So if you're looking to get a crypto loan at some point in the future you should choose correctly and make a smart financial move . However if it is done incorrectly, you could end up costing your entire collateral that you have put up.

What is exactly a Crypto loan ? Crypto loan is a type of secured loan similar to an auto loan in which you pledge an asset to secure financing. In this case, cryptocurrency is the asset offered to the lender in exchange for that you'll pay back in installments. If you fail to repay the loan the lender will liquidate or cash out the cryptocurrency.

Why borrow cryptocurrency? Crypto loan makes so much sense if you hold substantial amount of crypto and don't want to sell or liquidate it. Those funds can be used to purchase or maybe to invest in something else or even payback a personal loan. Additionally, Crypto loans have lower interest rates unlike any other relevent loans and there is also no credit checks which is a big deal as well.

So where do you borrow ? Currently in my opinion the best place to borrow cryptocurrency is BlockFi  https://blockfi.com/  .The nice thing about BlockFi is that it is easy to set up an account and you can literally get funding the same day you requested a loan which is great. The intrest rates 4.5 , which is super reasonable. One thing you have to understand you have to have a minimum of $10 000 of the coin you wanna borrow against. You can literally borrow up to 50% of your asset. You also have to understand that in cryptocurrency it's a lot more volatile than in the stock market so you have to be responsible. And please try not to borrow too much , atleast keep it under 30% .

Is it a great idea to borrow cryptocurrency ? Absolutely if you're not planning to sell your crypto.