Coinbase

Coinbase Now Let's You Borrow Cash!! No Credit Check!!!

By KadilaK81 | Chris Kinley | 30 Oct 2020


    Coinbase has just announced that they are getting ready to start lending cash to all Bitcoin holders based upon the amount of Bitcoin you hold in their exchange. The way this works is if you hold $100 in Bitcoin you're able to borrow $30 in cash (30%) without touching your initial Bitcoin investment, and also there is no credit check. so those that hold thousands of dollars worth of bitcoin can obviously use this to their advantage and buy more cryptocurrencies when the market is putting out buy signals without having to use their own capital.

   There will be a 8% APR that you will be charged for borrowing money but the money can be paid back in weekly amounts or all at once, I imagine it can also be paid back using different cryptocurrencies.

 

   Other exchanges like Nexo have been doing this and you can borrow up to 50% of your holdings on bitcoin. Coinbase is most likely going to expand this to other cryptocurrencies soon in the future.

As always thank you for reading my post and good luck to you all!!!

How do you rate this article?

11


KadilaK81
KadilaK81

Crypto Investor, day trader, blogger.


Chris Kinley
Chris Kinley

Hello! I am new to the cryptocurrency world, I began with my first investment into crypto assets in the beginning of September 2020. I am excited and enthusiastic toward the potential that Cryptocurrency has and the impact it will have on the way we use currency on a global level. Please join me on my journey into the Cryptocurrency world!!

Publish0x

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.