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My understanding is that many of them don't really pay off the loan. They refinance.
Are you asking how you can get non-collateralized (aka unsecured) loans? Or are you asking how you can get smaller collateralized loans?
this territory is moderated
Hm. I'm referring to smaller collateralized loans.
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99 sats \ 10 replies \ @k00b 4 Mar
If it's a traditional asset, you should be able to go to a bank or other financial institution.
If you want to use bitcoin as collateral, Unchained does this but you have to over-collateralize (40% LTV). Others might do something similar but I'm unaware of them.
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Yeah, I've heard of Unchained, and have been considering them as well as Nexo, but I remain skeptical of both.
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99 sats \ 6 replies \ @k00b 4 Mar
Skeptical how? With Unchained at least, they can't unilaterally and opaquely rehypothecate your collateral because you hold a key to the collateral.
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Didn't they cancel their lending product? Or did I hallucinate it?
Their website suggests it exists, which is a vote for the latter.
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27 sats \ 0 replies \ @k00b 4 Mar
I had the same hallucination until I looked it up. They might've just increased the minimum or something.
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Meh, I still don't trust it enough, they're also pretty expensive ain't it? Would you make use of their services?
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99 sats \ 2 replies \ @k00b 4 Mar
I don't use credit. I'm too afraid of dooming my future self.
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Really? No credit at all, or just no big-ticket items that usually require credit?
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I breath risk, but not of the bad kind.
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Definitely don't touch Nexo. Very shady.
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0 sats \ 0 replies \ @Tef 4 Mar
I guess the risk is very high in the case of Unchained or Nexo, while going to a bank for a loan you will pay high interests. It’s difficult to answer this question.
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