{"id":13910,"date":"2021-11-03T15:54:07","date_gmt":"2021-11-03T15:54:07","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/coinbase-lets-customers-borrow-up-to-1-million-using-bitcoin-as-collateral\/"},"modified":"2021-11-03T15:54:07","modified_gmt":"2021-11-03T15:54:07","slug":"coinbase-lets-customers-borrow-up-to-1-million-using-bitcoin-as-collateral","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/coinbase-lets-customers-borrow-up-to-1-million-using-bitcoin-as-collateral\/","title":{"rendered":"Coinbase Lets Customers Borrow up to $1 Million Using Bitcoin as Collateral"},"content":{"rendered":"

The Nasdaq-listed crypto exchange Coinbase is now letting customers borrow up to $1 million using bitcoin as collateral. The company charges 8% APR but there is no credit check. The exchange said that the bitcoin used as collateral \u201cremains safely held by Coinbase,\u201d emphasizing, \u201cIt\u2019s not lent out or used for any other purpose.\u201d<\/strong><\/p>\n

Customers Can Borrow up to $1M With Bitcoin as Collateral From Coinbase<\/h2>\n

Cryptocurrency exchange Coinbase announced Tuesday:<\/p>\n

We\u2019re excited to announce that eligible customers can now borrow up to $1 million USD from Coinbase.<\/p>\n

On its website, the Nasdaq-listed crypto exchange explained that eligible customers can \u201cBorrow cash using bitcoin as collateral,\u201d noting that borrowers will \u201cPay just 8% APR with no credit check.\u201d<\/p>\n

The company explained that customers can borrow as much as 40% of the value of the bitcoin in their account, up to $1 million. \u201cEach month you only need to pay the interest due ($10 min),\u201d Coinbase said, adding that there is no prepayment or late fees.<\/p>\n

\u201cThis line of credit has a demand feature and is repayable within 2 years of opening,\u201d Coinbase continued, elaborating:<\/p>\n

The bitcoin you use as collateral remains safely held by Coinbase. It\u2019s not lent out or used for any other purpose.<\/p>\n

The line of credit offered by Coinbase is currently available to residents of the following U.S. states: AK, AR, AZ, CA, FL, ID, IL, NC, NE, NH, NJ, NY, OH, OR, TN, TX, UT, VA, WA, and WY.<\/p>\n

Coinbase recently abandoned its plan to launch a lending program after the U.S. Securities and Exchange Commission (SEC) threatened to sue<\/a> the company if it proceeded with the launch. The exchange then published a proposal<\/a> for cryptocurrency regulation with four core recommendations.<\/p>\n

What do you think about Coinbase letting customers borrow up to $1 million with bitcoin as collateral? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nExchanges, bitcoin collateral, borrow from coinbase, Coinbase, coinbase borrow, coinbase exchange, coinbase loans, crypto collateral, loans<\/p>\n","protected":false},"excerpt":{"rendered":"

The Nasdaq-listed crypto exchange Coinbase is now letting customers borrow up to $1 million using bitcoin as collateral. The company charges 8% APR but there is no credit check. The exchange said that the bitcoin used as collateral \u201cremains safely held by Coinbase,\u201d emphasizing, \u201cIt\u2019s not lent out or used for any other purpose.\u201d Customers…<\/p>\n","protected":false},"author":0,"featured_media":13911,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13910"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13910"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13911"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}