Earning money on cryptocurrency deposits, which is a part of the USD 5 billion crypto loan industry, has become increasingly popular. If a user plans on holding cryptocurrency long term anyways, it is logical to deposit the crypto on one of the crypto lending platforms and grow their crypto stash.
CoinMarketCap, which is perhaps the top site for checking how cryptocurrencies and crypto exchanges compare to each other, now has a directory that shows the live interest rates for depositing various cryptocurrencies on various crypto lending platforms.
Currently, the directory displays data from BlockFi, Crypto.com, Celsius Network, Binance, Bitfinex, Nuo, dy/dx, Compound Finance, Fulcrum, Nexo, and Coinbase, which is essentially a list of all the most popular crypto lending platforms. Interest rates paid for crypto deposits range from 1% to 10%, depending on the type of cryptocurrency and the platform used. Now users can figure out where to get the most bang for their buck by comparing rates between platforms.
That being said, crypto lending platforms are generally not insured, so users should do thorough research and read the terms and conditions carefully before making any investments.
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