I am waiting for strike "credit line" product to be opened in my country.
So far I did not find an option that would allow to easily have loan where I never pay the principal.
Also interest is quite big .. My Bank can give me 9% loan with no collateral..
Strike lets you refinance the minimum principle if you pay the interest off up to that point. At least they say they will. The risk is if that isn't true for some reason and you're forced to sell, which is why I wouldn't do this for a large percentage of sats.
As for zero collateral, every auto loan I know of in the US uses at least the vehicle as collateral. They hold the title. And you have to have fiat income to satisfy them and pay monthly on loan and interest. Strike allows payment at maturity or refinancing (again, they say, with risks of that not being true at some point).
I don't know of any bank in the US that just hands out 30-50k on a promise. Maybe a business loan, but not for consumer purchases that I know of outside of credit cards with much higher than 13% interest these days.
And the income requirement to get a car worth of credit card, if a dealership will even take it as payment (with all the risks of chargeback and whatever), is pretty high.
Search #LavaXYZ bitcoin-backed Line of Credit... available anywhere 😉
Uu looks good, however I need euro .. maybe I can use revolut to swap ..
I had seen EUR option in old version of nostr:nprofile1qqs2wn8h6dw8snma59c93yzuan0tjhwk67vf7w9erj43cxwpx7umsts8rj46g, but unable to find it again in latest version... or I might be wrong... might be confused with too many #BitcoinBackedLoan startups during my research 🤣For EUR, you may check nostr:nprofile1qqsp7vxc8zn6xp768ygrrdl6m6qfplmjprha27r6rauyq849v2f9a6s2r5hm2 too
