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0 sats \ 0 replies \ @criptopanas 17 Feb \ on: BTC for Cuban Pesos? AskSN
Yes, there is a big community using lnp2pbot on Telegram on the Island.
What can we lear from this episode?
IMO, the most important call is not to "advertise" that you're a Bitcoin hodler, as wearing clothes or hats with the BTC logo.
Second, be aware when you talk about BITCOIN with an estranger, maybe you're sharing too much information.
Third, think about the best custody system for your personal cases, maybe having a decoy wallet could be a good way to implement.
What would you add to this short list??
I've been in both side of the loans.
My experience with Ledn.io:
It was very straight forward, I deposited my BTC, in less than 5 minutes I got my loan with a 50% LTV (for example, $1000 worth of BTC I got $500), the interest rate was about 14,2% year. I could pay the loan before the year with no fees or penalties.
I bought some SATS with the money I got from the loan. During my loan the price went down and I needed to send more SATs to add more colateral.
It was a risky move, I'had some sleepless nights. It's not for everyone!
My experience lending funds on Lend by HodlHodl:
I have a small amounts of my saving on stablecoins , because we liked or not is a strong currency compare to the EUR.
I use this USD saving as liquidity and when I know that I'll not use this funds for some time, I lend part of it on HodlHodl.
I've done some loans backed by BTC for a good interest rate (sorry for my FIAT mentality) between 14% to 60% year. I always got my capital + interest back, no problem at all.
OFF COURSE, buying and holding BTC would have been more interesting, but this money is the one I use for the short term.
If the other person won't pay me back, I would get some BTC for the value of my capital + interest.
I did some research about Firefish, but it was very complicated the custody part...