Anyone else do this? Obviously risky.
I just started small a couple months ago and so far everything works. I use My Constant since some friends have used it for a year but there are a couple of them out there
From their website “All lending is backed by borrower collateral or buy-back guarantee”. Basically the borrower has to front 150% of what they borrow with crypto. Apparently this allows them to not sell crypto but to get cash, potentially to buy more crypto. Loophole to not pay tax I guess. My Constant will force liquidation via smart contracts if the value of crypto falls below the loan amount so seems like your money is protected
4% on cash
6-7% on loans for 30-90 days
9% if you park crypto there
Thoughts? I know it’s risky but other options for a passive 6%+?
#personalfinance #investments
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