The Bitcoin.com wallet is joining hands with a lending platform known as Cred. Now, holders of both bitcoin and bitcoin cash can lend out their stashes and gain interest, some of which can be garnered through a wide variety of cryptocurrencies including stable coins.Bitcoin.com Is a Powerful Friend of CredThe crypto space is seeing a wide variety of new lending programs that allow people to lend out what they own to other individuals. From there, they can gain interest on the money granted the funds are not paid back right away. It’s a quick and easy way to make some digital cash; lend out the goods, see the stash grow over time.A spokesperson from Cred explained in an interview:Cred’s partnership with Bitcoin.com proves that bitcoin innovation doesn’t have to occur at the protocol level.
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The Bitcoin.com wallet is joining hands with a lending platform known as Cred. Now, holders of both bitcoin and bitcoin cash can lend out their stashes and gain interest, some of which can be garnered through a wide variety of cryptocurrencies including stable coins.
Bitcoin.com Is a Powerful Friend of Cred
The crypto space is seeing a wide variety of new lending programs that allow people to lend out what they own to other individuals. From there, they can gain interest on the money granted the funds are not paid back right away. It’s a quick and easy way to make some digital cash; lend out the goods, see the stash grow over time.
A spokesperson from Cred explained in an interview:
Cred’s partnership with Bitcoin.com proves that bitcoin innovation doesn’t have to occur at the protocol level. By building lending capabilities directly into the Bitcoin.com wallet, we’ve provided a way for BTC and BCH holders to earn an attractive ROI (return on investment), while operating within a familiar and secure environment.
Bitcoin.com has become a relatively controversial platform over the years given the change in the stance of its founder and chief executive Roger Ver. Ver, often referred to as the “Bitcoin Jesus,” was one of the first investors of bitcoin, and has worked hard to spread the ideas of BTC and blockchain throughout the space to make them more mainstream.
However, over the years, Ver has changed from being a bitcoin connoisseur to a big fan of bitcoin cash, which he has often claimed is closer to the vision that Satoshi Nakamoto – the alleged creator of bitcoin – had when he first brought cryptocurrency to the table. He has often clashed with Craig Wright as a result, who claims that the closest thing to Nakamoto’s vision is his own coin bitcoin SV (BSV), which emerged in late 2018 through a hard fork of bitcoin cash.
BSV is also widely blamed for the heavy bitcoin crash that occurred during Thanksgiving of that year. Bitcoin had spent much of the summer trading in the mid-$6,000 range, but after a temporary drop to $5,000, the asset completely fell to roughly $3,500, thereby losing nearly 70 percent of its value since the beginning of the year.
All in the Name of Lending
Individuals who utilize the Bitcoin.com wallet and Cred to lend out their crypto may do so with an Android or iOS app. Bitcoin.com head of product Corbin Fraser explained in a statement:
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 through a secure and licensed financial services platform.
Cred has presently integrated itself into several blockchain and crypto platforms including Edge and Huobi wallet.