The advent of cryptocurrency backed loans will have profound ramifications on the crypto markets.
The idea for cryptocurrency backed loans has existed for a while.
Once there is a major player these cryptocurrency collateralized loans would have a profound impact on cryptocurrency investors and users.
Crypto loans work by utilizing a deposit of Bitcoin, Ethereum, Ripple, or another major cryptocurrency as collateral.
A robust credit industry around crypto-collateralized loans would benefit adoption and reduce the complications associated with owning crypto.
Another benefit of cryptocurrency collateralized loans is margin trading.
Some players in this market are exploring crypto to crypto loans.
These loans would allow a user to borrow one cryptocurrency against another.
Cryptocurrency collateralized loans are a valuable service in the space.
These loans would lessen the tax burden, increase the ease of trading, and reduce the cost of conversion for cryptocurrency users.
How Bitcoin, Ethereum, and Ripple-Backed Loans Will Change Crypto
gepubliceerd op Nov 13, 2018
by Cryptoslate | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.