Just wandering if someone around here has borrowed some stable coin or fiat using BTC as collateral.
Where do you do it?, what advice would you like to share?, what's the APR?
Just thinking about it for buying more SATs. Too risky??
Thanks
0 sats \ 1 reply \ @TheBTCManual 27 Apr
I guess there are services like Unchained or LEDN, or you can do P2P lending
You can do it P2P on hodlhodl, and you're looking at 15-42% APR and finding orders based on your size is a pain in the arse, but you do the math and decide on the exposure along with the fees involved in moving on-chain and then the cost to acquire stables again to pay off your loan
Also keeping aside capital if LTV dips, its a ballache
It's not easy street thats for sure, and honestly most people shouldn't be using leverage lol
reply
0 sats \ 0 replies \ @Bitcoiner1 OP 27 Apr
Thanks, best replay IMO.
reply
0 sats \ 0 replies \ @Satosora 27 Apr
What happens when btc dips?
The lender takes that percentage back?
You woild probably be getting a fraction of the worth and taking all the risk.
Leaves a bad taste in my mouth.
reply
0 sats \ 0 replies \ @Fabs 27 Apr
Don't.
If, then I'd ask my family for a reasonable personal loan, interest free, and pay them back as agreed.
reply
0 sats \ 0 replies \ @bellabaxter 27 Apr
Short answer: don't do it
reply
0 sats \ 0 replies \ @halalmoney 27 Apr
#405243
reply