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Replying to Avatar corndalorian

The loan terms from Strike are for 12 months, not forever. 😂 And as with any bitcoin loan they require you to maintain a certain LTV ratio (loan to value), which is affected by the market price of bitcoin. If bitcoin’s price within that 12 month period dips hard (as it often does in the short term), then you could face liquidation if you’re not able to post more collateral or immediately pay the loan down enough. Plus the custodial risk and the interest costs. Not worth it unless it’s an absolute last resort, and even then you risk less of your Bitcoin by just selling/spending some of it. These loan products need to improve significantly before they make much sense.

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idsera 7mo ago

On nostr:npub15ax0056u0p8hmgtstzg9emx7h9wad4ucnuutj89trsvuzdaehqhqdpc7af has no custodial risk.

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