A crypto loan is a cryptocurrency-backed loan that uses your crypto assets as collateral. Crypto loans can only be obtained from crypto exchanges or crypto lending platforms. By doing so, you get to borrow USD (or your national fiat currency) to pay for immediate expenses instead of selling your cryptocurrencies at a potentially low price. Today's video is a guide on all things crypto loans!
Links Mentioned
Collateral Ratio Graph- https://loanscan.io/
Timestamps
00:00 Intro
00:31 4 reasons to take up crypto loans
01:41 The beauty of crypto loans
02:25 Is borrowing crypto a risk worth taking?
02:35 CeFi loans
03:07 DeFi loans
03:53 Lending pools
04:36 The risks involved
06:10 Closing thoughts
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