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We are hopefully a year or two out from competitive lending products. Right now the interest rates are kinda nuts, but still probably worth it.

WhiteRabbit 1y ago

Tough to swallow ~14% APR AND counterparty risk. Best case scenario bitcoin far outperforms the APR and your lender doesn't go broke. Worst case scenario? Lender blows up and you lose all your collateral.

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Discussion

Sourcenode 1y ago

Yes lots of trade offs for certain, but if looking back if I had taken out loans rather than sell I'd be better off today.

cloud fodder 1y ago

remember blockfi? imagine scrambling to pay off the loan and move your coins before bankrupt.. never forget.. many rekt.

Sourcenode 1y ago

No doubt. It's scary, but ledn did weather that storm.

Also if the company you owe the loan to is the one that defaults I think it's a different scenario.