Rikkei Finance
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Rikkei Finance

03 features of Rikkei Finance that can help you earn more

Apart from purchasing cryptocurrency and waiting for its value to rise, there are many other ways to gain profit in the world of digital assets. Here in this article, Rikkei Finance will list the main three methods to earn more on the platform, from DeFi lending & borrowing, NFT renting, to NFT-based lending & borrowing.

03 features of Rikkei Finance that can help you earn more

DeFi lending

Decentralized peer-to-peer lending, or DeFi lending, is similar to the traditional lending service provided by banks but is carried out through decentralized peer-to-peer applications (DApps).

In conventional finance, one opens a savings account and deposits money to earn interest on the money. But with DeFi, cryptocurrency investors can either deposit their assets into a liquidity pool. This pool of cryptocurrency is then used to provide loans to other users. These loans often have interest rates that are significantly higher than conventional loans, which attracts lenders.

Rikkei Finance, as a DeFi lending system, enables cryptocurrency lending and borrowing, allowing asset owners to generate another income. We use smart contracts to automate the lending process. So, consumers don’t need to worry about middlemen when locking their cryptocurrency assets. P2P lending allows borrowers to choose loans directly from the decentralized platform, as well.

NFT renting

Renting an NFT means borrowing one for a specific time. Using a smart contract, which serves as an escrow and typically requests a deposit, makes this possible. After the rental period, the NFT must be handed back to the original owner.

Among cryptocurrency investors, renting NFTs has grown in popularity as a way for them to keep up with the latest NFTs without really purchasing them.

For the lender, renting NFTs opens up a great source of passive income if he/she has digital assets that are in great demand or are well-liked. This concept is popular, especially in the GameFi space since many NFT games require significant initial investment before you can start playing to earn.

From the borrower’s perspective, it presents a chance to interact with the NFT community. In addition, renting NFTs is a cost-effective approach to some of the premium NFT services without having to make a sizable investment. There are some people who might only want to use an NFT within a specific period of time, so renting in this situation is preferable as it still gives them access to the NFT as needed.

NFT Lending

Since NFTs can be used in place of physical goods as collateral, NFT loans are growing in popularity. These loans, which will soon be provided by Rikkei Finance, are intended to promote more effective lending. It is not necessary for borrowers to utilize fiat money each time they apply for a loan if they use NFTs as collateral. Even when the market is collapsing, this strategy is favored.

To begin a loan, the borrower deposits an NFT on the platform as collateral with a loan offer, then let the NFT locked in the digital vault within the predetermined time period. If the borrower pays off the loan on time, the NFT will be returned, and the lender will earn from the interest.

If the borrower defaults on the loan, the lender has the right to claim and possess the asset. Plus, the borrower has the option of a loan rollover. When a loan matures, the borrower may choose to roll it over into a new loan with the lender’s approval rather than paying it off. The previous loan’s conditions and other components will be carried over, with or without the interest.

In conclusion, there are numerous ways to profit from cryptocurrencies. DeFi lending, NFT rentals, and NFT lending are three of the top strategies. All of these options can be carried out with Rikkei Finance.

About Rikkei Finance

Rikkei Finance is a Web3 platform, encompassing a DeFi lending protocol and an NFT Marketplace; with a focus on NFT rentals and NFT based lending and borrowing. Also, Rikkei Finance continues to expand coverage on multi-chain to help users utilize the underlying value of any digital assets.

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Disclaimer: The information herein is for educational purposes only and should not be considered financial, investment, or trading advice. Please conduct your own research and due diligence before making investment decisions. You understand that you are using the Information provided at your own risk.

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Rikkei Finance is a Web3 platform, encompassing a DeFi lending protocol and an NFT Marketplace; with a focus on NFT rentals and NFT-based lending and borrowing.

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Rikkei Finance

Rikkei Finance is a Web3 platform, encompassing a DeFi lending protocol and an NFT Marketplace; with a focus on NFT rentals and NFT based lending and borrowing.