Blackcell
· 1w
I'm interested in how this worked in your experience. I'm still trying to understand how these lines of credit would emerge and be priced with payback interest.
I learn everything by just going for it and then learning on the fly, so I am far from an expert. I just borrowed the minimum ($500) and gave them around 1.1 million Sats. They charged 11.25 percent interest and I didn’t have to pay any of it back for one year. My plan was to buy $500 of Sats and watch the price of BTC go back up into six digits and pay the loan back with all the money I made from NGU, but instead it tanked even more, leading me to add a couple hundred more dollars to the collateral in order to keep them from liquidating it. This was all just a bit much for me and I freaked out and paid to get my Sats back. It was all really smooth and they were really easy to work with. I just picked a terrible time to try it. I might do it again when I’m in a better spot financially (was just laid off). Sorry for the long-winded answer and I hope it helped a little bit. I’ve only put in a couple thousand hours into studying Bitcoin so far, so I don’t understand everything. Yet!
❤️2