How to Make Passive Income with CeFi

For over a decade now, cryptocurrencies and its underlying technology, blockchain have been shattering our traditional notions of money and value. Now, with the advent of DeFi (Decentralized Finance), our notions of traditional financial products like loans and savings accounts have been obliterated as well. CeFi (Centralized Finance) offers us yet another alternative, combining the best of DeFi with the governance of a centralized body- generating financial products with ginormous returns. This post will also take a gander at the leading platforms in this space, Crypto.com, Nexo and BlockFi.

The Current Economic Crisis = Perfect for Crypto

Though the hype of cryptocurrencies has yet to hit the highs of 2017, this innovative space continues to surprise the world, especially when the world is in crisis mode. One of the biggest pluses of cryptocurrencies besides its deflationary nature, is that it’s also trust-less and decentralized. The current economic crisis due to the ongoing pandemic is the perfect vehicle for such an economic system.

As part of its stimulus plans, the U.S. government printed trillions of US dollars, making whatever money that is sitting in our banking accounts lose value. The government also lowered interest rates, which means investors and income seekers can’t find a healthy…