Crypto loan

[nomad]

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.?

 

[Starmix]

I have not ventured onto crypto loan. I am a new crypto user. Someday of it grows big I may try it. To see is to believe. It's good to explore.

 

[Suba]

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.

 

[Starmix]

That is the enemy of bitcoins the unknown risks like the fluctuating market price and if you already started buying and suddenly price soaring it's a big loss of the investor.

 

[Suba]

Sorting was originally a strategy applied to stocks, but can also be applied to the crypto world, to take loans based on price predictions with the aim of making a profit.

 

[nomad]

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.

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.

 

[Suba]

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.

 

[Ratine]

For me l have never ventured fully on the crypto currency thing as l am very skeptical on that venture. However l bet that the provided they provide the loans with cheaper interest rates you are good to go.

 

[King Belieal]

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?

 

[Fidelia]

I know that Binance gives crypto loans but I have never even considered taking one. Why would I need to, except I am trading.

 

[nomad]

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?

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.

 

[You]

No, I haven't taken a crypto loan. I've been fortunate enough to fund my crypto investments and expenses without borrowing.

 

[Rubz]

I have not taken crypto loan and i don't see the need to ever do so. I wonder how it will feel like to take crypto loans. I wonder if the whole process is stressful.