370 sats \ 6 replies \ @NorthKoreanHostage 4 Jan 2023 \ on: Faucet21 - Get an unsecured personal loan that automatically converts into BTC bitcoin
There's got to be the catch. What am I missing?
Haven't found one myself, but for sure somebody at SN will find it if there's one.
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Seems like layaway for bitcoin. If you don’t pay all installments they keep your money + bitcoin. Unless I’m missing something.
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Yep, that's the only way they'd be able to provide lower installments than compared to traditional unsecured loans.
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But they say you can withdraw the whole BTC amount either little by little or all at once. Wouldn't that be something different than layaway? Assuming I understand how layaway actually works...
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Good point.
No idea, honestly. They might still be in the phase of figuring this out. Let's see.
Could also just be "normal" unsecured loans, with the sole difference being that it's marketed towards bitcoiners. Wouldn't surprise me, tbh.
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Thank you. That sounds more plausible to me, but I'm curious. Yeah, let's see...
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