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Crypto lending works similarly to peer-to-peer lending, where borrowers are connected with lenders via an online crypto lending platform with cryptocurrency as the currency of trade instead of fiat money. Lenders then provide the assets for these loans in exchange for interest rates on the asset. The main difference of each type of crypto lending is who or what is handling the lending and borrowing process; a business or a protocol. Centralized crypto lending platforms use margin lending to attract users; they offer favorable interest rates and terms to crypto lenders compared to decentralized crypto lending.