Using cryptocurrency as security for a loan

kjason0191 said:

New to the forum.
I've asked on a couple forums but don't really get an answer
Where in Australia I can get a loan backed by my crypto?

Click to expand...

Dark1975 said:

Hey mate ?
Welcome to the forum
The question you are asking , Can I use my crypto as security for a business loan / investment loan ?
Cause that option won't be available for a while! As crypto is still relatively new to the market. Volatility is a problem for the banks?
I find it hard enough to find banks using my blue chip shares as security,
You can leverage the crypto like a CFD or trade it as a option or CFD.
Tho id suggest you get some finacial advice or research leveraging crypto before you do that as cypto is very volatile and you could lose everything on a volatile day.
Tho one solution is staking your cypto for a return on your investment! Like eth ( e.g 32 eth gets you 8% p.a staked )
Pls DYOR
Hope this info serves you well ?

Click to expand...

kjason0191 said:

Hey @Dark1975
Cheers for the welcoming!
Appreciate your reply, but yes that was the question I was meant to ask haha. Yeah I also found it a struggle but today was my lucky day and I did managed to find an Australian company that offered this service.

https://fifit.com.au/
maybe useful for you if you ever come across to doing the same as me.

Click to expand...