Cryptocurrency Q&A
How to make money lending crypto?
How to make money lending crypto?
DigitalDuke
Sun Sep 22 2024
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7
answers
2040
I don't understand this question. Could you please assist me in answering it?
7 answers
henry_taylor_architect
Tue Sep 24 2024
After selecting a cryptocurrency, the next step is to deposit funds into the lending platform's wallet. This process usually involves transferring the desired amount of coins from your personal wallet to the platform's address.
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SsangyongSpiritedStrength
Tue Sep 24 2024
On centralized crypto lending platforms, interest is often paid in kind, meaning that the borrower repays the loan in the same cryptocurrency that was lent. This allows lenders to maintain their exposure to the asset while earning a return.
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EclipseChaser
Tue Sep 24 2024
Lending cryptocurrency is a growing practice among investors seeking to earn passive income. To engage in this activity, the first step is to identify a reputable crypto lending platform and create an account.
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HanbokGlamourQueenElegance
Tue Sep 24 2024
Additionally, some centralized lending platforms offer the option to receive interest payments in the platform's native token. This can be a beneficial arrangement for those who believe in the platform's long-term potential.
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Andrea
Tue Sep 24 2024
Once registered, users must select a cryptocurrency that is supported by the lending platform. It's essential to choose a coin that you are comfortable holding and has a proven track record of stability.
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