CoinMarketCap now publishes cryptocurrencies interest rates
|It's hard to know whether cryptocurrencies should be more like traditional finance but it seems that they are moving that way and this is a giant step.
Data website Coinmarketcap.com (CMC) has started to publish the interest rates you can earn on your holdings through lending programs at different exchanges.
It shows what cryptocurrencies you can earn interest in and also what the borrowing rates are. So on the left-hand side you can choose your "coin of choice" and then look through the tabs to see what you could earn.
If you then click on the link it will take you to the page where the lending schemes are set up. If you are a borrower then you can do the same on the borrowing tab.
This is a good development in the crypto industry as traditional high street banks are offering terrible savings rates as looser monetary policy grips the world. The only issue I can see on the horizon is the lending rate vs volatility. If you lend BTC at 6% but then it drops 6% you are obviously out of the money. But if you are a "Hodler" and you are holding on to large amounts you can put your coins to good use.
The DiFi (crypto lending) market is growing but we have not seen any hard lending statistics yet. Once they are published we can then see the liquidity in the market and make more of an informed decision.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.