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thoughtcrimeboss
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Strike now has native Bitcoin backed loans available..kinda. The minimum loan amount is 75,000 USD at an APR starting at 12%. Maximum LTV is 50% so you need a bare minimum of 150,000 USD worth of BTC to get one. They aren't available in every state either. And you wonder why people are wrapping their bitcoin to access some liquidity. With Strike you have to KYC and send off your Bitcoin to a company. Is that any better than wrapping it and depositing into a smart contract on Ethereum to borrow USDT at 5% with no KYC? I guess with the no KYC loan you have to trust Bitgo, the smart contract itself, and Ethereum whereas with Strike you just have to trust Strike but you have to KYC and be richer than me. Interesting trade offs.
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