What are the benefits of cryptocurrency lending?

Compared with traditional secured loans, crypto loans have unique features that can make them appealing for some crypto enthusiasts:

• Low interest rates: While they’re generally not as cheap as mortgage or car loans, crypto loans are an inexpensive alternative to personal loans and credit cards. You can often get a crypto loan with an interest rate below 10 percent.
• Loan amount is based on asset value: In many cases, you can borrow up to 50 percent of your portfolio value, but some exchanges go as high as 90 percent.
• Choice of loan currency: Depending on the platform and what you need, you can generally get the loan funds in the form of U.S. dollars or select cryptocurrencies.
• No credit check: Crypto lending platforms and exchanges typically won’t run a credit check when you apply, making it an incredibly attractive financing option for people with poor credit or no credit history.
• Fast funding: Once you’re approved, you can get your loan funds in as little as a few hours.
• Ability to lend crypto: Many crypto exchanges offer “interest” accounts that allow you to lend your own digital assets and receive a high APY — sometimes upward of 10 percent — in return.