Pros & Cons: My Experience with BlockFi, Celsius, Crypto.com, Nexo, Bitrue, & Cred

*UPDATED August 27th, 2020

As the crypto landscape continues to mature, many new lending platforms have opened their doors to new users — providing a whole new way for crypto enthusiasts to earn passive income in the form of their favorite assets. It finally seems like many of us are warming up to the idea of lending out their valued funds for a little extra profit.

But with the onslaught of new services that all provide similar interest rates, terms and fees — it can feel like an insurmountable task sifting through all the details to pick the best option.

So I’ve taken it upon myself to put together what I feel are the relevant details of each platform in one place in more or less a comprehensive guide to crypto lending.

Some services I’ve talked about extensively in the past — Celsius (Pros and Cons: My Experience with Celsius Network), BlockFi (Pros and Cons: My Experience with Blockfi) and Crypto.com (Pros and Cons: My Experience with Crypto.com) — all solid platforms that I highly recommend. I wanted to add several platforms to the mix. Specifically — Nexo, Bitrue and Cred — and compare them against each other.

At the core of these lending platforms is a business model that sees the lending and…