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Crypto Loan Vs. Bank Loan

  • Thread starter Thread starter Nomad
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Nomad

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Have you ever taken crypto loan and bank loan, how do you compare these loans? Well, I recently took crypto loan for the first time and I found that I will be paying less interest on my crypto loan compared to the bank loan. I am paying around 6 percent on my crypto loan where as my bank loan has an interest rate of 9 percent.
 
I have never taken any type of loan, but if I had to ask for one one day I would prefer it to be with the bank since I see it as much safer than a crypto loan.
 
ezcashbiz said:
Crypto loan 😬? Nope don't think so, bank loan for the win.
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Why not? Do you risk of losing your crypto asset? If you don't pay bank loan, your collateral will also get confiscated. Crypto loan interest is lower than interest charged by banks in my country.
 
Nomad said:
Why not? Do you risk of losing your crypto asset? If you don't pay bank loan, your collateral will also get confiscated. Crypto loan interest is lower than interest charged by banks in my country.
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Crypto has come a long way but for me I just don't
think I'd be ready for something like this.
 
ezcashbiz said:
Crypto has come a long way but for me I just don't
think I'd be ready for something like this.
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Getting a loan is not good for your finances but sometimes it becomes necessary and I was just trying to find out whether people would be interested in crypto loans. :D
based on the interest rate charged by our banks, I find crypto loan better.
 
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