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Bitcoin Lending Services Exploded in 2020: Here’s Why
Bitcoin lending services have grown so much because they are a relatively new product in the market and they’re meeting a demand that’s also growing—and becoming more institutional. “For a while these things didn’t exist. There are options. These things are needed in this market, as they’re needed in every other market in the world. It’s still early in the growth of the lending functionality within the cryptocurrency market,” said Prince. Another aspect is tax. Trenchev pointed toward New York’s capital gains tax of 44%. “Half of it evaporates and goes to Uncle Sam—which is not great,” he ... (full story)
