Lending money to create a secondary source of income has long been a well-used passive income generation method. The same concept can be used to earn interest through cryptocurrency. Just as with a bank, lenders are compensated through the interest earned on the money lent until the original amount is returned.
If you want to earn bitcoin through lending, you’ll need to access a Bitcoin lending platform. Bitbond currently ranks among the highest regarded platforms, though there are several other such avenues available online as well. The interest rate on Bitcoin can be as high as 10 percent or more.
You will need an initial amount of cryptocurrency before lending it out. You can generate your crypto through any of the methods mentioned here, such as Bitcoin mining or freelancing for bitcoin, or to just exchange it from fiat currency.
It’s vital to remember that there’s the possibility of default in payments just like a regular loan. Be sure to evaluate the person that you’re lending to carefully and establish a high level of confidence before lending bitcoin.
Other Sites for Bitcoin Lending and Borrowing
X Coins – This site lends bitcoin for a fee. You can lend or borrow bitcoin as a secured loan instantly.
Bitfinex – A reliable cryptocurrency exchange platform that supports margin funding, margin trading and peer-to-peer financing.
BTCPOP – This is a bitcoin lending network designed to provide loans, bonds and investments.
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