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Get 10%+ on Your Crypto! But is it worth the risk?
Questions to ask before transferring your funds
In November 2020, Cred, a crypto lending company filed for bankruptcy. They had been offering customers 4–10% APY on their crypto deposits, then suddenly, it was gone.
Cred suffered from a series of missteps that led to losses of $80–90 million of depositor’s funds. They had lent to a fraudulent fund, Quantcoin, and engaged in a series of risky loans in China by providing funds for derivatives traders, further they had lost customer money through a hack at a third party wallet provider.
Despite all of this bad press, the crypto lending industry continues to grow.
Get Cash without Selling Crypto
In a world of record low interest rates and negative yielding junk bonds, crypto lending platforms have arisen to provide investors with steady, high yields on cash and crypto assets. These yields are incredibly enticing, particularly with rising inflation and interest rates on savings accounts that can’t keep up.
