Ledn Interest Rates 2021
Background on Ledn
The company has had five funding rounds to date, the most notable of which was a $30 million Series A raise in May 2021, led by London-based Kingsway Capital.
Ledn provides yet another alternative to decentralized lending platforms for earning a return on major cryptocurrencies. Like its close competitors, Lend removes the issue of smart contract risk, while also benefitting from the ability to provide fiat currency loans collateralized with crypto.
The Ledn platform is available via internet browser on desktop and mobile, as well as a native app on iOS and Android.
Crypto deposits on Lend earn a return from being lent to Genesis Capital, a very well-established digital asset lending company. This means that Ledn users know exactly where their funds are going and that they are in reliable hands. Any user funds that aren’t rehypothecated to Genesis are custodied by BitGo, an insured institutional crypto custodian.
Online reviews on the Ledn platform and customer service are resoundingly positive, which is a great sign.
How Does Lending on Ledn Work?
To start lending with Ledn.io, visit https://platform.ledn.io/signup and fill in the form with your personal details.
Log in, then confirm your email address and mobile number.
Commence and complete the know-your-customer (KYC) process.
On the dashboard, click the asset that you wish to deposit. Click “deposit” and follow the instructions to deposit your BTC or USDC.
Your deposit will immediately start earning interest once it appears in your Ledn savings account.
How are crytocurrency interest payments made?
Interest is generated as soon as a user deposits any amount of BTC or USDC in the appropriate Ledn savings account. There is no minimum requirement to get started and no minimum lock-up term. Users may withdraw their funds at any time they wish.
Interest is accrued daily, but paid out on a monthly basis. These interest payments are made in the same asset that the user has deposited. As mentioned above, Ledn generates interest by lending user deposits to Genesis Capital – a reputable leader in the digital asset lending space.
Which assets are supported?
How to get involved?
For more in-depth information about the platform, check out the official Ledn blog.