B3PO on Nostr: TLDR Coinbase Bitcoin backed loan 1. borrow up to $100k instantly. 2. loan is in ...
TLDR Coinbase Bitcoin backed loan
1. borrow up to $100k instantly.
2. loan is in USDC.
3. repay at any time, no fixed monthly payment.
4. rates change every few seconds (their words, not mine) based on a platform called MORPHO. no fees. variable interest rate. not available in NY.
5. as of this post, they reportedly are already loaning out $2,204,505,869 from $5,872,221,665 in deposits. a 38% Loan-to-Value (if true/accurate).
6. if you initiate a loan, your Bitcoin is converted to Wrapped BTC (cbBTC) on Coinbase and then shipped over to Morpho as collateral.
7. rates? best I could tell, rates are currently anywhere from 9 to 20% depending on your LTV.
* couldn't get to a final amount unless I was going to do this. And I'd have to be a Coinbase customer to find out.
#bitcoin #nostr
1. borrow up to $100k instantly.
2. loan is in USDC.
3. repay at any time, no fixed monthly payment.
4. rates change every few seconds (their words, not mine) based on a platform called MORPHO. no fees. variable interest rate. not available in NY.
5. as of this post, they reportedly are already loaning out $2,204,505,869 from $5,872,221,665 in deposits. a 38% Loan-to-Value (if true/accurate).
6. if you initiate a loan, your Bitcoin is converted to Wrapped BTC (cbBTC) on Coinbase and then shipped over to Morpho as collateral.
7. rates? best I could tell, rates are currently anywhere from 9 to 20% depending on your LTV.
* couldn't get to a final amount unless I was going to do this. And I'd have to be a Coinbase customer to find out.
#bitcoin #nostr