Zebpay launches Crypto-lending services: Here's all you need to know about crypto-lending

ZebPay, one of India's premier cryptocurrency platforms, has started India's first crypto lending platform through their crypto exchange app. As per Zebpay, the lending platform, they have launched a 'first of its kind' crypto lending solution in India and will allow crypto investors in ZebPay to use their cryptocurrencies to earn interest. The interest earned will depend on which cryptocurrencies investors lock in for lending. Read on to know more about what is crypto lending. 

What is Cryptolending?

As per ZebPay, crypto lending is the process of locking in crypto investments on the crypto lending platform, in order to earn fixed amounts of returns based on fixed periods of time. ZebPay has announced that the company will be offering open term lending as well as fixed-term lending. Investors opting for open term lending will earn day to day interest on their investments.

One of the benefits of open term trading is the option to withdraw your locked-in cryptocurrency at any time, without being fined. On the other hand, in fixed-term lending, investors can put their crypto into Zebpay deposit for a fixed amount of time, ranging from 7 days, 30 days, 60 days and 90 days periods. The rate of returns will vary in each lending period. 

Zebpay Lending Platform

The crypto lending platform called 'ZebPay Lending Platform' is already online and available on the ZebPay app. If users can't find the ZebPay lending platform on the app, they may have to update the App from the AppStore or the PlayStore. As of now, only a few cryptocurrencies are available to be staked for earning interest. These selected cryptocurrencies include Bitcoin, Ethereum, Tether, and Dai. As per Zebpay's official blog here are the annual interest rates offered on each currency.

• Interest on Bitcoin - 3 per cent 
• Interest on Ethreum - 7 per cent 
• Interest on Dai - 7 per cent 
• Interest on Tether - 12 per cent 

While crypto lending is new in India, many crypto international crypto exchanges have 'crypto staking' options in place. Binance and Coinbase have their own staking options for many cryptocurrencies. Moreover, cryptocurrencies such as Algorand and a few others have their own wallets where they can store lock-in their cryptocurrencies for earning interest. Stay tuned for more updates on cryptocurrencies. 

DISCLAIMER: The information provided on this website is for educational and entertainment purposes. The information provided on this website does not constitute investment advice, financial advice or trading advice. Republic World does not recommend purchasing any cryptocurrency. Crypto markets are highly volatile and crypto investments are risky. Readers should do their own research on cryptocurrencies and consult their financial adviser before making any crypto investments. 

IMAGE: ZEBPAY TWITTER