I like to try new things and this week I tried to borrow crypto by put some of my ETH like the safety for the loan.
I know it has been able to do for a long time - BUT not with in Coinbase and this EASY way. Just love it !!
- Download Coinbase Wallet
- Connect wallet to your account
- Choose how much ETH you want to lock (I took 100 USD)
- Choose amount of DAI you want (You can take DAI for 100 USD if you lock ETH for 150 USD)
I like to play a little more safe and took DAI for 50 USD
- Swap it to ETH, BTC of anything you want
First you transfer from wallet to you Coinbase account. Then you can do the swap to any crypto. I did to ETH. Now I can invest it, buy Steemmonsters for it or just give it to a friend. OR (but this is scary) use it as safety for next loan....
For this I pay 20% in a year so about 1,8%/month.
So the good way is
Make a loan - invest in some crypto - Theese crypto goes up 10% - Sell them - Pay back the loan
Now you did get a profit without selling your ordinariy coins.
Higher risk - But I like it !