Ideally whoever is providing it is a Bitcoin only company. Any ideas?
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90 sats \ 9 replies \ @ama 29 Jan 2024
https://sovryn.app/borrow/line-of-credit
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10 sats \ 8 replies \ @kevin OP 29 Jan 2024
These are always way too complicated for anyone to actually understand what the hell is going on. Also a juicy 13% origination fee rate 🤯
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20 sats \ 6 replies \ @ama 29 Jan 2024
At 0% interest and for as long as you want to keep it.
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10 sats \ 5 replies \ @OT 29 Jan 2024
What kind of stable coin are you getting?
You mean its 13% origination fee and thats it forever?
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10 sats \ 4 replies \ @ama 29 Jan 2024
Yes, you don't pay any interest (0%) for as long as you want. You get ZUSD, that can be converted to others on the dex.
What I don't know is how to get fiat into your bank account (to buy a house or something) and prove it's a credit, to not incurre on a taxable event.
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10 sats \ 3 replies \ @OT 29 Jan 2024
That doesn't make sense to me. Why would someone take the other side of that trade?
I borrow 100k, I owe 113k. I pay it back in 20 years and the lender earns less than 1% PA.
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0 sats \ 0 replies \ @037447d9ca 30 Jan 2024
there's also the more classic APY based https://sovryn.app/borrow/fixed-interest
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52 sats \ 0 replies \ @Bitcoiner1 29 Jan 2024
Lend by Hodlhodl &
Ledn are the options that I know about it.
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61 sats \ 3 replies \ @supertestnet 29 Jan 2024
https://github.com/supertestnet/loan-shark/
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10 sats \ 2 replies \ @kevin OP 29 Jan 2024
You willing to loan me some dollarinos? :)
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10 sats \ 1 reply \ @supertestnet 29 Jan 2024
it's bitcoin only, there are no dollars
but I am willing to lend you some bitcoins which you then trade for dollars however you like (I recommend p2p, e.g. robosats)
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0 sats \ 0 replies \ @kevin OP 29 Jan 2024
Unfortunately I do not want to be on the other side of that trade pre-halving 😂
I do appreciate the offer though, would be cool to actually try it out! :)
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31 sats \ 4 replies \ @KLT 29 Jan 2024
Funny I just spoke to a friend of mine about this. The loans are only for a year or two these days I’ve heard. But not sure if that’s 100% true. Definitely something to consider in the future.
When we do buy a house in the future, I thought about a bitcoin backed loan, and then I was like maybe I’ll just save up some melting fiat ice cubes and just give them that as a deposit, ideally get a low interest rate, and use surplus capital to continue stack sats or occasionally use some sats savings to pay down the mortgage. Plenty of options I guess!
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10 sats \ 2 replies \ @kevin OP 29 Jan 2024
The only provider I've seen that does actual lines of credit is Nexo but I don't trust them enough to actually stick anything in there.
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0 sats \ 0 replies \ @Fabs 29 Jan 2024
Yeah, I've been eyeing Nexo for, like, 4 -5 years now; they still haven't sunken yet... I'd go there if I really needed a line.
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0 sats \ 0 replies \ @KLT 29 Jan 2024
Same. I feel like I’ll have more trust in something like this within the net 7 - 10 years personally.
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0 sats \ 0 replies \ @kevin OP 29 Jan 2024
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31 sats \ 0 replies \ @nullcount 29 Jan 2024
https://bitcoinmagazine.com/guides/bitcoin-backed-loans
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21 sats \ 0 replies \ @arrivederci 30 Jan 2024 freebie
Bitfinex runs a borrowing platform that is peer to peer but where they manage the matching (of borrowers and lenders) and is, in my experience, quite easy to use.
https://www.bitfinex.com/borrow/
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13 sats \ 2 replies \ @hodlpleb 29 Jan 2024
Not something I would suggest at this time. With the volatility, the odds of getting called and losing your bitcoin are risky.
If bitcoin goes to 1M+, wait for a bear market, then take that low number and borrow 10-20% of that low number. Hopefully safe then.
Look into BlockFi or Celsius if you are still interested.
How the wealthy will never sell bitcoin
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11 sats \ 1 reply \ @kevin OP 29 Jan 2024
Surely this is AI generated 😂
Who in their right mind would use BlockFi or Celsius?
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687 sats \ 0 replies \ @hodlpleb 29 Jan 2024
I put it there on purpose 🙃
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11 sats \ 1 reply \ @ZezzebbulTheMysterious 30 Jan 2024
hear me out:
Securities Based Lending at prime rates from The Bank/Brokerage account holding IBIT or other Bitcoin ETF.
There is no in-kind issuance or redemption yet, so there is no easily going from BTC->ETF->BTC, but when that happens, this will be the best way to borrow fiat against Bitcoin. Otherwise its BlockFi or Celsius all over again.
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0 sats \ 0 replies \ @arrivederci 31 Jan 2024
Investopedia article on Securities-Based Lending :
https://www.investopedia.com/terms/s/securitiesbased-lending.asp
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10 sats \ 0 replies \ @Coinsreporter 30 Jan 2024
You can get it on most exchanges. I do it with Binance
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10 sats \ 0 replies \ @OT 29 Jan 2024
If you want stablecoins hodlhodl is probably the best. If you want actual USD there's a platform called ledn
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10 sats \ 0 replies \ @NOV 29 Jan 2024
https://unchained.com/loans - currently opens to business entities.
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10 sats \ 2 replies \ @kevin OP 29 Jan 2024
https://fuji.money is a thing and you can mint FUSD... but then you have a problem, you're stuck with FUSD and have no way of getting it into something like USDT or actual currencies you can use :)
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0 sats \ 1 reply \ @037447d9ca 30 Jan 2024
lol why couln't you just dex into other token?
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0 sats \ 0 replies \ @kevin OP 30 Jan 2024
Can't find any place that will do the trade without massive fees and enough volume.
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