Topic: [Finance] borrow DAI or other currencies against BTC - 60 sec tutorial (Read 133 times)
Well i ussually don't trust this sites who ask bitcoin and a lot of higher % to get a loan. If i need i preffer to take loan from here from trusted users who always will give back collateral if there is any collateral give to take a loan.
May 04, 2019, 06:27:46 AM
Hey guys, wanted to show how easy it is to borrow DAI and other stable coins (at the moment USDC, TUSD, PAX are supported) using ETHLend (a P2P lending marketplace) - best thing is that the process is (mostly) decentralized and non custodial (you don't need to trust anybody to hold your assets for you).
Here is a youtube video explaining the process - takes less than 60 seconds and BTC backed loans usually get funded pretty quickly
https://www.youtube.com/watch?v=FCYS1rNqr7o&feature=youtu.be
disclaimer: i'm one of the devs of this ETH/BTC crosschain solution and if interested i can explain more in depth how this works (or i can go more in detail in the tutorial)
EDIT: Ok i posted a gif thinking it would look decent but it actually doesn't - so i'm editing the post adding a screenshot series
Wow, I am still really yet to know how this borrowing concept works, because I once tried to create something like that but I had a lot of doubt in me, and one of those doubt was how will you be able to monitor those who collected the loan since you give them in crypto and not fiat, is there a kind of identity verification before the loan is being given or is there something else this platform does to be able to monitor this people who collected loan from them. Here is a youtube video explaining the process - takes less than 60 seconds and BTC backed loans usually get funded pretty quickly
https://www.youtube.com/watch?v=FCYS1rNqr7o&feature=youtu.be
disclaimer: i'm one of the devs of this ETH/BTC crosschain solution and if interested i can explain more in depth how this works (or i can go more in detail in the tutorial)
EDIT: Ok i posted a gif thinking it would look decent but it actually doesn't - so i'm editing the post adding a screenshot series
May 03, 2019, 07:11:09 AM
Hey guys, wanted to show how easy it is to borrow DAI and other stable coins (at the moment USDC, TUSD, PAX are supported) using ETHLend (a P2P lending marketplace) - best thing is that the process is (mostly) decentralized and non custodial (you don't need to trust anybody to hold your assets for you).
Here is a youtube video explaining the process - takes less than 60 seconds and BTC backed loans usually get funded pretty quickly
https://www.youtube.com/watch?v=FCYS1rNqr7o&feature=youtu.be
disclaimer: i'm one of the devs of this ETH/BTC crosschain solution and if interested i can explain more in depth how this works (or i can go more in detail in the tutorial)
EDIT: Ok i posted a gif thinking it would look decent but it actually doesn't - so i'm editing the post adding a screenshot series
Here is a youtube video explaining the process - takes less than 60 seconds and BTC backed loans usually get funded pretty quickly
https://www.youtube.com/watch?v=FCYS1rNqr7o&feature=youtu.be
disclaimer: i'm one of the devs of this ETH/BTC crosschain solution and if interested i can explain more in depth how this works (or i can go more in detail in the tutorial)
EDIT: Ok i posted a gif thinking it would look decent but it actually doesn't - so i'm editing the post adding a screenshot series
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