no, that’s wrong
Discussion
Can you please explain what does happen.
As I think it’s important for people to be aware they are actually giving up custody. I don’t think that is very clear to the uninitiated.
the bitcoin sits in an address with us + the partner.
is it not clear you are giving up custody to get a loan? there is no such thing, otherwise. that’s what a collateralized loan is, right?
Based on experience of speaking to people who are new. Yes. It’s not always clear to a lot of people. Might seem to silly to you and me. But we have experience on the magic internet money. For many new less tech savvy. It really does seem like magic. And we find ourselves explaining a lot of things we might take for granted as logical. And they really are not clear on the risk model. No silly questions or assumptions that everyone understands it. We meet people where they are. And patiently walk them through it.
ah, I understand. yes, one should always do their own research.
all of this is documented in our FAQs and we have on-call/24-7 support for those that have questions 👍