Latest: US CARD DEBT HIT $1.29T, BITCOIN LOANS CHARGE 5% NOT 22%
Interest is 22.36%.
Coinbase lends at 5.1% against Bitcoin. On $10,000 that saves about $1,500 a year on paper.
But you need $25,500 in Bitcoin to borrow $10,000. If BTC falls 53%, they sell it.
Would you borrow against your Bitcoin to pay off a card? $BTC #Bitcoin
Source: CryptoSlate
Interest is 22.36%.
Coinbase lends at 5.1% against Bitcoin. On $10,000 that saves about $1,500 a year on paper.
But you need $25,500 in Bitcoin to borrow $10,000. If BTC falls 53%, they sell it.
Would you borrow against your Bitcoin to pay off a card? $BTC #Bitcoin
Source: CryptoSlate
