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