Who do you all recommend for getting a loan on your #Bitcoin?
My kids have some expensive dental work that needs to be done and I would really hate to have to sell in order to pay for it, but all my dry power is in Bitcoin right now.
#plebchain #asknostr
I've never done a loan, but i believe River does that.
I've never done one but I know people who's used Unchained's product.
Have only looked in to Ledn, going to follow this thread 👀
I just learned about Hodlhodl.com but haven't used the borrow option yet, not sure if that works for you.
You do you bro, but I wouldn't take out a loan against a liquid asset like Bitcoin.
You're paying interest, plus you're on the hook for the downside (as well as the upside).
There are no sure bets except death and taxes.
How long can it wait? My opinion would be save up some dry powder. Bitcoin loans are expensive and you will be burning fiat (which you could be stacking or saving for situations like that) in high interest
Doesn't the nostr:npub1rxysxnjkhrmqd3ey73dp9n5y5yvyzcs64acc9g0k2epcpwwyya4spvhnp8 guy, Mr. Sessions, always push some company at the start of a show? Ledn I think. Maybe he did a video.
They were an old sponsor, yes. I'm a tad more cautious with things after all the blow ups. All the Ledn guys are great, I just worry about the other counterparties in the industry.
If you need loans then it's best to do it in a way that doesn't have rehypothecation (which Ledn originally offered when I started with them). Now the options are Unchained or peer to peer via HodlHodl.
You should check Hodlhodl.com lend option... i took a loan at the beggining of this year cuz i was trying to get my Cruiseship certs renewed! Rate i found was not high and it went smooth!!
So I tried this about a 18 months ago using unchained to fund a family vacation and personally I didn't like the experience. I was always worried about having to post additional collateral and then at the end of the loan I needed to either pay back the full amount of fiat or roll the loan to avoid selling my bitcoin.
My advice would be to get a loan in the fiat system. I'd recommend that you borrow against your home or your retirement account before you borrow against your bitcoin. Could also borrow from family or friends.
All that said, borrowing against bitcoin in a bull will be much different from a bear.
Just my 2 sats.
Good luck!
Look into ledn, but that being said I still have one with Celsius 😬
