ETHLend is a cryptocurrency based lending platform. This decentralized lending market allows for peer to peer loans with interest rates as determined by the free market. Borrowers and lenders can connect with each other no matter where they are in the world.
This allows for fair access to collateral based lending regardless of an applicants credit history, and with reduced fees since there is no middleman taking a cut of the profits. Lenders can also enjoy earning a higher than average interest rate for their contributions in a safe manner since even if the borrower does not repay there is an asset held to cover the loan.
It's likely that democratized lending systems such as these will become common place in the future as people look to acquire loans to grow their business, to purchase a home, or for those with capital to create passive income streams.
While there are a few blockchain based competitors in this space, the decentralized nature of this platform and the more affordable business model will likely make it the most attractive to cryptocurrency enthusiasts and free market fans. Your ETHLend investment could pay off handsomely when the cryptocurrency loan sector takes off.How to buy?
Fortunately, it's possible to buy ETHLend on several easy to use and reputable exchanges. Bitcoin is the highest volume trading pair here as per usual, but there is also ample liquidity in the Ethereum pairing if it's your preference to exchange using that currency. There are also some lesser volume options by way of the US Dollar Tether and the Indian Rupee if you would like to utilize a more familiar base currency.
This asset is based on the Ethereum chain, just as its name would suggest. That means that investors will need a reputable ERC20 wallet to safely store their tokens. If you're still looking for such a wallet then you could try My Ether Wallet, Coinomi wallet for mobile phones or a hardware wallet like Ledger or Trezor if you prefer a safer cold storage method. Make sure to always back up your wallet or seed file in a safe place to protect your investment!