Today, you can rent a home. You can also rent a car. However, it also looks like bitcoin is rentable thanks to a new startup based in London and Barcelona, Spain known as Nebus.Nebus Wants to Borrow Your Crypto for Cash PaymentsTo an extent, the idea of crypto renting is not all that new. There are many cryptocurrency exchanges and trading platforms that allow users to lend their crypto to a pool or stash that is used as collateral for a loan that someone has taken out.These crypto stashes then garner interest granted the original owners do not cash out and the person who took out the loan doesn’t pay back all the money they’ve received within a specific time. Once they start accumulating interest on the loan, the person who lent the crypto out starts to see their stash go up little by
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Today, you can rent a home. You can also rent a car. However, it also looks like bitcoin is rentable thanks to a new startup based in London and Barcelona, Spain known as Nebus.
Nebus Wants to Borrow Your Crypto for Cash Payments
To an extent, the idea of crypto renting is not all that new. There are many cryptocurrency exchanges and trading platforms that allow users to lend their crypto to a pool or stash that is used as collateral for a loan that someone has taken out.
These crypto stashes then garner interest granted the original owners do not cash out and the person who took out the loan doesn’t pay back all the money they’ve received within a specific time. Once they start accumulating interest on the loan, the person who lent the crypto out starts to see their stash go up little by little.
While Nebus offers a similar pathway for its customers, the process is a bit different. This time, customers don’t lend their stashes out to individual customers themselves. Rather, they lend them out to the company which is free to do whatever it pleases with the funds. In return, the company offers a monthly rent payment – like what you’d pay for a storage unit – to the person so they can utilize the funds in question. Thus, users can garner a passive income of sorts on their digital currency.
Right now, Nebus is offering two separate rental programs. The first one is known as Juniper, and it involves customers renting out a minimum of 0.006 BTC, which at the time of writing, is equivalent to roughly 90 euros. They can also rent out the same amount in Ethereum. The rental period must last a minimum of three months and garners users over six percent interest per year.
The second program is referred to as Sequoia. This time, the stakes and figures are a little bigger. Users can rent out as much as 0.35 BTC, which at press time, is equal to about 5,500 euros. They can do the same amount with Ethereum. From there, they can early a little more interest each year, nearing nine percent in total.
One of the big benefits of the program is that customers can withdraw their earnings every 24 hours should they so wish. Thus, they have constant access to their earnings. All payouts are made in euros.
A Whole New Level of Crypto Activity
Sergey Romonovskiy – CEO of the company – explained in a statement:
Crypto renting is yet another step in our mission to bridge crypto and cash. We launched this product to give people who own cryptocurrencies a service that allows them to profit from crypto in a different way. With so many people investing large sums of money into crypto, it makes sense for people to be able to use that investment to gain profit without having to sell their investments.