In our last posts, we spoke about How Crypto Backed loans are different from peer-to-peer loans, what are the different types of crypto loans, advantages of crypto-backed loans, Risks associated with crypto lending, and crypto lending platforms in US. Continuing our discussion further on Everything you need to know about Crypto-backed loans, today we would talk about different crypto lending platforms in UK.
A quick look on Google Trends for the term crypto loans indicates the growing interest of individuals, enterprises, and customers. The trend also suggests an opportunity for enterprises to tap onto and come up with innovative solutions, just as the startups from the UK are pioneering the art of crypto lending.
Crypto Loans Platform in UK
Kambo values your crypto and offers blockchain based loans for long-term hold with an easy supply of cash. The company established in 2010 intended to provide individuals with cash without selling their cryptos. They have their offices in 18 countries and allow customers to avail loan against Bitcoin and Ether.
Their working model is simple where the user needs to sign up and specify the loan amount and submit the application. The borrower needs to transfer their cryptos on to the Kambo secured wallets, and within an hour 50% of the blockchain assets market value would be deposited into your bank account.
Nebeus, a startup from London offers Loans by using Bitcoin as collaterals; they also have a Loan Calculator that could help you in analyzing the ROI of the investment made. The loan is usually dispersed within 24 hrs after submitting the loan request and could be availed by customers outside of the EU. It also provides users with the opportunity to have fiat loans against BTC and ETH for 20% interest rate. Nebeus also have other offerings like Nebeus Prepaid card that allows the customer to use the card to get instant access to your crypto. You can also withdraw cash through ATM or pay in any shop. They also have a Digital Exchange that facilitates buying and selling of cryptocurrencies
Celsius another start-up from UK allows its customers to deposit BTC, ETH, LTC into a mobile wallet and earn a regular interest. In case the person is in need of cash, he could also opt for a crypto loan in Dollars where your cryptos are used as collateral.
With a tagline Crypto for the people, the interest earned via loans is redistributed to its HODlers in CEL token within the Celsius network