Laptopmag, a popular website that review and compare the latest laptops and tablets recently described AAVE (LEND) as the best cryptocurrency for the peer-to-peer lending.
Laptopmag published the article “The best cryptocurrencies of 2021 by utility“. Only six crypto projects were included in the article, including Ethereum (ETH), Monro (XMR), VeChain (VET), Polkadot (DOT), Cardano (ADA), and AAVE (LEND).
The article clearly indicates the unique reasons why they shortlisted these projects than others. In this regard, Laptopmag characterized AAVE (LEND) as the best cryptocurrency for the peer-to-peer lending.
The Article Writes:
“Aave is a Big disruptor for banking industry, Promising peer-to-peer lending protocol but Not beginner-friendly.
AAVE could potentially be one of the most useful cryptocurrencies due to its peer-to-peer lending ambitions. AAVE first launched in 2017 under a different name: ETHLend. In 2019, the crypto project was rebranded as “AAVE.”
AAVE runs on the Ethereum blockchain (another reason why ETH is ranked as one of the most useful cryptos of 2021). According to WealthSimple there are three advantages to AAVE’s peer-to-peer ending project.
The first one is, of course, allowing users to take out loans for cryptocurrencies. The second is that users don’t need to submit personal information to get approved for loans: AAVE doesn’t care about your credit score, race, socio-economic status and other social factors. As long as you have cryptocurrency that you can use as collateral, you can borrow on AAVE. Thirdly, acquiring loans on AAVE is reportedly damn-near instant.
AAVE certainly has the potential to completely disrupt retail banks and the current lending industry. However, cryptocurrency is still a new concept to the general populace and may not be the most beginner friendly.”