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Experience with Bitcoin-backed fiat loans
331 sats \ 7 comments \ @phaedrus 6h 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 5h
use bitcoin & live on bitcoin, or take loans & pay taxes (fiat slavery).
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21 sats \ 1 reply \ @Bitcoiner1 1h
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:
  1. Lend by Hodlhodl: max amount $25.000. max duration 1 year. APR 17% (aprox), no KYC.
  2. Ledn: no max amount. Max duration 1 year. APR 14%. KYC.
  3. Fire fish: not sure about the conditions.
My piece of advice, have at least 4 times the collateral needed.
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0 sats \ 0 replies \ @DarthCoin 1h
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105 sats \ 1 reply \ @k00b 5h
https://lava.xyz is newer entrant. (I haven’t taken a loan so can’t comment on anything.)
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0 sats \ 0 replies \ @DarthCoin 2h
Fiat crap
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29 sats \ 0 replies \ @south_korea_ln 5h
#860305
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0 sats \ 0 replies \ @DarthCoin 2h
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.
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