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11 sats \ 3 replies \ @k00b 1 Dec 2022 \ on: Hello Stackers! Bold is a credit card backed by your bitcoin stack. AMA! bitcoin
Are you aware of other non-bitcoin credit cards that use collateral in this way or this entirely new given Bitcoin's properties?
We are closer to a secured line of credit if you're looking for comparables. But there's nothing on the market today that uses the amazing properties of bitcoin in this way, as a credit card.
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That's what I was looking for, thanks! I'm a debt-phobe so not super acquainted with the space. So this like a secured line of credit, which I presume could be any kind of asset, but Bitcoin allows the securing asset to be held in a collaborative manner rather than in some weird legal or custodial arrangement.
Are there any other unique advantages using Bitcoin gives Bold? Are all the KYC requirements the same, for example?
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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
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