Crypto-to-Cash Lending is Growing Quite Popular These Days

Spread the love
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Crypto-to-Cash Lending is Growing Quite Popular These Days

Sharing economy

Over the past year, cryptocurrency-backed lending has grown very popular with organizations like Salt Lending, and Unchained Capital trying to capture a piece of this emerging industry. Projects like Salt Lending have issued millions worth of crypto-backed loans so far and the teams behind these digital currency operations believe crypto-to-cash lending is going to be a pretty big deal in the future. Furthermore, this week a company called Nexo also plans to offer a digital currency for cash lending platform and raised $50Mn USD in capital from venture capitalists like the Techcrunch founder Michael Arrington.

Also read:Six Alternatives to Telegram for Cryptocurrency Communities

The Crypto-to-Cash Phenomenon

Crypto-to-Cash Lending is Growing Quite Popular These DaysA new business model has formed recently called crypto-to-cash lending and this new financial sector is growing exponentially. The phenomenon follows the modern rise in recent years of peer-to-peer lending offered by financial giants like the Lending Club. Right now there are a few operations that are attempting to break the mold when it comes to this type of lending with projects such as Unchained Capital and Salt Lending taking the lead.

Then there is a new startup calledNexothat plans to provide crypto-infused instant credit to borrowers without the need for credit checks. VCs like the Techcrunch founder Michael Arrington, and others recently pumped $50Mn into Nexo and the company has a security partnership with Bitgo. Nexo believes it will be the first firm to provide instant crypto-backed loans as it states on its website:

Don’t sell your crypto — Don’t lose the upside potential — Get an instant crypto-backed Loan from Nexo.

Two Lending Projects Trying to Make a Mark in the Crypto-Lending Industry

Unchained Capital

Crypto-to-Cash Lending is Growing Quite Popular These DaysUnchained Capital is a firm that offers cash loans to businesses and individuals who provide Bitcoin Core (BTC) as collateral. The company believes cryptocurrency holders need a method to borrow against their digital assets without selling them. Unchain Capital’s interest rates are between 12.5-14 percent APR and funds are wired to a bank account of the customers choosing. Customers make monthly payments on the loan and once the credit is paid in full collateral will be reimbursed. Moreover, individuals can borrow up to $1Mn without a credit check and the ratio of loan appropriation is 50 percent.

If the value of the collateral drops by 25 percent Unchained Capital will request more capital. If the digital asset dips below the 45 percent region the company can repossess the capital to recover any lost principal and interest. Unchained Capital loans USD to American residents and businesses with options to renew a loan when it comes to term. Both individuals and businesses may want to utilize a loan for tax savings as borrowing removes the need to pay capital gains.

Salt Lending    

Crypto-to-Cash Lending is Growing Quite Popular These Days

Then there is another program called, Salt Lending, a blockchain-backed loan program built on top of the Ethereum network. SALT tokens are created from the ERC-20 branch. The Salt Lending platform is more peer-to-peer than Unchained Capital as it lends funds from a large group of Salt lenders. The project has gained a lot of attention and haslent over $40Mn USD worthof digital currency loans since the project’s inception. Further, the Salt Lending platform has accrued over 65,000 members in less than a year. Just like Unchained Capital once a loan is paid back on the Salt Lending platform then a borrower can obtain their cryptocurrency again.

According to Salt under Regulation D of 17 CFR § 230.501 et seq., all lenders are accredited investors who have passed a “lending suitability test.” There are various ways a lender will participate with the Salt Lending system and loans are processed using traditional financial markets. Salt users can borrow funds between $10,000 and $1,000,000 and no credit check is required.

A New Peer-to-Peer Lending Economy Emerges

Crypto-to-cash lending has been a trending business model in this industry for well over a year and there are other platforms trying similar ventures like Coinloan, Othera, Ethlend, and Everex. The popularity of this type of business is growing due to the many benefits loans like these offer such as lending without credit checks, and the ability to obtain fiat based off crypto reserves without paying capital gains. It’s likely there will be a lot more startups attempting to enter this market as the Crypto-to-cash lending economy is growing vibrant. 

What do you think about cryptocurrency lending projects? Let us know your thoughts on this subject in the comments below.


