Reckless – Chapter 8: The Emergence Of Lending Markets

Chapter 8 of the book Reckless: The Story Of Cryptocurrency Interest Rates is published below. BitfinexThe first significant Bitcoin lending markets emerged on a cryptocurrency exchange called Bitfinex. These rates were especially attractive in an environment where interest rates in the real economy were pathetically low. In contrast to US Dollar rates, the Bitcoin lending rates were much lower, at around 10%. It is not clear if this rate represents a Bitcoin interest rate.