Bitcoin.com has made it easier for its users to earn interest on their crypto funds right from the platform’s wallet app. This new feature comes courtesy a partnership with Cred, a licensed cryptocurrency lending service.
The collaboration between both firms is yet another development in the expanding cryptocurrency money market. The rise of decentralized finance (DeFi) is leading to the emergence of numerous lending protocols that allow users to earn high yields from their virtual currency holdings.
Earning Interest on Cryptocurrencies
According to a press release issued last week, both Bitcoin.com and Cred have partnered to enable users of the former’s crypto wallet to pledge their holdings in return for significant interest percentages. As part of the collaboration, Bitcoin.com customers will be able to interface directly with the CredEarn marketplace right from their wallet apps.
To ensure a seamless experience, the new feature will be available on both mobile and desktop devices. Users who pledge their crypto funds will stand the chance to earn daily compound interests, as well as, interest payouts in crypto.
Customers can also take advantage of the customizable nature of the new service to stake one crypto and receive interest payment in another cryptocurrency as a way of diversifying their holdings. The lending feature supports numerous crypto tokens and even stablecoins.
Commenting on the partnership, Bitcoin.com’s head of product, Corbin Fraser, remarked:
Cred continues to be a frontrunner amongst lending and borrowing platforms. Their dedication to solving financial problems is why we are proud to strengthen our partnership. At Bitcoin.com, we strive to offer our customers with the top-tier blockchain services. Through Cred, our customers will continue benefiting from earning interest on their crypto via a secure and licensed financial services platform.
For Cred CEO Dan Schatt, the partnership with Bitcoin.com offers an opportunity to extend the…