Images via Shutterstock, Salt Lending, Nexo, and Unchained Capital.


Need to find a specific transaction on the Bitcoin Cash network? Check out Bitcoin.com’s new Block Explorer today. Want to see all 500 cryptocurrency market caps in real-time? We got a destination for that too called Satoshi Pulse. 

news.bitcoin.com

49 Comments on “Crypto-to-Cash Lending is Growing Quite Popular These Days”

  1. You actually make it seem so easy with your presentation but I find this topic to be really something which I think I would never understand. It seems too complex and extremely broad for me. I am looking forward for your next post, I will try to get the hang of it!

  2. Hi! I simply want to give you a big thumbs up for the great info you have got here on this post. I am coming back to your site for more soon.|

  3. I am not sure where you are getting your info, however good topic. I must spend a while learning much more or understanding more. Thank you for fantastic info I was searching for this information for my mission.

  4. Wow, that’s what I was searching for, what a stuff! present here at this website, thanks admin of this site.

  5. Oh my goodness! Incredible article dude! Many thanks, However I am going through difficulties with your RSS. I don’t understand the reason why I can’t join it. Is there anybody else having identical RSS issues? Anyone who knows the solution can you kindly respond? Thanx!!

  6. I blog frequently and I truly thank you for your content. This article has truly peaked my interest. I am going to book mark your website and keep checking for new information about once a week. I subscribed to your RSS feed as well.

  7. Hey There. I found your blog the use of msn. This is a really neatly written article. I will be sure to bookmark it and come back to learn more of your useful info. Thank you for the post. I will definitely return.

  8. If you want to increase your familiarity simply keep visiting this web page and be updated with the most up-to-date news update posted here.

  9. Hi there, I discovered your website by means of Google while looking for a comparable topic, your website got here up, it seems good. I have bookmarked it in my google bookmarks.

  10. Lipofilling is a more recent technique whereby fat is removed by liposuction abdominal flap breast reconstruction, there is a risk of abdominal laxity (muscle weakness), bulges or hernias occurring. Fluid retention at the operation site (seroma) Some

  11. My brother recommended I may like this blog. He was totally right. This submit truly made my day. You cann’t imagine simply how much time I had spent for this info! Thank you!

  12. This is my first time pay a visit at here and i am genuinely pleassant to read all at one place.

  13. That is very attention-grabbing, You’re an overly professional blogger. I’ve joined your feed and sit up for searching for extra of your great post. Additionally, I’ve shared your site in my social networks!

  14. Thanks on your marvelous posting! I genuinely enjoyed reading it, you could be a great author. I will remember to bookmark your blog and definitely will come back in the future. I want to encourage continue your great writing, have a nice morning!

  15. Hi there, I found your web site by means of Google even as looking for a comparable matter, your site got here up, it seems to be great. I’ve bookmarked it in my google bookmarks.

  16. You really make it seem so easy with your presentation but I find this matter to be really something which I think I would never understand. It seems too complicated and very broad for me. I am looking forward for your next post, I’ll try to get the hang of it!

  17. Greetings from Los angeles! I’m bored to tears at work so I decided to check out your website on my iphone during lunch break. I really like the information you provide here and can’t wait to take a look when I get home. I’m amazed at how quick your blog loaded on my cell phone .. I’m not even using WIFI, just 3G .. Anyhow, excellent blog!

  18. This design is incredible! You certainly know how to keep a reader amused. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Great job. I really enjoyed what you had to say, and more than that, how you presented it. Too cool!

  19. Thanks , I have recently been looking for info about this topic for ages and yours is the greatest I’ve found out till now. But, what in regards to the conclusion? Are you certain in regards to the source?

  20. Link exchange is nothing else however it is just placing the other person’s weblog link on your page at suitable place and other person will also do similar in favor of you.

  21. I feel that is one of the so much vital info for me. And i’m happy reading your article. But should statement on some normal things, The website style is great, the articles is in reality excellent : D. Excellent activity, cheers

  22. These are actually wonderful ideas in on the topic of blogging. You have touched some good factors here. Any way keep up wrinting.

