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
Publicado en Nov 13, 2018
by Cryptoslate | Publicado en Coinage
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