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Bitcoin-Backed Loans Good for Altcoins Like Best Wallet Token

Xapo Bank is the latest in a string of financial institutions that have introduced Bitcoin-backed loans for its customers. This is yet another good indication that the world is warming towards accepting cryptocurrency as a genuine asset.

A Bitcoin-backed loan provides access to US dollars without having to sell your $BTC. This means that Xapo Bank customers can now borrow up to 40% of their $BTC collateral for a maximum loan amount of $1M.

That’s with zero fees. However, Xapo Bitcoin-backed loans are subject to eligibility and a variable interest rate that’s linked to US Federal Reserve rates. And loans aren’t available to customers who reside in the UK or Australia.

Bitcoin-Backed Loans Good for Altcoins Like Best Wallet Token

Xapo Bank is the latest in a string of financial institutions that have introduced Bitcoin-backed loans for its customers. This is yet another good indication that the world is warming towards accepting cryptocurrency as a genuine asset.

A Bitcoin-backed loan provides access to US dollars without having to sell your $BTC. This means that Xapo Bank customers can now borrow up to 40% of their $BTC collateral for a maximum loan amount of $1M.

That’s with zero fees. However, Xapo Bitcoin-backed loans are subject to eligibility and a variable interest rate that’s linked to US Federal Reserve rates. And loans aren’t available to customers who reside in the UK or Australia.

https://bitcoinist.com/bitcoin-backed-loans-good-for-altcoins-like-best-wallet-token/