The advent of peer-to-peer lending has given consumers a viable alternative to traditional bank loans and created a new, profitable investment avenue for savvy investors.
While the first group enjoys a better loan approval rate, less bureaucracy and lower interest rates, the latter benefits from significantly higher returns compared to other investment products and lower market volatility.
It seems like a bulletproof solution for everyone. Now, that the crypto space is booming and the fintech world is on the brink of another revolution, lending is close to getting an upgrade. infrastructure that will allow us to kickstart an array of new crypto services and products. Even the Wall Street oracles agree that the potential of the blockchain technology to transform the fintech world is enormous.
Peer-to-peer lending marketplaces are online platforms that connect borrowers, both individuals and organisations, with investors (or simply — lenders). Unlike banks, these platforms don’t hold or loan funds, they simply mediate between borrowers and lenders and facilitate the process. providers generate their revenue from fees and commissions paid by all the parties involved in the lending/borrowing process. Reduced bureaucracy, almost no overhead costs and shorter decision cycles mean that loans can be approved and issued much faster and repayment interest rates are typically significantly lower than what banks are able to offer. Each provider offers different returns for lenders based on the type of loan and borrower profile; Fast Invest lenders repeatedly earn between 8% to 13% returns.
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