👍🏼Thanks for the video. Looking forward to the near future where more companies will be able to give fiat loans against bitcoin collateral. I know there are a few companies currently but most of them take possession of your keys and also the interest rates are still quite high. Looking forward to the days where interest rates will be 2 to 4% on the loan and you can keep custody of your keys.
Hmmm it could depend on the state you're in. If it's not available and the goal is to stack more sats, you could always get a dollar loan to your bank and stack sats with it. Just be cautious of your downside.
Ohhhh seriously? Damn the US is pretty ridiculous. "Have no money? Feel free to rack up credit card debt! Have some hard assets and want to get a loan for half their value? Tough luck, go buy a lottery ticket or hit the casino!" - Uncle Sam
I think the people running it are great, and have a lot of integrity. I personally now avoid instances where my Bitcoin can be rehypothecated, as I don't necessarily trust the 3rd parties where those coins could be lent. 2022 highlighted a lot of the risk present in the lending/yield space, even when you're just focused on Bitcoin.
Hmm. I just thought of something. Instead of DCA which is great I could take small b2x loans and dca into that. I think that’ll end up in more BTC as long as price goes up. Hmm.
If the interest rate is not palatable to someone compared to the risks, then they should indeed refrain. Not your keys, not your coins, after all. That said, I think some people are looking at the compounding over multiple years. With 1BTC at the current rate of 6.1% & a 5 year time horizon, it adds 34 million sats to your stack. 10 years out that number would be 81 million sats. Again, not worth it for some, but those that consider it are typically looking at those numbers. Keep in mind that anything sitting there over 2 BTC is subject to a lower interest rate.
@@logann001 yeah as price runs up it would be wise to remove funds from the platform so as to suit your risk tolerance. Sitting a million dollars with anyone would be a bit nerve wracking.
I’ve used a bunch of borrowing platforms and Ledn is by far the worst. And, as an accountant, I can tell you that proof of reserve attentions, are industry standard now - almost all done by armanieno (which is a problem in and of itself). The only redeeming factor for Ledn is that it is fintrak approved which is only a benefit for Canadians to prevent AML. As from that, I wouldn’t waste your time with this Amish, stuck in the last decade, platform
I started using Ledn a few months ago. So far so good.
Hello! Still like it ? You take loan towards them? Trying to find a way to not sell.
👍🏼Thanks for the video. Looking forward to the near future where more companies will be able to give fiat loans against bitcoin collateral. I know there are a few companies currently but most of them take possession of your keys and also the interest rates are still quite high. Looking forward to the days where interest rates will be 2 to 4% on the loan and you can keep custody of your keys.
I nay not be a BTC maxi like you, but this was a great video :) Thanks for putting this together
Glad to have you here Doug, thanks for the kind words.
Be really careful with B2X it can turn on you in a hurry.
100% - I go through a nightmare hypothetical situtation where (if it had been available) you took out a B2X at the 2017 top.
Loved the video. Does the B2X work here in the US or is it Canada only?
Thanks Bryan. Yup it works in both the US and Canada.
Are you still using Ledn?
Do you have to report these returns when you do your taxes? (In Canada)
Do they convert USDC into the USD too?
I used LEDN to leverage some BTC for a bitcoin backed loan for my wife’s engagement ring. The process was smooth AF
Just signed up but its not letting me do a B2X loan. Says its not available in my region. I am in the US.
Hmmm it could depend on the state you're in. If it's not available and the goal is to stack more sats, you could always get a dollar loan to your bank and stack sats with it. Just be cautious of your downside.
@@BTCSessions I spoke with support. You need be a high net worth individual in order to use the loan products in the US at this time.
Ohhhh seriously? Damn the US is pretty ridiculous.
"Have no money? Feel free to rack up credit card debt! Have some hard assets and want to get a loan for half their value? Tough luck, go buy a lottery ticket or hit the casino!" - Uncle Sam
thanks for the tutorial, Ben! Seems like the B2X feature would be attractive at the bottom of a dip or bottom of a bear market. NFA.
thanks for this. considering moving from crumbling blockfi to ledn.
Probably a good call.
Do you have a video on how to repay a ledn loan via wire transfer. Any info will help
hi i understand that we can get interest on the btc however will our number of btc also appreciate in value or depreciate affecting the interest rate?
This is awesome.
Thank you, man.
Is ledn available in the UK?
Thanks
Video is 2 years old......waiting on my kyc to clear at ledn.......what are your thoughts today on ledn
I think the people running it are great, and have a lot of integrity. I personally now avoid instances where my Bitcoin can be rehypothecated, as I don't necessarily trust the 3rd parties where those coins could be lent. 2022 highlighted a lot of the risk present in the lending/yield space, even when you're just focused on Bitcoin.
LEDN is great. Best rates. Celsius is technically better atm, but don’t trust them.
Good call😂
Hmm. I just thought of something. Instead of DCA which is great I could take small b2x loans and dca into that. I think that’ll end up in more BTC as long as price goes up. Hmm.
I don’t think it works out with small purchases. Has to be about .1 or so.
Obligatory always avoid leverage message incoming.
(I am >100% in btc though, as it should be.)
First
don't use apple IOS
Is this service available for Europeans (Germany) ?
@BTC Sèsśîòńs▪︎▪︎ oh my fucking god
Not available in USA :(
Celsius for you.
Why risk it for 6% when on average bitcoin returns 200% a year 🤯
since you're getting 6% extra bitcoin per year, you should expect 212% returns per year based on your calculations.
@@John-lz3hf if you ever get it back!
Risky if you remember these types of platforms in the past.
If the interest rate is not palatable to someone compared to the risks, then they should indeed refrain. Not your keys, not your coins, after all.
That said, I think some people are looking at the compounding over multiple years. With 1BTC at the current rate of 6.1% & a 5 year time horizon, it adds 34 million sats to your stack. 10 years out that number would be 81 million sats.
Again, not worth it for some, but those that consider it are typically looking at those numbers. Keep in mind that anything sitting there over 2 BTC is subject to a lower interest rate.
@@BTCSessions If bitcoin hits 1 million within that time let's hope they can afford to pay you your $300,000 /.3 bitcoin
@@logann001 yeah as price runs up it would be wise to remove funds from the platform so as to suit your risk tolerance. Sitting a million dollars with anyone would be a bit nerve wracking.
I’ve used a bunch of borrowing platforms and Ledn is by far the worst. And, as an accountant, I can tell you that proof of reserve attentions, are industry standard now - almost all done by armanieno (which is a problem in and of itself). The only redeeming factor for Ledn is that it is fintrak approved which is only a benefit for Canadians to prevent AML. As from that, I wouldn’t waste your time with this Amish, stuck in the last decade, platform
I can’t wait til degens start using b2x loans and we go straight into hyperbitcoinization