It’s increasingly hard to make money as a cryptocurrency miner. With energy costs on the rise and coin prices remaining stagnant, some miners are forced to give it up altogether. That ones that stick with it find themselves in a vicious cycle of working harder just to keep the business afloat. Yet, there are other ways to thrive in this bear market. Bitcoin lending sites offer a new alternative for crypto miners with their convenience, accessibility and innovation.
BITCOIN LENDING SITES THE MOST CONVENIENT TOOL FOR MINERS
What’s the point of mining Bitcoin if you are just going to sell it to pay our electricity bill? Maybe for the miner that has a large scale operation and does it full time, they can turn a profit. But for miners using their hardware as a passive income source, the profits are simply not enough. Yet, if they utilize bitcoin lending sites, they can receive a near instant cash loan in exchange for their mined crypto as collateral. They can use these funds to pay the electricity bill or repair mining hardware. It’s quick and convenient compared to the slow and complex process of traditional banks.
BITCOIN LENDING SITES OPEN TO EVERYONE
To receive your crypto loan, legitimate bitcoin lending sites just require you to pass a simple know-your-customer (KYC) process. Once complete, you can take request loans immediately. Keep in mind though, there are a variety of platforms. Those that offer P2P lending services tend to be more inconvenient as you must wait to find a match that accepts your collateral. Instead, miners will be much better off with the following platform.
BITCOIN LENDING SITES THAT ALL MINERS SHOULD USE
YouHodler is the most friendly bitcoin lending site for crypto miners. With customizable loan terms, industry best loan to value ratio (80%) and near instant withdrawal/deposit times, this platform is the most innovative. Furthermore, with BTC, BCH, BSV, ETH, LTC, XRP and more as collateral options, miners can spread their collateral around to receive more loans. On top of that, this platform has an attractive affiliate program that allows you to earn 1-3% interest off every loan your affiliate takes. If done correctly, this is another nice passive income stream combined with mining.
So if you’re a crypto miner that needs cash now but doesn’t want to sell your crypto, give this site a chance and optimize your business today.