There are any lot of platforms where you can get crypto loans. These platforms allow you to use your crypto assets as collateral and you can get upto 80 percent loan. Celsius was a popular crypto loan platform until it collapsed. Next is another popular platform. Binance also has lending option. Have you ever taken crypto loan, what platform did you borrow fro.?
Crypto loan
- Thread starter nomad
- Start date
Even though there are many platforms that provide Bitcoin loan options, currently the price of Bitcoin is in a bullish trend, so it doesn't allow us to do sorting, unless we really speculate and bet on predictions that the price will fall in the next few days.
- Thread starter
- #6
What about using stable coins like USDT as collateral for your loan? Unlike other crypto assets, stable coins do not fluctuate so your payable interest will not fluctuate and your collateral also remains the same.
If we only use stablecoin (USDT) as collateral, it won't be a problem, but if we are going to implement a shorting strategy, we have to take a crypto loan such as BTC or ETH, so there is a possibility of making a profit.
I don't even understand how these crypto loans work. When they say you use your assets as collateral, that means you can't use your assets to trade for the duration of the loan?
- Thread starter
- #11
That's correct. Just like you use your property as collateral for a bank loan and cannot sell your property, the same thing goes with crypto assets as a collateral.
