If you are looking to borrow or lend BTC, here are some of the best Bitcoin lending sites and P2P platforms that you can use for this particular financial service.
What Is Bitcoin Lending?
Bitcoin lending is similar to your regular bank loan, the difference being that you do not need to involve banks and government regulations, and the loan consists of Bitcoins.
This system provides creditors with profitable interest rates and borrowers with cheap loans. The deals are usually settled on peer-to-peer platforms which leverage Bitcoin technology to make everything fast and with low fees.
Bitcoin loans are like your standard term loan: the borrowed has to be paid back the money plus interest and fees over a pre-set period of time. These fees can be paid in fixed installments or all at once, depending on the chosen preferences. But since Bitcoin is decentralized and works without third-party management, your loan would be processed by other crypto holders.
On P2P lending platforms, crypto owners are connected with potential borrowers,…