Last Updated on November 25, 2020 by CryptoCreed
Getting a loan with traditional methods is not easy and it is very complicated. Since the launch of Bitcoin and Blockchain, many things got changed, and the way innovative steps taken by the blockchain community.
Bitcoin lending or we can say crypto lending grown very rapidly since its launch. There are already many crypto lending platforms that allow you to get a loan or lend your crypto.
Borrowing or Lending Crypto Loan Is Good?
Yes, it is easy and good. You can get a bitcoin loan or you can get a crypto loan with the help of different sites. Getting a crypto loan is good because it is fast, secure, and most likely anonymous too.
How Much I Should Invest As An Investor?
For crypto investors, it is really one of the best investing platforms. There are already many Defi coins that offer lending service, hence investing in Defi coins, for now, it is profitable but as we know crypto & investing includes risk.
You should invest only what you can afford to lose. If you have $1000 then invest $100 in Defi and $200 in other countries.
Crypto investment should be for the short term because we can’t predict the future of projects and their coins.
Is This Possible To Get Bitcoin Loan Without Collateral
Unfortunately, No, there is no such website that allows you to get a BTC loan without collateral. But still, there is some website that claims that you can get a crypto loan without collateral and can get bitcoin loan fast but this website is either scam or misleading you.
You can’t get a BTC loan without collateral, at least for now. So stay away from such sites that you can get bitcoin loan without collateral.
So, it is not possible to get an instant bitcoin loan no collateral.
I Can Get Bitcoin Loan Without Verification
With the traditional loan platform, you have to submit different documents but on crypto lending platforms you don’t need to provide much or nil documents.
There is some platform that asks for KYC but not all platforms do this. You can find the websites where you can get a bitcoin loan without verification.
Best Crypto Loan Website
As I said there is no site to get a crypto loan without collateral, so here is the site where you can get a crypto loan if you have to hold crypto in your wallet.
You can get a loan in bitcoin for having any other crypto coins.
Nexo was started in the year 2018. For now, they have more than 800,000 users. Nexo already completed the lending & borrowing deal of more than 3.1 billion USD.
You can deposit or withdraw in more than 40 supported cryptocurrencies, they are planning to add more Defi based token.
Nexo is a powerful securitized platform claiming military level security (256bit encryption). Users can earn up to 10% annual compounding interest For KYC or regulatory compliance, Nexo is using Onfido trusted by coinbase. Their wallets are supported by BitGo.
Bankera Is Now SpectroCoin
Bankera is originally known for crypto exchange at first but later they started working as a crypto lending service.
You can lend a minimum of 25 USD with 8 different supported payment methods. But for collateral, they support only BTC, ETH, XEM, & DASH.
The minimum APR is 6.95% and up to 10%.
Click here to visit and find a list of the best crypto lending platforms.