Can I get a loan for a price of a coffee cup? Yup!

Covid 19 is finally easing its grip on the financial world but still there are a lot of people left stranded before they can finally go back to a “new normal”. Whether temporarily out of work, or faced with the much slower than usual business, individuals find themselves in need of quick cash until they can return to making more regular income. Many turn to so called “short term loans” that charge exorbitant interest rates (up to 400% APR).

Crypto backed lending platforms offer a refreshing alternative so if you have any increments of cryptocurrency and need cash, you are in much more advantageous position without maybe even realizing it. A lot of crypto lending platforms’ loan terms start at 1 month and go up to 24 months with a much lower interest rate (around 12-14% APR). That means that if you have any crypto in your wallet – you can get a loan for virtually a price of a cup of coffee because you can set your own terms when applying. For example, a €500 loan would cost you only €5.3 if you decide to pay it off after the initial first month. Compare it with a hefty price tag of €150 for the same amount and the same time frame from a conventional lender and it becomes a no brainer.

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