Coinbase to Soon Release Borrowing Feature

By Abhimanyu Krishnan | News | 14 Aug 2020


San Francisco based exchange Coinbase on August 13 announced that it would soon allow users to borrow up to 30% in cash against their Bitcoin (BTC) holdings.

  • Users from select states can join a waitlist for the feature; available in 17 states 
  • The feature appears to have been made to help those who need cash for large expenses
  • Users can obtain cash without having to sell crypto holdings prematurely
  • The focus has been on convenience and usability; the entire process can be completed in a few steps
  • Coinbase released DAI rewards, where users can earn 2% APY for holding DAI, in late July 2020

Related Reading:

  • Coinbase adds COMP
  • Coinbase’s Twitter account hacked

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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