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Big News Bitcoiners! Coinbase Now Supports Bitcoin (BTC) Borrowing -Breaking

by Mike Robinson

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© Reuters Big News Bitcoiners! Coinbase Supports Bitcoin (BTC). Borrowing
  • Coinbase (NASDAQ) introduces new features to the ever-growing ecosystem.
  • Coinbase announced today that eligible customers can now borrow $1 million USD in Bitcoin with Coinbase
  • Only 8% APR will be charged to holders who reside in select US states. Credit checks are not required.

Coinbase is a cryptocurrency exchange that provides good news to Bitcoin (BTC) owners. The platform announced today on Twitter (NYSE:) that it will allow eligible U.S customers to borrow $1,000,000 in cash using Bitcoin as collateral.

Coinbase is the best place to sell and buy crypto currencies. Coinbase has made a significant leap in its position as one the most popular crypto exchanges, boasting over 68 million users, and more than 100 different countries.

This sparked a lively debate, with many praising the new feature. Coinbase set an example that other exchanges will likely follow.

Some are unhappy with the news. Particularly, many feel that borrowing against Bitcoin will prove to be a problem as so many will use it for altcoin. The news is good for altcoin investors, who will have more money to invest in other cryptocurrencies.

It is clear that the new borrowing option will enable Bitcoin owners from selected US states to borrow at a low interest rate of 8% with no credit checks. While their collateralized assets remain safe and sound on Coinbase, they will be able to repay over time.

Coinbase works hard to create a positive environment for customers. The Coinbase NFT Marketplace is another notable development. Coinbase also launched a Coinbase credit card. Users can earn interest on income immediately. They can also earn rewards for using the same card.

Continue reading on CoinQuora

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