While crypto currencies have become more mainstream than ever before, most people still don’t know what crypto currencies are, how they work, or what they can be used for. Furthermore, only a small percentage of the population has even heard about them.
What is Peer-to-Peer Lending?
Peer-to-peer lending is a type of lending where investors pool their money and lend it out to others who have a need to borrow money. These funds are lent out to borrowers through an online platform that allows lenders and borrowers to connect.
The borrower of the money repay the loan amount plus an interest rate. The interest rate will vary depending on the platform but typically ranges from 4% to 8%.
Using P2P in Gambling
Peer-to-peer lending is a relatively new concept that has been gaining traction in the online gambling world over the past few years. When it comes to gambling, peer-to-peer lending is a type of investment that individuals can make in order to fund the creation of new games.
These types of investments are made by individuals who have a stake in the success of the game or business being created. In other words, peer-to-peer lending can be thought of as a type of crowdfunding.