The development of DeFi and the development of cryptocurrencies are intimately linked. Indeed, the more cryptos users there are, the more DeFi applications will find takers. Conversely, the more Fintech’s business ecosystem develops, the more opportunities cryptocurrencies find.
Recently, the start-up Nebeus announced a brand new crypto service: the rental of cryptocurrencies between users. Who is Nebeus? How does this service work?
Nebeus is an Anglo-Spanish Fintech start-up. This company was created in 2017 and is specialized in the provision of cryptos services such as: crypto bank card/fiat currency, Bitcoin P2P loan, exchange crypto, etc.
In 2018, the firm had launched an appeal for funds of about 1.1 million pounds sterling. Very quickly, its sales and results in 2018 grew significantly. In the third quarter of 2018, Nebeus had announced that it had completed 34 million euros in financial transactions and facilitated P2P Bitcoin loans for 1.9 million pounds sterling.
On Monday, December 14, 2020, Nebeus announced the creation of its new service called “Crypto Renting”. Its principle is inspired by that of real estate rental. Concretely, users of cryptocurrencies will be able to rent their money. In return, they will receive income. This service therefore makes it possible to generate passive income thanks to a crypto wallet. Depending on the conditions, the owner of the cryptocurrencies will receive daily or monthly interests.
“Crypto Renting represents a new step in our goal to create links between crypto and conventional money. We are launching this product to give cryptocurrency users the opportunity to enjoy their assets in a different way. (…) Crypto Renting will allow users to receive a constant passive income from their crypto assets. » said Sergey Romonovskiy, CEO of Nebeus.
The service essentially offers two formulas. The Juniper program pays 6.45 percent interest per year for a “lease” of at least 0.0006 BTC for more than three months. The Sequoia program pays 8.25% interest per annum for a minimum of 0.35 BTC for more than six months.
So far, cryptocurrencies are best known for their volatility. In other words, investing in cryptocurrencies is considered a way to make nice capital gains during bull-runs.
However, cryptocurrencies also have the potential to generate passive income, which is so dear to investors. Mining is the key activity to generate passive income. However, mining is not accessible to everyone. Following the example of the Crypto Renting service, DeFi now provides easy access to many services that generate passive revenues. The multiplication of the offer in terms of passive cryptos revenues will eventually attract even more people to cryptos.