Crypto lending is one of the investment strategies that is rapidly growing in the crypto industry today. It is one of the ways of making a profit via cryptocurrency.

As it is important to make research on crypto and the platform to use for buying/holding crypto, and so it is for its lending platforms.

In this post, we’ll look at the top crypto lending sites today. Before then, let’s learn more about crypto lending.

What is Crypto Lending?

Crypto lending is the financial term used in the crypto world when an investor agrees to lend the crypto invested to a certain network. In so doing, the investor earns more crypto tokens which help to facilitate trading.

When you lend crypto, you let the blockchain lease it out to crypto borrowers. The network charges those borrowers interest and splits the earnings with the investor. Crypto loans are also secured using the borrowers’ loan crypto as collateral.

Several decentralized finance companies offer the ability to lend your cryptos to other traders and earn interest as a result.  These companies create an interest value that vary depending on the crypto asset you’re lending and the rate set by the company itself. You begin earning interest almost immediately.

What is a Crypto Lending Platform?

A crypto lending platform is an online platform that allows investors to lend cryptocurrency in exchange of interests.

These platforms are used by borrowers need fiat currencies that will take a loan via these platforms in exchange of interests. They are also used by lenders/investors that have some crypto laying around and would like to generate passive income from it.

How Does Crypto Lending Sites Work?

Listed below are the key steps of the processes to take when investing via a crypto lending site.

1. A borrower requests a loan to the platform which include the specific duration and amount.

2. The lending platform evaluates the loan in term of security.

3. Once approved, the borrower stakes a certain amount of his crypto as collateral for the loan.

4. The assets of lenders deposited on the wallets of these lending platforms are used to fulfil the loan.

5. Lenders/investors receive interest usually weekly or monthly based on their amount of assets.

6.  Once the borrower pays back his loan, he can unblock his crypto collateral.

Factors to Consider When Choosing the Best Sites for Crypto Lending

1. Interest rate– This depend on the coin/token you want to lend.

2. Lending duration- When choosing a platform to lend crypto, you need to check if the duration is fixed or not.

3. Deposit limit- You have to check if there is a minimum to be deposited on the platform.

4. Collateral- You need to know how much crypto collateral borrowers need to have compared to the amount of money they are borrowing.

5. Fees– This is also important in choosing your platform for your crypto lending.

6. Platform risks and track record- You need to keep track on the record set by the platform. Also check if its security is guaranteed.

It is also important to note that every crypto lending platform has its area of specialization when it comes to the factors stated above.

Best Crypto Lending Sites in 2022

Here are 4 of the best crypto lending sites today (2022). They are listed based on the factors given above.

1. BlockFi

BlockFi is a centralized crypto lending platform based in the USA. BlockFi was founded in 2017. The company provides a interest account called BlockFi Interest Account where you can store your crypto and earn interest in exchange. The platform offers interests in 10 cryptos among which is BTC, LINK, ETH, LTC, USDC, USDT, BUSD, and so on. It is regarded as one of the best crypto lending sites due to security and track record. BlockFi can provide a ”sense of accrued safety and stability” when compared with its competitors. As of 2021, BlockFi has secured a total of over $500 million financing in Venture Capital Funds according to Crunchbase. The company is the largest-money backed crypto lending site with a valuation of over $3 billion. BlockFi is available in most countries of the world.

2. Celsius Network

Celsius Network is a crypto lending platform based in the United Kingdom. The country allows investors to lending return for interest rates on their crypto. The platform offers interest on a total of 41 lendable coins. This include BTC, USDT, ETH and so on. Celsius is available in most countries around the globe.


This is a crypto lending platform which has the largest choices of coins. The company is based in Hong Kong. The platform offers interest on a total of 35 cryptos which include BTC, ETH, USDT, ADA, LTC, EOS, Stellar, etc. The investment period on the platform is up to 3 months, and a flexible non-binding period. The interest rate is up to 8.5% yearly return of investment on cryptos and 12% on stablecoins.

4. YouHolder

YouHolder is a crypto lending site based in Switzerland. The platform offers users loan with minimal interests and the option of some funds to accrue great returns. YouHolder offers interest on a total of 22 cryptos which include BTC, ETH, USDT, BNB, UNI, DAI, PAX, HUSD, and so on. All investment options are available to users worldwide except the USA, China, Iraq, Bangladesh, and North Korea.

How to Lend Crypto

It is important to know that many crypto assets are lendable. It is very easy to lend crypto coins or stablecoins on the platforms listed above.

When lending on platforms such as BlockFi, simply follow the steps to opening an account. The CeFi platform will find borrowers for you.

You can also download the app of some of the leading crypto lending platforms on Google Playstore or IOS. All you need to follow the basic steps listed on these platforms to lend crypto.


Lending is riskier than staking which has its only risk as illiquidity (if the price starts to tank or you need to cash out incase of an emergency, you will not able to do so). Lending has more risks attached to it as it is said to be highly opaque and volatile.

However, just like buying/holding crypto assets, crypto lending can be very profitable. It is a means of earning interest via investment in cryptocurrency.

Also Read- What is the Difference Between Crypto Staking & Crypto Lending?

If you’ll need to buy crypto asset such as Bitcoin, Litecoin, USDT, and Dogecoin for lending, Prestmit is the best place for you.

If you ever find yourself in a position to buy or sell crypto coins in Nigeria or Ghana, Visit Prestmit, it’s the best platform for you.