5 Best Centralized Crypto Lending Platforms in 2021

As global saving interest rates reach zero (and in certain countries in negative), increasingly people have switched to the cryptocurrency market to earn interest on their assets using crypto lending platforms.

Crypto lending platforms have now become a prominent way to earn passive income from cryptocurrencies which are lying dormant in personal wallets.

Crypto lending platforms can be differentiated into two types, centralized and decentralized. In this article, we will be discussing the top and the best-centralized crypto lending platform but before that

let’s understand.

What is centralized crypto lending platforms?

Centralized lending platforms are like traditional financial institutions and in this case, they work with cryptocurrency and not fiat. They are custodial and will want you to go through KYC to earn interest on your crypto investments.

Now let’s check our list

Top 5 Crypto lending platforms

1. BlockFi

BlockFi is a crypto lending platform that has been offering exceptional services to its users and major corporates. It offers lending services and investment opportunities on Bitcoin and Ethereum.

Users are paid for the contribution of their investment with an interest of up to 8.6 percent. Interests are paid every month and at the beginning of the month. Any extra deposit in that month is entitled to earn interest the next month.

No minimum or maximum deposit sum is also available so newbies can start using BlockFi right away. 


  • Competitive rates of interest.
  • The collateral that is displayed on your BlockFi website, BlockFi keeps your investments secure.
  • Adds liquidity to smooth execution of exchange and rates.
  • Boost long-term account holders’ future earnings.


  • Don’t offer financial or Taxation advice.
  • Withdrawal costs are a little high.

Visit BlockFi

2. Nexo

Nexo is an online crypto lending service, providing financial assistance for storing crypto assets such as Bitcoin and Ethereum on its platform.

In return, Nexo provides users with high-interest on their accounts that can earn up to 10% p.a. The interest is paid in the form of crypto, Stablecoins, and fiat money.

The crypto lending service has a BitGo license, a regulatory and insurance value of up to $ 100 million is available in over forty fiat currencies and over 200 jurisdictions worldwide.

Nexo has handled more than $1.5 trillion from over 800,000 customers in over 200 countries worldwide and embraces more than 40 fiat currencies since it was released in 2017.

It has achieved mainstream attention for individuals and businesses as an alternate form of financing and storage to take advantage of potential financial incentives for investors and lenders.

Crypto investment services like Nexo are valuable to users because the interest earned beats the premiums charged by traditional financial firms such as banks.

Furthermore, the interest in a Nexo savings account is earned every day, which permits the initial investment to expand and compound rapidly.


  • Instant mandatory and assured approval without credit checks.
  • No minimum credit refund.
  • The best annual interest rates are just 5.9% and just what you would need.
  • Local bank withdrawals are free of charge on the same day.
  • Present in more than 200 jurisdictions worldwide.
  • ZeroFees – no root and no winding up costs, no penalties FX.


  • A centralized lending channel, at any point, be subject to public rules and business practices.

Visit Nexo

3. Binance

Binance is just one of the world’s best crypto-Trading exchanges selling everything to crypto-investors, HODLers, and traders.

The Platform’s presence online offers a connection between conventional fiat money and crypto through a revolutionary feature-rich service and is also considered the world’s leading exchange. 

The platform is famous for its creative trading items and new functions, but with the advent of ‘Binance Savings,’ the team has recently unveiled a means of gaining more confidence in the Binance brand.

You will build your own wealth by investing and earning interest in your funds on the platform via the Binance sparing account. In essence, you lend your money to merchants who invest your funds and they pay interest in return.


  • Safe & protected Trading.
  • More than 500 tradable pairs of crypto properties.
  • Outstanding reputation.
  • Many excellent interfaces.
  • Many choices are available for payment.
  • Online channels involved.
  • Good service for customers.


  • Not always suitable for beginners.
  • Instant customer service is not available.

Visit  Binance

4. Celsius Network

Founded by by VoIP (Voice over IP) inventor Alex Mashinsky in 2018.  The Bitcoin loan program by Celsius Network  provides curated services that have been abandoned by traditional financial services like banks.

The network has more than 50,000 users and counting since its launch. They are known for providing fair interest, zero fees and quick transactions.

It has also been named as the one company that will disrupt traditional banking, in 2018, in Forbes listed it as Top 10 companies to watch out.


  • No min deposits or some form of fee.
  • Elect to obtain an interest in your deposited local currency or CEL tokens.
  • Up to $ 100 million in BitGo insured wallets.
  • CEL token pay option allows you to pass coins without extra costs to another person.


  • No available on desktop devices.
  • Must be paid to increase interest rates in the native currency.
  • Custodial wallet.

Visit Celcius


SALT lending was founded in 2016 by Shaw Owen in Denver, Colorado. SALT is the abbreviation of “Secured Automated Lending Technology”.

You may also identify SALT based on its slogan: “Keep your assets, invest your funds”. The platform has so far provided crypto loans worth more than $50 million, and facilities in 30 jurisdictions are fully available.

SALT was among the first lending sites and is, without a doubt, one of the most successful.


  • No USD conversion essential for the service to use.
  • A collective of multiple cryptocurrencies may be used for loan collateral.
  • Cyber liability, including crime insurance and consumer funds insurance.
  • Quite simple to use and comprehensive platform and attentive support service.


  • Some loans may incur higher rates of repayment than banks.
  • Limited openings for repayment.

Visit Salt

In the End

You may use your investment as security to obtain credit on a crypto lending platform. This article only gives you an idea of the above platforms and It depends completely on you to choose any platform.

As a lender, you want your investments to gain worth over time so invest for a long-term goal and choose the right platform based on your requirements at the end of the day.

The standard cryptocurrency interest rates are less on these platforms. You will always earn a high-interest rate if you generally invest in native tokens of these platforms.

I hope you liked the article and if you have any doubts regarding this article or if you want to add another platform to this list then do leave your valuable comments below.

Thanks for reading.

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About The Author: Shounak

I have been a crypto enthusiast from 2015 to date. I have written all articles published on this website. I hope you guys enjoy reading them.