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95 sats \ 3 replies \ @ken 15 Nov \ on: Biblical interest free lending using Lendsat. Christianity
Do you lend bitcoin or fiat? I don't understand how my Bitcoin can be locked up in an on-chain address if it is also being lent out. Sorry if this is a stupid question.
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21 sats \ 2 replies \ @BlokchainB OP 15 Nov
Backed by bitcoin to lend out fiat. Lending in bitcoin is a tough proposition for the borrower.
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50 sats \ 1 reply \ @ken 15 Nov
Thanks! I see, so the borrower posts bitcoin in exchange for a stablecoin loan, and so if I wanted to provide loans, I would need to provide stablecoins.
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21 sats \ 0 replies \ @BlokchainB OP 15 Nov
Or regular dollars. Lendasat has many different currencies you can lend out.
I stick with USDT liquid because it’s the only stable that is somewhat linked to Bitcoin. The others I try to avoid
But Lendasat developed a cool swap service between lightning and USDC on polygon which makes it extremely fast and cheap to get dollars into Robinhood. Way better than using ACH.
That is the only other stable I use to manage my fiat and bitcoin swaps
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