Cryptocurrency

With Bitcoin, a credit request? Crypto-Exchange Coinbase offers new Service for users

Bitcoin has grown in the last few years of an interesting, but by the mass, belittled Asset to a real asset value approach. The shows not least of all the BTC News this week that the company, MicroStrategy has invested 250 million USD in your Corporate portfolio in Bitcoin.

Other News how to integrate the decision-making of hedge Fund legend Paul Tudor Jones, Bitcoin in its Investment strategy, to show which Standing has BTC now and what are the waves of the Asset. This development, away from a belittled Asset to a recognised asset, highlights the latest projects from Coinbase. The Crypto-Exchange to offer its users in the future, loans for which the own BTCs as a security can be stored.

Bitcoin Deposit – Coinbase credit get

In a Post on Twitter, Coinbase, announced to his followers on Thursday as one of the largest Crypto Exchanges in the world, that its users may soon be able to apply for loans in which Bitcoin as a security is accepted. During the Exchange accepts Crypto as a security, is paid the loan amount in Fiat money. So Coinbase says:

US-customers in selected States will soon be able to 30% of your Bitcoin holdings to borrow in cash. Eligible customers are invited to still on the waiting list for the early access to Coinbase login.

In the case of the sums, which can lend to users in the Bitcoin loans, is Coinbase but first, a little cautious. The new product sets a limit at 20,000 USD and the BTC loan at interest rate of 8% a year or less.

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Simplicity and competition from Square

The ultimate goal of Coinbase in the Bitcoin lending seems to be simplicity. Prospects for such a loan do not have to fill out long forms, or in the case of clerks audition. According to Coinbase, a credit with a couple of clicks to be able to be applied for. After authorisation the user will receive his money within 2-3 days on his Bank account.

Coinbase, however, is not the only company with the idea of a Bitcoin credit. The company’s Square to give his Cash App also work on users of short-term micro-loans.

The example of Coinbase and Square, shows that Bitcoin has grown in the last few years, more and more becoming a recognised asset approach, the two companies now accept even as a security for a loan. We can, therefore, be interesting to see what traditional banks offer such Bitcoin loans. Only recently became known that US banks are of BTC and co. for their customers to be able to manage.

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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