There is also a lot of movement in the crypto-lending market this year. While no notable new crypto-lending providers have emerged, existing platforms have continued to expand their offerings, add features, acquire licenses, and engage in marketing. Now you can find out which providers I particularly like this year:
Coinloan* is the hidden champion of 2022 for me. The range of cryptocurrencies has been steadily expanded, a dedicated credit card has been launched and many small detail improvements have been made. The interest rate was reduced minimally in the course of last year, but overall it is still at a good level. In return, the company’s own CLT token increased massively in value and is now at a good $15. Communication via the blog has been excellent and some key figures have also emerged. Customer growth thus remains at a very good level. For these reasons, I have been constantly increasing my position on Coinloan and plan to continue investing on the platform this year. If you want to learn more about CoinLoan, you can find my review of CoinLoan here.
After a difficult year in 2020, Crypto.com* managed to reach calm waters again in 2021. The scam allegations that arose at times have not been confirmed and Crypto.com has been able to regain a lot of trust over the past year. The good performance of the in-house token CRO also contributed to positive results for 2021. In addition, the NFT trend was quickly recognized and suitable products were developed. This year, I find the development around the in-house blockchain Cronos particularly exciting and will present it again in detail.
Therefore, everything speaks for the fact that Crypto.com will continue to play a major role in my portfolio this year.
Cake Defi* also performed well in 2021 and 2022 and is now an integral part of my portfolio. Their own app was launched last year and they also cut interest rates less than I expected. The in-house token DFI ran relatively stable and without major fluctuations which makes up for the missed bull run in 2020. Particularly exciting are the new Decentralized Assets that allow investing in tokens that replicate a stock price.
With the new product offering, Cake Defi is on a very good path to continue to play an important role in my portfolio in 2022. For those who want to know about my Cake Defi experience so far, I recommend my experience report after more than 12 months on the platform.
For a long time I didn’t really know where I stood with Nexo.io. Problems with transaction delivery had increased my distrust at the beginning of last year and I took a six-month break. Since then, I’ve been more active on the platform again and haven’t had any problems so far.
Nexo.io* has expanded its product offering and now also offers fixing of the balance for higher interest rates. This way, you can get a few more percentages of return and Nexo offers the highest interest rates for many coins, if you take advantage of the extra 2% that is offered for a payout in NEXO.
Nexo.io offers the highest interest rates on many coins with its static terms and payout in Nexo. Therefore, I will continue to increase my investment and am curious what the crypto-lending provider has in store for us this year.
In 2021, BlockFi* is mainly remembered for its dispute with the SEC ( U.S. Securities and Exchange Commission ). Since then, the platform has had to offer a restricted product range or carry warnings in 5 U.S. states. Recently, however, the agreement with the SEC has been reached and BlockFi can once again offer its full range of services in America. For European investors, however, little had changed and BlockFi continues to deliver good results in terms of returns and stability. Unfortunately, little has happened on the product side in the last year and for this year I would like to see a little more drive and exciting innovations.
BlockFi remains a heavyweight in the U.S. despite all the legal wrangling, and is doing an excellent job as a crypto-lending provider. Stability and reliability are at a high level, but the interest rates could be a bit higher. Therefore, I will wait for the time being and increase only slightly.
Swiss provider YouHodler has released a few new products lately. Unfortunately, Multi-Hodl and TurboCharge don’t interest me so far, as I lend my crypto and don’t want to borrow. Therefore, for me personally, the product mix at YouHodler does not quite fit at the moment, which is a pity, because the provider otherwise does a good job and the product works reliably and the interest rates are in the middle range.
I will possibly increase my small investment in YouHodler slightly, otherwise I will look at the mentioned products again at times and then re-evaluate whether I increase or continue to wait.
I did not addSwissBorg* to my portfolio until 2021. Especially the relative high APY on BNB Coins made me take this step, unfortunately it was lowered again to about 2%. I will also introduce the platform in more detail but so far everything is working as it should. I could not see any major changes on the platform in 2021 and 2022, but the cryptocurrency offer was expanded in a rudimentary way. Unfortunately, interest rates are still in the basement and so I will wait and see how the platform and returns develop.
Conclusion – Many possibilities for Crypto Hodler
Even in 2022, there are enough opportunities to park one’s cryptos profitably with various providers. Which crypto lending provider you prefer depends on your own wishes and requirements, e.g. whether you prefer a European or American platform. In general, however, the market is well saturated and for most of us there should be a suitable crypto-lending provider to find. Also check the Crypto Interest Comparison to see which provider offers the highest interest rates for you and your coins, this can serve as a first orientation.
Note: No investment advice. The content on Cake Defi is not intended for the German audience, but for other German-speaking countries such as Austria, Switzerland, etc.