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Bank Loans vs Bitcoin Loans, Which is Better?

Suba

Suba

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Currently, we can not only take out cash or fiat money loans at banks or other lending platforms, but we can also take advantage of the DeFi Lending platform with interest of only 4% per year. This DeFi platform is widely used by investors to Short Bitcoin or take Bitcoin loans to finance their blockchain projects etc. The requirements for taking out a Bitcoin loan are also very easy, you don't need a credit score and other requirements, the most important thing is that you have crypto as collateral. Meanwhile, bank loans or other fiat money loans require credit score requirements, etc.
 
Everyone could have their own opinion but in my opinion all types of loan should be avoided because it increases our stress level. We spend money so fastly then remain it's hard payment. If I would have to chose one then my choice will be bank loan because I know nothing about Bitcoin loan.
 
SHAHID987 said:
Everyone could have their own opinion but in my opinion all types of loan should be avoided because it increases our stress level. We spend money so fastly then remain it's hard payment. If I would have to chose one then my choice will be bank loan because I know nothing about Bitcoin loan.
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True, even though we should avoid all debt, this thread is just a discussion, and whichever person's opinion is the most, maybe there will be many who like bank loans in the long term, but of course there are also those who borrow Bitcoin to make a profit.
 
Suba said:
Currently, we can not only take out cash or fiat money loans at banks or other lending platforms, but we can also take advantage of the DeFi Lending platform with interest of only 4% per year. This DeFi platform is widely used by investors to Short Bitcoin or take Bitcoin loans to finance their blockchain projects etc. The requirements for taking out a Bitcoin loan are also very easy, you don't need a credit score and other requirements, the most important thing is that you have crypto as collateral. Meanwhile, bank loans or other fiat money loans require credit score requirements, etc.
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As with everything, it depends on the circumstances.
 
We often apply Bitcoin borrowing to make a profit by shorting Bitcoin where we borrow Bitcoin at a high price and pay at a low price plus interest on the price difference when borrowing which will become a profit. This method has been used for a long time in the world of shares.
 
Suba said:
In fact, Bitcoin loans can not only be used to finance online projects but also offline projects, unfortunately Bitcoin loans will be better in the short term due to the volatility factor.
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I want to ask you please. When it comes to crypto loans, is it only bitcoin loan that is available. How does one qualify to get a bitcoin loan?
 
King Belieal said:
I want to ask you please. When it comes to crypto loans, is it only bitcoin loan that is available. How does one qualify to get a bitcoin loan?
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Of course not only Bitcoin, but you can also borrow crypto, but not all altcoins can be borrowed, only certain crypto, even at Nexo we can borrow Stablecoins and fiat money. There are no special requirements but you only need to pledge your crypto that is being stored or staked.
 
Suba said:
Of course not only Bitcoin, but you can also borrow crypto, but not all altcoins can be borrowed, only certain crypto, even at Nexo we can borrow Stablecoins and fiat money. There are no special requirements but you only need to pledge your crypto that is being stored or staked.
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So if you have like $10 crypto, how much crypto loan can a platform like Nexo give you? How long is the repayment period?
 
King Belieal said:
So if you have like $10 crypto, how much crypto loan can a platform like Nexo give you? How long is the repayment period?
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Nexo also provides various types of loans, both short term such as a week, a month or three months, we can borrow fiat money such as USD, EUR and GBP or stablecoins USDC or USDT.
Before you borrow you need to make a deposit with Collateral, usually a 70% loan from Collateral.
 
Suba said:
Nexo also provides various types of loans, both short term such as a week, a month or three months, we can borrow fiat money such as USD, EUR and GBP or stablecoins USDC or USDT.
Before you borrow you need to make a deposit with Collateral, usually a 70% loan from Collateral.
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Thanks for this educational post you have made all through this thread. I would surely get to check Nexo out. Never heard about it before now but you just enlightened me.
 
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