Experience with Bitcoin-backed fiat loans \ stacker news ~bitcoin

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Experience with Bitcoin-backed fiat loans

372 sats \ 12 comments \ @phaedrus 4 Mar bitcoin

Does anyone have experience taking loan against their bitcoin?

I found Unchained provides this, as well as SALT Lending, Sovryn Zero, Figure, and probably others.

I know it’s not Bitcoin standard but seems like a good way for people who need to buy things in fiat, better than selling (and paying taxes).

Has anyone used any of these services?

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36 sats \ 0 replies \ @zapsammy 4 Mar

use bitcoin & live on bitcoin, or take loans & pay taxes (fiat slavery).

621 sats \ 1 reply \ @Bitcoiner1 4 Mar

If you need cash the cheapest place to ask for a loan is your everyday bank. I've a friend who got a loan a couple of weeks ago, 5,58% for 72 months. No collateral needed.

If you can't get a loan and need to use your BTC as collateral, there are some options:

Lend by Hodlhodl: max amount $25.000. max duration 1 year. APR 17% (aprox), no KYC.
Ledn: no max amount. Max duration 1 year. APR 14%. KYC.
Fire fish: not sure about the conditions.

My piece of advice, have at least 4 times the collateral needed.

0 sats \ 0 replies \ @DarthCoin 4 Mar

510 sats \ 1 reply \ @k00b 4 Mar

https://lava.xyz is newer entrant. (I haven’t taken a loan so can’t comment on anything.)

0 sats \ 0 replies \ @DarthCoin 4 Mar

Fiat crap

300 sats \ 0 replies \ @flat24 4 Mar

I'm not very well informed on the subject, but I think "Lend of Hodl-hodl" is the most appropriate option to do some of this, taking into account that you never lose custody of your BTC.

And on the other hand, taking into account that you must over-collateralize your loan, I think it's simply better to use your BTC to buy, or you make an exchange and that's it, in the end bitcoin is our "savings" and our "money" should be used both to save and to spend.

200 sats \ 1 reply \ @DarthCoin 4 Mar

Those are total horse shit. You are goinv back to fiat not forward. Remember why we are here:

By taking a fiat loan you are not a bitcoiner anymore.

20 sats \ 0 replies \ @phaedrus OP 6 Mar

Agree. I haven’t said I was gonna take a loan, just curious of what the options are and what actual experience of people who did it were (rather than what I can read on their marketing websites)

100 sats \ 1 reply \ @marcbarbosa 4 Mar

These guys seems to have a pretty low APR (never used though): https://nexo.com/borrow Use it as collateral to buy more Bitcoin (not financial advice)

To save @DarthCoin time, I'll add his comment here: "Do not touch fiat otherwise you are tainted forever"