What Is Crypto Lending?
Is it possible to earn passive income without having high-level crypto investing skills and knowledge, and by just owning one type of cryptocurrency? The answer is, “YES!”
Welcome to the simplistic but highly lucrative world of crypto lending.
Read on and find out!
KEY TAKEAWAYS
- Definition of Lending
- How Do I Lend My Crypto?
Definition of Lending
The term “lending” is simply understood as the act of granting someone the use of something on the understanding that it will be returned. However, when used for business or investing, this term tends to carry more weight.
Also known as financing, lending occurs when an asset such as money or property is given by a lender to a borrower with the expectation that it will be returned at a specified time and with interest.
This definition applies in both Traditional Finance and Decentralized Finance, as well as in the case of lending cryptocurrencies.
How Do I Lend My Crypto?
Although the overall principle of lending essentially remains the same, the exact method or process involved differs from platform to platform. At Cake DeFi, however, lending your cryptos is not only simple and hassle-free, but also low risk.
What do we mean by simple and hassle-free?
First of all, users are not required to own various types of cryptocurrencies. To use our service, you must simply own either Bitcoin (BTC), Ether (ETH), USD Coin (USDC) or Tether (USDT).
How do you lend either of these?
Simply go to the lending section of our website, click the “ENTER” button displayed on your preferred crypto, key in your preferred amount and that’s it! You have essentially started generating passive income by putting your crypto to work through lending.
How safe is our lending service?
Of course, every investment comes with its own risks and challenges. To ensure that our users can make informed decisions, however, we provide transparency on the expected APY and a service summary on timelines and deadlines and other such details.
Also, users of our lending service benefit from the agreed upon safety measures and protection to be provided by our institutional partners in Singapore.
For more information about our lending service, you may watch this video by Cake DeFi CEO & Co-Founder Julian Hosp.
If you want more information on how to make money with your cryptocurrencies, you may read this article or check our blog section for other useful information on the topic.
If you want to use our lending service but are not yet a registered Cake DeFi user, you may click here to sign up and start generating passive income with us. You will get US$30 worth of DFI when you register successfully and make a deposit of US$50 or more, and allocate the amount for at least 28 days into either our Lending, Staking Freezer or Liquidity Mining Freezer service.
Thank you for reading this article. We look forward to seeing you “bake” passive income and generate cash flow with us soon!
