Borrowing fiat against BTC | Bitcointalksearch.org

audaciousbeing

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Quote from: howtobuy on June 17, 2017, 12:55:03 AM

Is there any exchange where I can borrow fiat (usd or eur) against BTC? I know that Bitfinex offers swap market, however, you can use the money only for trading. I am looking for fiat withdrawal.

Why would you want to stress yourself in making this happen. I understand what you trying to do here but you cant eat your cake and have it just convert your btc to fiat and use it for whatever you use it for since you have that in excess. Even if you visit the loan section of the forum, you get to borrow btc if you have enough collateral though.

howtobuy

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Quote from: Zadicar on June 17, 2017, 01:41:11 AM

Quote from: crazyjack on June 17, 2017, 01:22:18 AM

Quote from: howtobuy on June 17, 2017, 12:55:03 AM

Is there any exchange where I can borrow fiat (usd or eur) against BTC? I know that Bitfinex offers swap market, however, you can use the money only for trading. I am looking for fiat withdrawal.

The golden rule about borrowing is getting a credit in the same currency you are getting your salary or equivalent. Why, because of fluctuations in both ways may bring you down to your knees.

This is impossible as of now since there are no banks would really give this kind of service in on my place, bitcoin isnt still recognize yet which means you cant take a credit.

Im sure banks in my country would not even listen to me. Strange that no-one has made this service.

Zadicar

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Quote from: crazyjack on June 17, 2017, 01:22:18 AM

Quote from: howtobuy on June 17, 2017, 12:55:03 AM

Is there any exchange where I can borrow fiat (usd or eur) against BTC? I know that Bitfinex offers swap market, however, you can use the money only for trading. I am looking for fiat withdrawal.

The golden rule about borrowing is getting a credit in the same currency you are getting your salary or equivalent. Why, because of fluctuations in both ways may bring you down to your knees.

This is impossible as of now since there are no banks would really give this kind of service in on my place, bitcoin isnt still recognize yet which means you cant take a credit.

CraigWrightBTC

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Quote from: howtobuy on June 17, 2017, 12:55:03 AM

Is there any exchange where I can borrow fiat (usd or eur) against BTC? I know that Bitfinex offers swap market, however, you can use the money only for trading. I am looking for fiat withdrawal.

No, there are no service like that, all of exchangers gives margin trading not for withdrawal to fiat
the fetures is for trading on there, i think the best ways to fix your problem is Banks only.
You can visit the local Banks on your country and make loans fiat money,
don't waste your time to looking for the service that you want on exchangers of bitcoins.

favila

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Quote from: Yuuto on June 17, 2017, 01:34:39 AM

Why do you need to get a loan anyways? Just sell your bitcoin and buy it back, if it's a short period of time.

I'm guessing he wants to lock in btc at the current prices but needs money in real life.

Yuuto

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Quote from: howtobuy on June 17, 2017, 12:55:03 AM

Is there any exchange where I can borrow fiat (usd or eur) against BTC? I know that Bitfinex offers swap market, however, you can use the money only for trading. I am looking for fiat withdrawal.

Not that I'm aware of.

On this forum though there are lenders that are willing to fix your loan in USD value. So you could talk to them, provide them BTC as collateral, when they get the bitcoins as collateral they send you Paypal funds. It's a p2p process so interest rates will probably be higher, but obviously there isn't another option available(yet).

You could open a hedge account on cryptopay.me. Why do you need to get a loan anyways? Just sell your bitcoin and buy it back, if it's a short period of time.

howtobuy

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Quote from: crazyjack on June 17, 2017, 01:22:18 AM

Quote from: howtobuy on June 17, 2017, 12:55:03 AM

Is there any exchange where I can borrow fiat (usd or eur) against BTC? I know that Bitfinex offers swap market, however, you can use the money only for trading. I am looking for fiat withdrawal.

The golden rule about borrowing is getting a credit in the same currency you are getting your salary or equivalent. Why, because of fluctuations in both ways may bring you down to your knees.

Thats true in general. However, I have some BTC holding which I don't want to liquidate. And need cash for other, more "on ground" business. So is there any service for people like me?

crazyjack

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Quote from: howtobuy on June 17, 2017, 12:55:03 AM

Is there any exchange where I can borrow fiat (usd or eur) against BTC? I know that Bitfinex offers swap market, however, you can use the money only for trading. I am looking for fiat withdrawal.

The golden rule about borrowing is getting a credit in the same currency you are getting your salary or equivalent. Why, because of fluctuations in both ways may bring you down to your knees.

howtobuy

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No, banks are out. They don't want to hear about bitcoin. I live in Europe. Just wondering if there is such a service out there.

freeyourmind

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Quote from: howtobuy on June 17, 2017, 12:55:03 AM

Is there any exchange where I can borrow fiat (usd or eur) against BTC? I know that Bitfinex offers swap market, however, you can use the money only for trading. I am looking for fiat withdrawal.

You want to use your Bitcoin as collateral against borrowing fiat? Depending on where you live you can just get an unsecured loan, usually at a slightly higher rate. I doubt that banks will recognize Bitcoin as an asset, but I could be wrong.

howtobuy

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Is there any exchange where I can borrow fiat (usd or eur) against BTC? I know that Bitfinex offers swap market, however, you can use the money only for trading. I am looking for fiat withdrawal.

Topic: Borrowing fiat against BTC (Read 320 times)