I've never been a fan of loans as I prefer to save up and take care of issues when they arise. I literally got into a big message when I took a loan from a commercial bank once.. But with the way things have been lately, i'm beginning to reconsider. So, I'm opting for a crypto loan as a potential option.
I understand the risks involved with this kind of borrowing. Crypto volatility, platform security, these are all factors I'm weighing carefully. That said, I'm hoping to lessen some of that risk if possible. Please I need pointers in the right direction.
Does anyone have experience with crypto loans? Are there platforms known for having better terms and lower interest rates?
I'm afraid nobody can help you with that because of how volatile the crypto market is.
When I read what you shared here, what I understand is that you borrowed money from a bank and used it to buy cryptocurrencies. Turns out, it's a complete opposite. You took a crypto loan so that you can use it to pay the loan that you have on your bank.
TBH, this is way riskier than what I understood at first because of how volatile the market is. As for platforms, I think centralized exchanges are giving out loans to their users, but you can't do it without any collateral of course so at the end of the day, you still need money or something that can be a collateral so that the risk of loan default decreases. Good Luck OP I guess.