⚡Coinbase Will Offer Bitcoin Backed Loans⚡
hi there Fellas. How have you all been? I hope in good health and spirit.
Recently the crypto market has seen a boom and everyday we are getting closer and closer to main stream adoption. With the launch of DeFi project and other solution backed projects, it is only a matter of time that adoption happens at a mass scale.
Bullish news always plays an important role for investments to come into the crypto world. One such news is the announcement that Coinbase made about its Bitcoin backed loans. Coinbase will allow U.S. retail customers to borrow fiat loans against as much as 30% of their bitcoin holdings starting in the fall.
The popular exchange will offer short term loans for a period of a year or less at 8% interest rate and the loan cap is going to be 20,0000 USD. Currently Coinbase will have this loan available in 17 major states across United states and is already working on getting licenses to provide this service in more and more states.
This news from coinbase is surely a positive sign and a step forward toward main stream adoption of crypto currencies as a payment option. I am looking forward to it. How about you guys? What do you think about it? Do let me know in the comments.
Until next time....
Well, i think, u should try it first then if it goes well, tell us so we will decide on joining or not, lol