With Coinbase, customers can borrow up to $ 1 million by using Bitcoin as security-
With Coinbase, customers can borrow up to $ 1 million by using Bitcoin as security-
The crypto exchange Coinbase noted on the Nasdaq now lines up cash with Bitcoin as security. The company calculates 8% effective annual interest, but there is no credit check. The stock exchange said that the Bitcoins used as security "remain safely kept by Coinbase" and emphasized: "They are not awarded or used for other purposes."
customers can lend up to $ 1 million $ 1 million
with Bitcoin as security from CoinbaseThe Coinbase cryptocurrency exchange announced on Tuesday:
We are pleased to inform you that justified customers can now lend up to $ 1 million from Coinbase.
On her website, the crypto exchange noted on the Nasdaq explained that justified customers can "lend cash with Bitcoin as security" and that borrower "only pay 8 % effective annual interest without credit check".
The company said that customers can rent up to 40% of the Bitcoin value on their account up to a million US dollars. "Every month you only have to pay the interest due (10 minutes)," said Coinbase and added that there are no advance payment or default fees.
"This credit line has a demand function and is to be repaid within 2 years of opening," continued Coinbase and explained:
The bitcoins you use as security are safely kept at Coinbase. It is not awarded or used for other purposes.
The credit line offered by Coinbase is currently available in residents of the following US states: AK, AR, AZ, CA, FL, ID, IL, NC, NE, NH, NJ, NY, OH, OR, TN, TX, UT, VA, WY.
Coinbase recently gave up his plan to start a credit program after the US stock exchange supervisory authority (sec) threatened with a lawsuit The company when it continued with the introduction. The stock exchange then published a for cryptocurrency regulation with four core recommendations.
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