New Crypto.Com Services ‘Crypto Earn’ And ‘Crypto Credit’ To Start Giving Interest-Generating Loans
Crypto.Com To Start Giving Loans To Its Users
In a recent announcement by Crypto.com, a leading investment firm, its users are set to start enjoying some new features. Clients of the site will now be able to apply for loans or deposit their crypto assets into a fixed account and earn interest on the same.
The interest earning solution, which the firm has dubbed Crypto Earn, lets users earn up to 8% interest p.a.
For customers to enjoy the service, they will need to deposit their cash for a given period of time(2-3months). In the future, Crypto.com plans to provide better terms in regards to their fixed deposit holdings.
The company also has another new service known as Crypto Credit. This service lets users access cash loans by using bitcoin as their collateral. Once one is given a loan, they must pay back the entire loan within a year. However, unlike banks, there is no fixed number of scheduled payments. Furthermore, crypto.com said that they will not be imposing any interests on late payments, monthly fees or any other deadline payments banks charge.
Furthermore, users will not be forced to take credit checks. Once one is granted the loan, they can withdraw the funds using a Crypto.com Visa Card. With Crypto Earn, one enjoys some of the best interest rates there is in the market. All these products combined, they make excellent products that no other person in this field is offering according to said Kris Marszalek, Crypto.com’s co-founder and chief executive officer.