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.
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