  23. Way cool! Some very valid points! I appreciate you penning this write-up and also the rest of the site is really good.

  24. When someone writes an article he/she maintains the plan of a user in his/her mind that how a user can know it. Therefore that’s why this post is amazing. Thanks!

  25. It’s an awesome paragraph designed for all the web people; they will obtain benefit from it I am sure.

  26. I read this piece of writing fully regarding the comparison of newest and preceding technologies, it’s amazing article.

  27. Aw, this was a really good post. Spending some time and actual effort to make a great article… but what can I say… I hesitate a whole lot and don’t manage to get nearly anything done.

  28. Undeniably believe that which you said. Your favorite reason seemed to be on the web the simplest thing to be aware of. I say to you, I certainly get annoyed while people think about worries that they plainly don’t know about. You managed to hit the nail upon the top and defined out the whole thing without having side effect , people could take a signal. Will probably be back to get more. Thanks

  29. of course like your web site however you need to check the spelling on several of your posts. Many of them are rife with spelling issues and I find it very bothersome to inform the truth nevertheless I will surely come back again.

  30. Hi, of course this piece of writing is truly pleasant and I have learned lot of things from it concerning blogging. thanks.

  31. Good day! Do you use Twitter? I’d like to follow you if that would be ok. I’m absolutely enjoying your blog and look forward to new posts.

  32. Your mode of telling all in this paragraph is really pleasant, all be capable of without difficulty understand it, Thanks a lot.

  33. If some one needs to be updated with most up-to-date technologies afterward he must be visit this web site and be up to date every day.

  34. My spouse and I stumbled over here different web page and thought I should check things out. I like what I see so now i’m following you. Look forward to going over your web page for a second time.

  35. My programmer is trying to convince me to move to .net from PHP. I have always disliked the idea because of the expenses. But he’s tryiong none the less. I’ve been using WordPress on numerous websites for about a year and am nervous about switching to another platform. I have heard very good things about blogengine.net. Is there a way I can import all my wordpress content into it? Any kind of help would be really appreciated!

  36. Hello just wanted to give you a quick heads up and let you know a few of the pictures aren’t loading properly. I’m not sure why but I think its a linking issue. I’ve tried it in two different browsers and both show the same results.

  37. I’m really impressed with your writing skills and also with the layout on your weblog. Is this a paid theme or did you modify it yourself? Anyway keep up the nice quality writing, it is rare to see a nice blog like this one nowadays.

  38. I blog frequently and I genuinely thank you for your content. Your article has truly peaked my interest. I will take a note of your blog and keep checking for new information about once per week. I subscribed to your RSS feed too.

  39. You can definitely see your skills within the article you write. The world hopes for more passionate writers like you who aren’t afraid to mention how they believe. Always go after your heart.

  40. Pretty component of content. I just stumbled upon your web site and in accession capital to claim that I acquire in fact enjoyed account your blog posts. Any way I’ll be subscribing on your augment or even I achievement you get entry to consistently rapidly.

  41. Hi friends, pleasant post and fastidious arguments commented here, I am actually enjoying by these.

  42. Currently it seems like Drupal is the top blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?

  43. Hello there, just became aware of your blog through Google, and found that it’s truly informative. I’m gonna watch out for brussels. I will appreciate if you continue this in future. Lots of people will be benefited from your writing. Cheers!

  44. What i don’t understood is if truth be told how you’re now not really a lot more smartly-preferred than you may be right now. You are so intelligent. You know thus considerably relating to this subject, made me for my part believe it from a lot of various angles. Its like women and men aren’t interested unless it’s one thing to accomplish with Lady gaga! Your own stuffs excellent. Always maintain it up!

  45. Hi, all is going sound here and ofcourse every one is sharing facts, that’s truly excellent, keep up writing.

  46. Hi! Do you know if they make any plugins to assist with Search Engine Optimization? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good results. If you know of any please share. Cheers!

  47. I am sure this paragraph has touched all the internet users, its really really pleasant piece of writing on building up new webpage.

  48. It’s an remarkable paragraph in support of all the internet visitors; they will get benefit from it I am sure.

Leave a Reply

Your email address will not be published. Required fields are marked *