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     4 years ago  

    It depends on how you see it. Get a loan in crypto or use crypto as a security? I think it can be a good leverage to double on tokens if done wisely.

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     4 years ago  

    They are an excellent idea and really practical.

    For example, lets say you are getting a $2,500 bonus at the end of the year. Yet you are going on vacation and want the money now. Presently, going to a bank is a nightmare even if you have a lot of assets. Then there is credit cards which charge you 18% interest.

    With a crypto loan, you can put up your tokens, get the loan, and pay it back when you get your bonus. You can do that without crazy fees or hassles.

    Plus it is a boom for speculators.

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     4 years ago  

    @taskmaster4450le

    Crypto loans are wonderful and a great tool to grow our crypto portfolio.....

    I have done some investigations and decided to share four platforms where one can get crypto backed loans with awesome interest rate and various wonderful loan services that are affordable and covenient for the user who needs the loan...you can check out the post here ..

    https://leofinance.io/@pelemi/lists-of-where-to-get-crypto-loans

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       4 years ago  

      @pelemi thanks for sharing that info...at least many people like me now know where we can access crypto loans that are affordable,I personally would not want to get a loan that will put me in more debts instead of saving me from debts...

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         4 years ago  

        @taskmaster4450le what an amazing strategy to use to easily pay back crypto loans,I will put it into action....thanks for the amazing info...

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           4 years ago (edited) 

          @miyimiti

          I have heard about some crypto platforms that offers crypto loans to users who are interested,well I find the idea to be a good one,at least those that genuinely need the loan for some certain projects can be able to obtain the loan and use it for the project and be able to also return back the debt
          ..though the interest rate should be sensible and be affordable for the person that needs the loan...

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           4 years ago  

          I think that would make an excellent post subject for us to discuss and I even wrote it down for me in the future hahaha ...

          I find it very interesting and important for anyone who wants to take out a loan.

          Today what we see in reality are the banks always bringing difficulties for even in some cases that they do not even need, there is a lot of bureaucracy, paperwork to sign and in the cryptoverse sometimes just a few clicks and leave your tokens as collateral. There, you get a loan.

          Cryptocurrencies have come to help us in several cases in our lives.

          Posted Using LeoFinance Beta

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           4 years ago  

          I think the biggest problem is that we need a good stable coin if we want to do crypto loans. Normal cryptos are far too unstable. Get a +/- 30% swing and it can be heaven or hell to pay off that loan.

          Posted Using LeoFinance Beta

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             4 years ago  

            I personally wouldn't take them because of the volatility of crypto. I better undertake some tasks to receive them (non-refundable).

            Posted Using LeoFinance Beta

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