๐ Buy a home without selling your Bitcoin: Canada is preparing a new mortgage
Canadian company APX Lending plans to start offering loans secured by BTC in early 2027, so people can cover their down payment on a home.
How will it work?
If a home costs $475,000, the down payment (20%) is $95,000. Instead of selling your Bitcoin and paying taxes on the proceeds, you pledge approximately $190,000 worth of BTC as collateral.
What you need to know about the risks and terms:
๐ If Bitcoin drops sharply: when its price falls by approximately 40%, the system will ask you to either add more crypto or put up cash.
๐ Collateral sale: if the price falls further, the service will automatically sell some of your BTC to cover the risk.
๐ธ Interest: the expected rate for the loan is around 10โ11% per year.
๐ Security: your coins are simply held in a secure BitGo โcoldโ wallet; the company does not use them in its own trading operations.
๐ Whatโs the main advantage? You can buy a home now while keeping your Bitcoin and waiting for it to rise further.
#Bitcoin #BTC #CryptoNews #RealEstate #CryptoMortgage #APXLending #Crypto #Investments
Canadian company APX Lending plans to start offering loans secured by BTC in early 2027, so people can cover their down payment on a home.
How will it work?
If a home costs $475,000, the down payment (20%) is $95,000. Instead of selling your Bitcoin and paying taxes on the proceeds, you pledge approximately $190,000 worth of BTC as collateral.
What you need to know about the risks and terms:
๐ If Bitcoin drops sharply: when its price falls by approximately 40%, the system will ask you to either add more crypto or put up cash.
๐ Collateral sale: if the price falls further, the service will automatically sell some of your BTC to cover the risk.
๐ธ Interest: the expected rate for the loan is around 10โ11% per year.
๐ Security: your coins are simply held in a secure BitGo โcoldโ wallet; the company does not use them in its own trading operations.
๐ Whatโs the main advantage? You can buy a home now while keeping your Bitcoin and waiting for it to rise further.
#Bitcoin #BTC #CryptoNews #RealEstate #CryptoMortgage #APXLending #Crypto #Investments
