Bitcoin has become a very valuable asset for a lot of people, who are well exposed to the features of Cryptocurrency. Cryptocurrency is the next generation’s unit of store of value and also the payment system. It is always advised to Hodl your crypto and not sell in adverse conditions. But while Hodling crypto is the most advised solution, you can also ponder to get some ROI on your savings, like we do from our Banks.

But unlike bank savings where your fiat keeps on losing value due to market inflation, your crypto will still be gaining value when in use.

The solution to get ROI on your crypto holdings is lending it, or better say P2P lending. There are a lot a platform for P2P lending of crypto in the market. Here what you will be doing is that some other people any where in the world want to borrow crypto by paying the required interest. These P2P lending platforms allow both the parties- lender and borrower to make a transaction and facilitate all the required infrastructure for this process.

The first steps to start P2P lending

If you have decided to make some profits on your Bitcoin, and chose P2P lending as the choice, then you need to find a trusted, compliant and technically robust platform to start with.

While there has been lots of websites for this, Btccredit can be a good option to start with.

However, first you sign up on the platform, complete the required steps of verification. Then you can deposit your Bitcoin in the given wallet and look for the available loan requests. You can choose any of the requests available or you may set your own conditions for lending with custom rates of interest, time duration, loan amount etc.

The platform insures the lender’s fund protection by reserving collateral crypto from the borrower. So if the borrower is unable to pay on time, or becomes defaulter, then your funds would be reimbursed from the collateral.

Hunting the safety guard

As a lender it always feels risky to lend money to someone you don’t know. And you can’t even do much to recover your funds if the borrower goes default. So there comes the tough responsibility of the lending platforms who try to ensure the fund protection and security.

With the technology available in crypto space, all the terms of agreement can be recorded on a public blockchain which cannot be altered in anyway later. So the first issue of data altering gets solved away. The next is the collateral facility for borrowers. One should always ensure that the borrower has deposited collateral before lending money on P2P platforms. Along with this, you can also check the credit ratings of the person and part history of loan repayments.

So with all these precautions and high level of security, P2P lending solution can provide you a way to earn some decent ROI on your crypto holdings and in turn, help someone in need.

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