Borrowing against cryptocurrency???

snoodle_01

Member
Joined
Oct 26, 2018
Messages
19
Has anyone had any experience with this yet? Or any recommendations? I've heard of Nexo but naturally I would like more than one option to consider here - essentially I want to take a loan (in ZAR or USD) and borrow against the value of my cryptocurrency (Link).
Any suggestions or advice would be welcomed :)
 

Drifter

Honorary Master
Joined
Dec 19, 2012
Messages
17,968
Ja, right. Good luck with that. Rather sell your crypto.
 

IOPS

Well-Known Member
Joined
Oct 2, 2016
Messages
450
A few places have tried this, I used to use BTCJam before they shut down. Made some money, lost some money. Since crypto isn't regulated it's really hard to find defaulters.

I've heard good things about https://nexo.io/ and done some reading of putting up collateral on stable coins like MakerDAO.

https://btcpop.co/home.php is another option but has a lengthy sign up process.

Borrow responsibly.
 

Zoomzoom

Executive Member
Joined
Aug 15, 2014
Messages
5,042
so here you run into one of the many problems when you use monopoly money instead of real currency. It isn't a real asset.
 

phly

Expert Member
Joined
Mar 13, 2013
Messages
1,267
A classic case of utilizing something while it's not until the masses accepts it later down the road and it becomes. Its not real yet but the hope is to ride the hype train till it materializes then one will already have a foot in the door.
 
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