Borrow BTC: How to get a Bitcoin Loan (and 3 ways to profit from it)...

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Are you an altcoin trader who doesn’t have Bitcoin (BTC) but finally wants to cash in on the hype? Surely there are many of you out there but you love you altcoins so much, you just can’t sell them. That’s where a Bitcoin loan comes in. You can borrow BTC using altcoins as collateral and reap the benefits of both worlds. Here are a few unique ideas to consider when you get your hands on some BTC.

Borrow BTC and then sell it for a profit...

The most basic activity one can do with BTC is selling it for a profit. Due to its tendency for volatility compared to other altcoins, it’s often easier to capitalize on a BTC bull run. Hence, if you have a large portfolio of something like ETH, or XRP, you can use that as collateral for a Bitcoin loan on a lending platform. From there, you simply borrow BTC and wait for the right market conditions to sell it for a profit. If timed correctly, you can offset all the costs of the loan and hopefully have some extra cash to keep as well. The best part is you didn’t have to sell your altcoins or use real fiat to buy BTC on an exchange.

Borrow BTC and then keep it in a high yield savings account...

There are not many out there, but some FinTech platforms are now offering Bitcoin Savings Accounts with yearly interest as high as 4.8%. While it’s not as dramatic as some Bitcoin bull runs we’ve seen in the past, BTC savings accounts are a safe, stable and guaranteed way to earn crypto. So once again, if you don’t have BTC but want to take advantage of this cool feature, borrow BTC from a lending platform, deposit that into a savings account and then watch your savings increase.

Borrow BTC and then “turbocharge” it to new heights...

Lastly, there is a more unique way to use your newly acquired Bitcoin and that’s by “turbocharging” it. This may be a new concept for many of you and that’s because Turbocharge is a special feature only available on the FinTech platform YouHodler. Turbocharging your BTC is similar to using it as leverage. This feature takes your BTC to use as collateral for a series of loans that multiples the original collateral.

By the end of the process, the user is left with a larger amount of Bitcoin that all started out with a small, initial investment. The same platform also lets you borrow BTC so the lending and “turbocharging” can all be done on the same platform within just a few minutes. So if you have altcoins and want to get on the Bitcoin train and make it work for you try out the aforementioned options today.

Author: Matt Miller
London News Desk

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