Replying to Avatar utxo the webmaster 🧑‍💻

Many companies are offering Bitcoin loans so you "don't have to sell"

The catch is you have to give them your coins as collateral.

I'd rather just buy something with the Bitcoin straight up than give more of it to a leveraged financial institution, and be forced to give them even more if the price dumps.

I also remember blockfi and Celsius
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Petar 8mo ago 💬 2

Buying stuff with BTC directly is best but loans are worth the risk when the alternative is selling in my opinion because every time BTC doubles you can pay off the loan for free and you were just given free money, it doesn't require any payments and you have a chance to get your BTC back later, if you sell it's gone, fiat loans do require payment because fiat goes down

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utxo the webmaster 🧑‍💻 8mo ago

Works until you get rugged

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Petar 8mo ago

At least you only get rugged by half the value because that's what they gave you, everything in Bitcoin is a trade off anyway, if you can get through one loan paying itself off without getting rugged then the next one is risk free