Crypto assets are increasingly being pledged as collateral for personal loans.

[Obreh Winfrey]

"All money is fake so we came up with an even faker version of money"

 

[JuvenileHell]

yall been saying crypto will fall for years Just accept it, shyt is here to stay

 

[Koli_Kat]

Sell a house in exchange for internet coins,brehs

 

[Ozymandeas]

yall been saying crypto will fall for years Just accept it, shyt is here to stay

Yup. If the Coli listened to @irishfury and bought Bitcoin back in 2012, 2013…every last one of us would be incredibly rich right now. Every one of us. You can go back and read the threads. Breh was on that sh*t from the jump but getting laughed at. We were too busy with exposal threads, gender wars and H0lt to listen

 

[☑︎#VoteDemocrat]

I can tell you guys from the ground floor. I put some of my btc up for collateral to get a loan from Coinbase to get some photography gear for my business. I did that back when btc was in the 36k range. Honestly I don't see how it's a bad way to borrow. Because 1. If you borrow using big blue chip coins like btc and eth, you're very likely to still have an increase in value of your crypto as you service your debt and can possibly cover your principal with your gains and 2. If you can't pay your debt and get assed out then your crypto will cover the collateral and itll then just be the money you would've spent anyway at that moment instead of getting fukked with penalty fees and increased interest

multiply by zero brehs

 

[Umoja]

scared money don’t make no money

Wish people would stop parroting bullshyt like that. Your portfolio is supposed to be diverse, with stable investments serving as the foundation.

 

[Uitomy]

It's really not as scary as you think, I don't buy doge or shib, literally only have Bitcoin cardano and hydra with some veve nfts mixed in there and I own silver as well. I use my Coinbase debit card to use my cash for stellar. Pretty simple honestly.

 

[Master Teacher]

Sell a house in exchange for internet coins,brehs

Did you even read the article, he took out a loan using his crypto as collateral and brought a house with the money, so his house is paid off, worst thing can happen is etheruem tanks and he loses all his money because the price went down to low and they liquidate his account

But even then his house was paid for in the cash he got from using his crypto has collateral which will still be a 2.5x lose compared to the amount of crypto he had to put up, but crypto is worthless is general, and he probably brought it when it was dirt cheap so it's a win

 

[Originalman]

This isn't a big deal. You can get loans off your car, house, 401k, IRA and etc.

So why not crypto.?

 

[Scustin Bieburr]

yall been saying crypto will fall for years Just accept it, shyt is here to stay

Crypto is staying, but its essentially like the stock market. You're still moving around 'money' that doesn't actually exist in physical form.

 

[☑︎#VoteDemocrat]

To be quite frankly we WILL see another financial collapse because our governments globally decided to stick with fiat money and let each other borrow themselves into oblivion, so might as well find some other methods, which is why I personally have most of my savings in crypto anyway. It's matured to the point we're seeing the first wave of big corporate players develop, I'm opting out of the dollar, we should have the freedom to choose the currencies we want without it being a burden on our neighbors

 

[☑︎#VoteDemocrat]

Wont happen with ETH.

But the vast majority of crytpo are ponzi schemes at this point and Bitcoin is stuck in a fundamental bull trap possibly forever imo. Stuff like this just shows you how illusory and fake the price support levels are. This shyt is as much a house of cards as the the US financial system that they criticize so much.

ETH is the exception though. They really have the chance to deliver on the promises of cryptocurrency

spoken like a religious adherent

 

[☑︎#VoteDemocrat]

This isn't a big deal. You can get loans off your car, house, 401k, IRA and etc.

So why not crypto.?

the FDIC, for one?

 

[Uitomy]

It's not a big deal, I only have cardano Bitcoin and hydra, 5k investment is now 60k, I'm never going back to a cash savings. Been holding since 2017

 

[GoldenGlove]

Good. The traditional banking system is dated and trash. Whoever came up with the original idea for banks is a genius tho. Got everybody depositing their money with them, and then investing it elsewhere... if you try and pull all your bread out of a bank, or a large amount out see what happens.



DeFi is not going anywhere and for good reason.