Our goal is for you to keep the bitcoin you put up as collateral. So we will be in communication at any point your LTV approaches critical levels. We are also developing some future "safety features" but those won't be ready at launch.

But the basic answer is that when your LTV crosses a dangerous threshold you will get a margin call to put up more collateral. You could also just pay down your balance owed.

Just pay the bill probably if you don’t have the money then you get liquidated. That’s how margin works

Thank Jeff, the key agent is a neutral business whose sole purpose is the safe custody of keys . Very similar to other businesses like Unchained. Hope that helps.

that's right, unless you decided to pay off your balance in bitcoin

Location matters because we are a regulated business and we have to get approval in each jurisdiction (in the case of the US, each State).
To clarify on KYC - despite the lack of credit check with a financial institution, customers of Bold do need to go through KYC in order to get the credit card, that is just how credit card transactions are required to work. It would of course be ideal not to have to KYC, but it's a necessary tradeoff. You do get fraud protection and chargebacks as a benefit from that.

We do need to go through the requests to pull your coins to make sure your account is in good standing to do so, but it would not be a long wait (under a day maximum)

We will not rehypothecate your coins, you always have a key to verify that is the case. There are even third party services you can use to notify you if your coins move on the blockchain, and we encourage you do to whatever makes you comfortable with the setup. The coins will never move.

This is a worthwhile initiative for sure. Also check out https://btcmap.org/map

Bitcoin is the asset, we only work with bitcoin. I think the world is starting to realize the benefits of it as collateral. And way easier than other assets that can be used as collateral - no rusty pipes or leaky roof :)

KYC is similar to a typical credit card, yes

I know first-hand the Ledn model and I think safe to say that the overall amount of interest you'd pay will be much less with Bold. Main reason is with Ledn you take out the entire amount of your loan and start paying interest on it from day one.

With Bold, you can spend for a month and then at statement time decide what you want to pay down. If you pay it down completely, you pay no interest. But even if you carried the entire balance, it's only after that month that you being accruing interest.

yep, @boldbitcoin