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Using BTC as collateral for loan
Has anyone on here used their BTC as collateral for a loan? Send my BTC to someone else to hold doesn't seem to sit right with me.. but having access to cash without having to pay tax makes sense. Especially giving tax to a government that is opposed to BTC yet will still tax you on your gains when it comes time to sell... Make that make sense! Anyways if anyone has done it, and had a good experience, let me know. It looks like theirs potential to do what the ultra rich do and continuously take out a new loan to clear off your older loan as BTC continues to go up. submitted by /u/PurpleRemote1270 [link] [comments]
Has anyone on here used their BTC as collateral for a loan? Send my BTC to someone else to hold doesn't seem to sit right with me.. but having access to cash without having to pay tax makes sense. Especially giving tax to a government that is opposed to BTC yet will still tax you on your gains when it comes time to sell... Make that make sense!
Anyways if anyone has done it, and had a good experience, let me know.
It looks like theirs potential to do what the ultra rich do and continuously take out a new loan to clear off your older loan as BTC continues to go up.
[link] [comments]
