Using Bitcoin as Collateral for Instant Loans

nainaempire

Senior Villager
#1
We all know that we can leverage our crypto by trading or keeping it for value appreciation.

However, you can also leverage your crypto currencies including BTC,Ether among few others to get instant loans up to 50% LTV(Loan to Value).

I came across nexo.io website who are some of the pioneers of that business. You simply do your KYC send your btc/eth in their secured wallet(your nexo wallet) and the system automatically shows you how much you qualify. Their rates are 16% APR or 8% APR if you use nexo coins.

Pros
Instant loans.
No credit checks no ratings.
As the value of your crypto grows so does the opportunity to acquire more loans with the same original deposit.

Cons
If the value of your crypto drops waay beyond their threshold value then you would be required to add more or they would have to liquidate to recover their amount.

Check them out at nexo.io(No affiliation just information)
 
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