It’s still better than your bank account, but CeFi rates are grinding down. Here’s why.
“Ultimately, compressed rates and volatility are a sign of the asset class’s maturation. Where yield was once rampant and liquidity once sparse, there are more players in the crypto game feeding its competitive financing and widespread access.”Zac Prince, CEO of BlockFi, told Cointelegraph that he’s still “bulllish on [...] clients’ desire to earn crypto interest back for the long term.”
Ultimately, and in agreement with Di Bartolomeo, “regardless of how historically volatile crypto has been, the opportunity is always there.” CeFi providers will continue to offer more attractive interest rates than legacy financial institutions. “Rates are not dropping. It’s more that yields on older cryptos on Nexo are ensured to be sustainable in the long run, but the eyebrow-raising rates are often available either with Nexo Tokens through our loyalty program or for some of the newer coins for which we can generate such impressive yield.
“While credit checks and a lack of financial history harm individuals seeking access to capital on a global scale, CeFi lending offers a solution. By utilizing crypto assets confirmed on a transparent and immutable ledger, CeFi protocols are able to quickly verify their possession.”
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