Whether you are new to the crypto space or an experienced hodler, it is no news that the crypto industry is known for its volatility. While Bitcoin and Ethereum witnessed their all-time highs this year, the prices still keep fluctuating. With such an extreme market, it becomes imperative to look for ways to earn a greater yield on your coins despite the market being bullish or bearish.
This is where the crypto lending platforms step in to bring some stability in the otherwise volatile market. Simply put, crypto interest-earning platforms allow you to earn interest on your crypto assets as you lend these assets on the platform. This way, you don’t need to actively do anything, and you can earn a passive income consistently.
If you live in Hong Kong and are keen on earning passively with a crypto lending platform, then look no further. We have put together the top 5 crypto lending platforms in Hong Kong to watch out for in 2022.
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1st Best Crypto Lending Platforms in Hong Kong: Hodlnaut
Hodlnaut is a Singapore-based startup available globally and for hodlers in Hong Kong. It offers one of the highest interest rates of up to 12.73% APY on six supported assets, namely BTC, ETH, USDC, USDT, DAI, and WBTC. Moreover, users can also earn interest with their popular Preferred Interest Payout feature. With this feature in place, if a user deposits BTC, he can choose to earn in other currencies such as ETH and USDC from the six supported asset types. Hodlnaut also has a token swap functionality with which users can swap tokens seamlessly within the platform.
With a Trustpilot rating of 4.8/5, Hodlnaut has a proven record of exceptional customer service. Hodlnaut currently has over 10000 users with USD 500 million assets under management. The best part about Hodlnaut is its security-first approach. The platform has partnered with Fireblocks to provide robust security for its digital assets, and it also offers an optional Nexus Mutual Custody Cover to provide an additional safeguard. So if you are looking for a way to earn passively with a crypto lending platform in Hong Kong, then Hodlnaut is an excellent choice.
Read our Hodlnaut review to know more.
Also, read Crypto Lending vs Crypto Staking
2nd Best Crypto Lending Platforms in Hong Kong: Ledn
Ledn is a Canada-based robust and secure platform that helps you maximize your Bitcoin holdings and secure a loan against your BTC. If you are looking for a Bitcoin-specific loan or savings account, then Ledn is a good option. The platform mainly offers three products. First is the Bitcoin-backed loans for those who want to take a loan while leveraging their bitcoin holdings. Another product is their bitcoin and USDC savings account which offers up to 6.10% APY on Bitcoin and 9.5% APY in USDC.
Lastly, we have the B2X product, which is a quick way to double your Bitcoin balance with a bitcoin purchase and Bitcoin-backed loan. B2X allows users to increase their bitcoin holdings with a bitcoin-backed loan. With this service, users can hold twice as much bitcoin with a B2X loan for the amount of dollar used to purchase the BTC. As for the savings account, you can withdraw the funds at any time. However, you will have to bear a $10 fee for each USDC withdrawal.
3rd Best Crypto Lending Platforms in Hong Kong: BlockFi
BlockFi is a US-based crypto lending platform well renowned in the crypto market. The company was established in 2018 and has got good traction since then. BlockFi is one of the pioneers to raise institutional funding for their startup based on crypto-backed loans. BlockFi also allows users to earn up to 9.5% interest on cryptocurrencies. So if you have any cryptocurrencies, you can lend them on BlockFi and earn interest on them.
With BlockFi you can also borrow against your coins. Instead of selling the coins when you need funds, you can take out a loan on them. Earn monthly interest on your cryptocurrencies instead of letting them sit idle in your wallet. The platform also allows you to trade cryptocurrencies such as BTC, LTC, USDC, ETH, and GUSD.
BlockFi has launched a Bitcoin Rewards Visa Credit Card which allows hodlers to earn rewards in Bitcoin. The card helps you earn a 1.5% rewards rate in Bitcoin on all card purchases without any annual fee. Moreover, you earn 3.5% back in Bitcoin within your first three months with the card.
Read our BlockFi review to know more.
4th Best Crypto Lending Platforms in Hong Kong: Nexo
Nexo is based in London and offers a multitude of products. It has interest accounts with which users can earn lucrative interest rates on their crypto or fiat assets. Nexo also has a Nexo card, and crypto loan, and a debit card that grants access to the crypto credit line using which users can spend without selling their crypto.
Nexo aims to replace the traditional banking system and offer tax-efficient and high-yield products to maximize the value of digital assets. The platform supports various crypto assets, including Bitcoin and Ethereum, and fiat currencies like the Pound Sterling. It offers up to 12% APY for users who choose to earn Nexo tokens.
Read our Nexo review to know more.
5th Best Crypto Lending Platforms in Hong Kong: CoinLoan
Based in Estonia, CoinLoan is a popular crypto interest-earning platform that also offers services in Hong Kong. The company aims to provide a simple and easy-to-use platform for each crypto user to make the most of their digital assets.
The platform also offers a fiat-on-ramp service to easily transfer their crypto holdings from an exchange to the lending service under the same platform. Users can earn up to 12.3% interest on their cryptocurrencies, and the asset type includes BTC, ETH, and USDC.
Read our CoinLoan Review to know more.
If you are a crypto hodler in Hong Kong who would like to leverage lending platforms, then the platforms mentioned above are worth trying. You can earn passive income in one of the easiest ways by simply holding your coins with these platforms. Having said that, you should do your due research and choose the right platform for yourself.