Crypto Basics Series: Centralized Crypto Lending

PYMNTS is delving into the basics of the industry, providing an introduction to crypto that will give you a solid grounding in the technology and its lexicon. In this first of two articles, we’ll be looking at centralized crypto lenders, which have been in the news a lot in the last few weeks. Centralized lending platforms are centralized, meaning private companies, and decentralized finance (DeFi) platforms that use smart contracts to connect lenders and borrowers without a trusted third party like a bank in the middle. Even with interest, it’s a lot more complicated than banks offer, and lending interest rates are substantially better than banks. Even though the interest rates were always substantially better, there are some lenders, like the Source