cryptocurrencies make users lend their crypto assets because users can get a higher return by lending their assets than by storing them. While the passive income benefit of crypto loans is pretty obvious, crypto loans can also allow an investor to add liquidity to their bank account without triggering a taxable event.

Interest on crypto fluctuates frequently, but in general DeFi platforms offer a higher APR across the board. The current pandemic has also attracted huge attention in this industry, when banks record negative interest that crypto lenders make money work for them. However, the sector is still in its infancy.

Below is a list of 5 emerging crypto loan providers (crypto loans) in the United States:

BlockFi (2017)

BlockFiThe platform provides investors with unparalleled capabilities in the digital asset ecosystem. The BlockFi Interest Account (BIA) allows users to earn compound interest on the type of asset they deposit. Customers using BIA can earn compound interest in crypto, dramatically increasing their Bitcoin, Ether, Litecoin, PAX Gold, USD Coin (USDC), Gemini Dollar (GUSD), and USDT (outside of the US) balances over time. time.

Recently, FinTech raised $ 50 million in Series C funding. BlockFi Being a fast growing company, its revenue has increased tenfold in the past year, which has brought it to $ 100 million in revenue over the next 12 months. According to company data, the company has $ 1.5 billion in assets on the platform, with a 0% loss rate on its loan portfolio since its inception. The company provides various wealth management products that crypto investors need, all powered by blockchain technology. FinTech is backed by investors such as Galaxy Digital, Susquehanna, Akuna Capital, Fidelity, Recruit Strategic Partners, Coinbase Ventures, CMT Digital, SoFi, ConsenSys Ventures and Morgan Creek Digital.

SALT loan (2016)

SALT was founded by a group of Bitcoin enthusiasts who aimed to prove that people don’t need to compromise their lifestyle or give up their needs in order to pursue a long-term view of cryptocurrency. Since then, the company has emerged to create not only crypto-backed lending technology, but also scalable, institutional-grade cryptocurrency custody and blockchain monitoring products.

As cryptocurrency becomes more adopted and additional real-world assets become tokenized, FinTech aims to offer solutions that allow people to hold and borrow securely against their crypto-assets. It offers cryptocurrency backed loans – cash loans by guaranteeing Bitcoin, Ether, Litecoin, Dogecoin, DASH, USDC, TrueUSD and PAX with more options continually added and offers flexible loan terms.

Capital Unleashed (2017)

Capital UnleashedThe mission of is to create a native bitcoin ecosystem that ensures that anyone can secure and maximize the value of their bitcoin holdings over multiple generations. The company offers cash loans to long-term cryptocurrency holders in a secure, fast and transparent manner, supported by our multi-signature cold custody solution.

Credit (2018)

Credit, founded by fintech veterans PayPal, is a decentralized global lending platform that facilitates open access to credit anytime, anywhere. The mission of FinTech is to harness the power of blockchain to enable everyone to benefit from low-cost credit products.

Cred is an approved lender and leverages a substantial balance sheet and proprietary technology to provide credit to businesses and individuals and enable its clients to generate returns on over 30 crypto and fiat currencies through its network of partners. . The company is a founding member of the Universal Protocol Alliance, a coalition of the world’s leading blockchain companies solving some of crypto’s toughest challenges. Recently, Cred joined Visa FinTech Fast Track Program.

Constant (2019)

Constant is a fully secure peer-to-peer lending platform. It offers interest of up to 11% of the APR and all loans are backed by a borrower guarantee, smart contracts or a buy-back guarantee. Borrowers can choose to be paid in stablecoins or fiat currency, and over 60 different cryptocurrencies are accepted as collateral.

Constant connects investors and borrowers to do business together. It aggregates investor funds into a loan pool or reserve and instantly matches them whether you are a borrower or an investor. Borrowers can choose to be paid in stablecoins or fiat currency, and over 40 different cryptocurrencies are accepted as collateral. Crypto guarantees and redemption guarantees protect investor funds while the custodian partner securely manages the movement of funds and collateral.

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