What's your favorite crypto loan platform?

[jrrsparkles]

Cryptos are not really loan friendly, DeFi hype is over a long time then NFT and now Memecoins is the trend. If it's possible for a platform to provide loan without collateral then it would end up being trend again but who is going to take such risk?

[KupaCrypto]

Lending and borrowing of crypto assets has become an integral part of Defi over the last few years however, most of the platforms are faced with one issue or the other.

One of the major concerns especially from the borrowers has been the issue of over- collateralized loans with on-chain asset but am excited to announce to you all that this challenges has been taken care of by Goldfinch.

One of the unique standing point of Goldfinch is its unique credit model "trust through consensus" that evaluates borrowers creditworthiness based on their past behavior. In addition to this unprecedented approach, Goldfinch also accept off-chain assets and income as collateral marking a departure from the crypto lending norm.

With over $100M loans facilitated as far back as April 2023, Goldfinch has gained the heart of many crypto lovers and the company currently operates in over 28 countries including the U.S. A, Brazil, Mexico Asia, Nigeria and several others with goal of expanding to over 100 countries.

With Goldfinch, the issue of funding delays, Gatekeepers as evident in the traditional banks is eliminated giving users assess to the needed resources when it matters most. Similarly, LP enjoy an amazing passive income while borrowers enjoy incredible flexibility on their borrowed assets.

The native token of the Goldfinch GFI has witnessed incredible growth with potential to reach an unprecedented height as adoption continues to be on the rise. GFI has seen over 226% surge in the last 30 days with TVL exceeding $500M. The recent listing on other top CEX like Bitget indicates the demand and interest in the token which could further propel it to a new height.

With GFI use cases, I think it's a matter of time before the traditional bank losses its value especially with bogus interest rates charged for borrowing. Am super excited about Goldfinch growth and hope they keep the momentum going. What are your thoughts? Let's have your take.

Before considering a loan app to be the best, there are some quality you need look at for and they includes the following
1. Automation of contracts: automation of contracts is a very important aspect to look into before recommending a crypto loan platform because most platforms still uses smart contract,  Self moderated contracts, where the terms of the contract are written into code, enhancing the security of lending process.

2. System valuation: most of these platforms often monitor the values of the pledged crypto , and when they notice the value has dropped they will call the borrower to come add collateral,

3. Vast lending options:  some lending options provide interesting rates, good durations, loan to value ratios, ensuring the security of a borrower's collateral.
 After putting all this into consideration I will recommend Youhodler as one of the best crypto loan app,
And also my favourite.

[electronicash]

Cryptos are not really loan friendly, DeFi hype is over a long time then NFT and now Memecoins is the trend. If it's possible for a platform to provide loan without collateral then it would end up being trend again but who is going to take such risk?

not really, they come back like cycles. as of now, there are still lots of users investing in DEFI platform, most probably the ones they know not a scam. one platform that i know was the SOV which investors are flocking and kept sending messages to users whether they wanna sell because investors are wanting to buy higher than the market price.  

memecoins are also cycling, they've already been making hypes since Shib and they are back once again. i once thought they were just created to test the network's capability but they are making millionaires. but loaning is not quite what users wanted to do on Defi.

[Belarge]

Personally am not the biggest fan of loans
but maybe it is rooted from the very ruined
system of banks and their loans. I am hoping
that new loaning projects from crypto will change
my mind and a lot of people’s lives for the better.

People who have no knowledge of the space will always come out making irrelevant decisions that will liquidate their main account. Do what makes you comfortable and always live up to achieve goals already mapped out. The market will always go against our plans. I'm not acquainted with this particular sector of the market because there's vast sector that has to do with bulky information. Loan? I don't subject to such idea because it's never going to be prosperous and the risks involved are high.

[fullhdpixel]

If you are willing to get a loan keeping your assets as collateral than defi would be a better choice. Centralized platform for borrowing has mostly ended badly, in a scam or liquidation. DEFI at the moment, provides a great options if you are trying to get loan or trying to get good interest on your stablecoins.
If you are trying to take a loan for trading, you can just use loan platform inbuilt in popular and trusted exchange like Binance. You can just leverage if you want to actively trade a coin. With so many good options available, I'd not give a riskier centralized platform my money.

I think this is their main purpose and this is why they have a name like that (defi) which is short for decentralized finance. When we hear the word finance, we can automatically think of lend, loan or borrow money. Their only difference from the traditional financing service in the real world is they are decentralized because this is what is crypto all about or supposed to be. It skips the hassle of KYC and stuffs but this can also be risky as criminal minds will have more confidence on doing their thing because of that fact. So, do not say that it was their centralized counterpart is the one that is bad. After all, it is still better if we are free from debts.