A peer-to-peer lending platform is abbreviated as P2P lending, it's a fully decentralized technique. This platform eliminates the third parties who involve & managing the product. Here its a risk-free, time-saving & it allows customers to exchange the products directly, peer-to-peer between themselves, and manage their funds.
Peer-to-peer (P2P) is a cryptocurrency that works in the blockchain is used to transfer the fund without a third party, here your fund is maintained very securely by using private keys. Users can exchange their cryptocurrencies, at a valuable price.
Peer-to-Peer is an online platform for alternate financing across the globe.
Lending is a form of crowdfunding. This is the method to raise funds for the people who want to borrow from the people and to invest.
1.This peer-to-peer lending is a platform for using the blockchain and smart contract.
2.Crypto lending platform connects borrowers and lenders all over the world this becomes seamless and trustworthy.
3.The cryptocurrency borrowers and user lenders can borrow their cryptocurrency by using the complete method of decentralization and in a private manner.
4.The cryptocurrency users can lend their fund for two main purposes such as
personal use
Margin lending
5.This is the boost of Defi, Where the crypto lending platform attracts more and more.
6.By using this method there are a lot of benefits such as cost reduction, time, and different rates of interest.
7.In these Peer-to-Peer platforms, borrowers are easily connected with the lenders directly.
8.Here the entire process is quickly added by using the smart contract.
9.The fixed rate of interest-based on the performance of the profile of borrowers.
1.Peer-to-Peer fiat lending has the values because the government maintains it.
2.Fiat lending is the method it becomes hassle-free and the transaction between the people is very easy because exchanging fiat currencies living anywhere in the world.
3.There is no intrinsic value and use of value, it was introduced as a commodity value and representative value.
