where can I learn about "don't sell your Bitcoin, borrow against it"?
#asknostr
Discussion
Borrowing cash against your Bitcoin is a very risky endeavour.
Many companies started this service, they went bankrupt or rugged people.
IMO, don’t
I don’t think we are there yet. We will be someday.
well this would be the most popular place
Thank you!
Loan rates are too high imo right now. They will come down over time IMO.
Unchained is very reputable if you still want to do it , and I would recommend a very low loan to value of no more than say 10%. That way Bitcoin would need to crash 90% for you to be in a bind. Very unlikely.
Just my 2 sats and not legal advice. 😉
Thank you. I was just curious. It doesn't seem like it's for me. I need a car and trying to figure out the best route and that for some reason popped up my awareness.
Not worth it yet but here.
Thank you, for the resource and insight. 🙏🏻😊
You can use Sovryn. You keep self-custody of your BTC and there's no KYC. On RSK (Rootstock). You'd need to invest a little time to understand how it works and if it suits you.