Ideally whoever is providing it is a Bitcoin only company. Any ideas?
90 sats \ 9 replies \ @ama 29 Jan
https://sovryn.app/borrow/line-of-credit
reply
10 sats \ 8 replies \ @kevin OP 29 Jan
These are always way too complicated for anyone to actually understand what the hell is going on. Also a juicy 13% origination fee rate 🤯
reply
20 sats \ 6 replies \ @ama 29 Jan
At 0% interest and for as long as you want to keep it.
reply
10 sats \ 5 replies \ @OT 29 Jan
What kind of stable coin are you getting?
You mean its 13% origination fee and thats it forever?
reply
10 sats \ 4 replies \ @ama 29 Jan
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.
reply
10 sats \ 3 replies \ @OT 29 Jan
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.
reply
0 sats \ 2 replies \ @ama 29 Jan
Because ZUSD is backed by BTC, your collateral, not by USD like the usual stablecoins. Nobody's actually lending the money, it's actually your own.
If you pay it back in 20 years, you get your collateral back in 20 years, or you could keep borrowing more ZUSD when the collateral BTC goes up in price.
reply
0 sats \ 1 reply \ @OT 30 Jan
I'll have to look into it a bit more. Who prints the ZUSD then? Is it just the protocol or Sovryn?
Do you think there's any chance RBTC can lose its 1:1 peg?
view replies
0 sats \ 0 replies \ @037447d9ca 30 Jan
there's also the more classic APY based https://sovryn.app/borrow/fixed-interest
reply
52 sats \ 0 replies \ @Bitcoiner1 29 Jan
Lend by Hodlhodl &
Ledn are the options that I know about it.
reply
61 sats \ 3 replies \ @supertestnet 29 Jan
https://github.com/supertestnet/loan-shark/
reply
10 sats \ 2 replies \ @kevin OP 29 Jan
You willing to loan me some dollarinos? :)
reply
10 sats \ 1 reply \ @supertestnet 29 Jan
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)
reply
0 sats \ 0 replies \ @kevin OP 29 Jan
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! :)
reply
31 sats \ 4 replies \ @KLT 29 Jan
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!
reply
10 sats \ 2 replies \ @kevin OP 29 Jan
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.
reply
0 sats \ 0 replies \ @Fabs 29 Jan
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.
reply
0 sats \ 0 replies \ @KLT 29 Jan
Same. I feel like I’ll have more trust in something like this within the net 7 - 10 years personally.
reply
0 sats \ 0 replies \ @kevin OP 29 Jan
deleted by author
reply
31 sats \ 0 replies \ @nullcount 29 Jan
https://bitcoinmagazine.com/guides/bitcoin-backed-loans
reply
21 sats \ 0 replies \ @arrivederci 30 Jan 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/
reply
13 sats \ 2 replies \ @hodlpleb 29 Jan
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
reply
11 sats \ 1 reply \ @kevin OP 29 Jan
Surely this is AI generated 😂
Who in their right mind would use BlockFi or Celsius?
reply
687 sats \ 0 replies \ @hodlpleb 29 Jan
I put it there on purpose 🙃
reply
11 sats \ 1 reply \ @ZezzebbulTheMysterious 30 Jan
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.
reply
0 sats \ 0 replies \ @arrivederci 31 Jan
Investopedia article on Securities-Based Lending :
https://www.investopedia.com/terms/s/securitiesbased-lending.asp
reply
10 sats \ 0 replies \ @Coinsreporter 30 Jan
You can get it on most exchanges. I do it with Binance
reply
10 sats \ 0 replies \ @OT 29 Jan
If you want stablecoins hodlhodl is probably the best. If you want actual USD there's a platform called ledn
reply
10 sats \ 0 replies \ @NOV 29 Jan
https://unchained.com/loans - currently opens to business entities.
reply
10 sats \ 2 replies \ @kevin OP 29 Jan
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 :)
reply
0 sats \ 1 reply \ @037447d9ca 30 Jan
lol why couln't you just dex into other token?
reply
0 sats \ 0 replies \ @kevin OP 30 Jan
Can't find any place that will do the trade without massive fees and enough volume.
reply