55 sats \ 2 replies \ @OT 11 Jul
Is this how it works? I lock up collateral to buy a computer. Let's say 2m sats. Lendasat buys it for me and I can pay it back at a later date when Bitcoin is worth more in USD terms. So when Bitcoin is 100k I can pay back 1.2m sats + your fee to get my collateral back.
What's the liquidation point? When LTV hits 80%? 90%?
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The liquidation point is reached once the collateral is not able to cover for the original principal + interests anymore.
Lets assume a LTV ratio of 67% and a loan of $5,000 at the market price of $65,000. You'd have to put up a collateral of $7,500 or 0,1154 btc.
If the price drops to $43,333, the collateral of 0,1154 would have reach an equal value of the original principal ($5,000), thus the liquidation point is reached.
This simple example ignores any fees and interest to be paid, what would change the liquidation price.
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13 sats \ 0 replies \ @OT 11 Jul
67% seems quite low. Ledn is around 80%, and hodlhodl is around 90%.
How long are the loans? Years?
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Better option: stack harder, NEVER go into debt and pay when you have enough.
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Friends don’t let friends sell their bitcoin.
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Sometimes, you need something now
And it's not the best time to spend.
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I don't fully understand it yet, but it does look promising! The fees are between one- and two percent and one-time? Or per month?
Is there going to be some sort of calculator?
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There is going to be an originator fee of 1-2% and an interest e.g. 1% on the loan. The originator fee is only to be paid once and the interest is to be paid on a monthly basis.
Is there going to be some sort of calculator?
We don't have one yet, but if you search for loan calculator you may find many useful resources.
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Awesome, I'll keep a very close eye on this one.
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I think get the concept behind the ad (please correct me if I'm wrong): don't delay instant gratification, delay instant payment.
But maybe you could flip it on its head: layaway and save. (Did you know you can decrease time preference of payment, without sacrifice?)
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Sometimes, you need something immediately, but it might not be the best time to spend.
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Can repayment be made in USD and BTC?
If that's the case, no matter which way bitcoin moves, the buyer can save.
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Lendasat is a Bitcoin-only product.
Your invoice is instantly paid with Bitcoin, and the repayment is made in Bitcoin.
No fiat or stable coin involved.
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You can buy such shoes from me in only 35000 Sats!
Tomorrow, can be in 30000 Sats!
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I could buy it from you now, and pay later 😎
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