Just took my first loan, using BTC as collateral, to pay my credit cards. I used nostr:nprofile1qqszc9tlhpge567wpu47ch3sq777j00lpj3cdy65dqrwzt4wg583cdqpzamhxue69uhhyetvv9ujumn0wd68ytnzv9hxgtcf4h3y6 and it was a smooth experience, their costumer support is also fantastic. This is going to allow me to stack sats like a psychopath by being able to roll over my loans using btc.
#shortingfiat
What rate did you get?
2.1% for a 1 month loan, which is expected given that they loan out MXNT (a Tether stablecoin tied to the Mexican peso). You can get better rates elsewhere if you get a USDT/USDC denominated loan but I prefer to avoid the hassle of having to convert everything to pesos to pay my cards, then maybe convert back to USDT to pay the loan.
Nice!
Do they keep custody of the collateral or is it some kind of multisig setup with another party Involved?
