*Mherm*
Coindesk wrote a piece breaking the news that Coinbase is offering Bitcoin backed loans, with a loan to value ratio of 30% (for every $100 in BTC, borrowers can take out $30 in loans), up to $20,000 in loans.
As opposed to other Crypto lenders; Coinbase has ties with J.P. Morgan, so they are not only insured, but licensed & among the world's biggest, most influential Exchanges.
Depending on their success, other Crypto Exchanges may start lending, in a FOMO race for user's Crypto & Fiat. Ill-prepared Cash App is attempting such, with small loans. Ledn, SALT, Nexo, Celsius, Compound among others have a healthy head start, even if their pockets aren't as deep.
How does this affect you?
Cheaper loans, lower loan rates, higher savings interest rates, sky-rocketing value on Celsius, Nexo & Compound tokens ... Let the Loan Bull Market Bubble Begin!
Disclaimer: I do hold a substantial amount in several Crypto mentioned; mainly Nexo. Even though I've tried writing unbiased reviews so far, it's best to always DYOR and check with trusted financial advisors before taking on debt or investing & Here's a link to a referral list for those who like discounts, bonuses, etc. Thank you for reading; I welcome any feedback good or bad in the ratings & comments. :)
