Hello Friends,
I have been spending some time on LeoPedia since last week and trying to learn more about crypto and blockchain. This is very useful because I believe that knowledge is the key to get success in the crypto market and this is why I am trying my best to make myself more updated with the new things as well as how things work in crypto and blockchain. Leo Pedia is a fantastic portal developed by Leo's finance team and there is a lot of content that is worth reading. This week I spend time on block 5 and got to know how it works and what is the best use case that we can follow to make our crypto journey better.
Leo fight is a centralized crypto side loans platform where we can get the loan by keeping our holding as collateral. This is easier and there is no need to go through a complicated process like we need to do in the traditional world, but we also need to know that this is not decentralized. This means that this is a saintly-owned company, and the entire process is managed by the same entity. There is also an option to deposit our crypto and earn a decent passive income but that is not a requirement if we are looking for loans through the crypto. The Leo finance founder has nicely explained some of the topics here. These topics are the ways to get a loan and what is the process that works. How much is the percentage required for a particular amount of known and what are some pros and cons of going with these centralized finance platforms?
When we say that decentralization is the future but at the same time some companies are centralized, and they are also providing good services to the users in the crypto market. I did not know that there is an option where we can keep our crypto IS collateral to get the loan against it up to a certain percentage. I know that sometimes we come across this situation when we need money, but we do not want to sell our crypto because it is for the long term and getting liquidity can help us. Block 5 is one of the platforms which can solve this problem where we can collect rise our Bitcoin and some other cryptos, but we need not sell it and we can get the liquidity against the holding.
I have not used it till now but the way it is explained and how it works is interesting and I will consider giving it a try whenever they do a requirement. I'm not a big crypto holder so probably I might not be eligible for the crypto back loans but there are options where I can deposit the crypto and earn a decent income. Even if I'm not participating in any of their plans then also it is very helpful to understand how this platform works and how it can help many crypto people to hold their crypto instead of selling it just for some sudden requirement of funds.
I would like to say thanks to the Leo finance founder because he did a great job by providing this content and this can educate a lot of people over here. Probably I believe that this is a gym provided by Leo finance and it requires more attention from the community but sadly I did not notice that. I think this should be shared with any newbie joining the platform so that they can learn and understand more about the platform as well as crypto and blockchain technology.
Thanks a lot
