10% is too high, btc is the real money, why should I pay you to loan you my btc in exchange for some worthless fiat that is constantly losing value? I get that some people need cash in a hurry and don’t want to sell their btc but double the collateral of the fiat? Not for me
Discussion
then take out a credit-backed loan?
That is the interest rate that people are willing to lend at. It isn’t some random number. That is the market rate for taking a loan. Strike doesn’t decide it, people lending their fiat decide it, and the people who want to borrow have to decide if they are willing to pay that. Why is this so hard for people to understand?