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
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