RE: Playing The Dangerous Loan Game

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It certainly makes more sense typically to take loans from other places for the long term. In the United States a lot of times you can do 0% interest credit cards for 12 or 18 months and you can do credit card convenience checks with those.

At some point we are leveraged out far enough we can't get those and we are the wretched and the forgotten so we have to do the crypto loan option! Lol

I was even looking at taking a USDC loan on Venus to make some additional moves in the short term.



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0% is nuts, i'd be borrowing my ass off making smaller trades pocketing the spread and giving back the money and re-doing it over and over and making risk free gains.

Have you checked out peer to peer lending like hodl hodl? There you can set your own rates so no need to be subjected to the platform smoothing out rates and taking their cut and still trading your coins for extra profit

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That's pretty cool. I don't know why they didn't make it with more than just Bitcoin. With the high fees it makes it really tough.

But yeah the 0% interest for 12 to 18 months is awesome. And a lot of times you get a sign up bonus. So if you spend $3000 in the first three months you can oftentimes get $300 for it. It is like extra income just signing up for all these cards. I'm pretty tapped out though in some respects. I would need to take some crypto and pay down some balances and reset the deck.

They have been giving away new cars like Haloween candy here in the United States as well with the pandemic. It is ridiculous. Like 0% interest for 36 months and crazy stuff.

The most insane thing is they would look at a guy like me as if I was a street tweaker who isn't qualified but then they would look at a 19 year old working fast food and they would be qualified. Unreal.

I have never made car payments. I have always bought older cars all cash but now the interest rates and deals are so low that it is hard to justify tying capital up.

Posted Using LeoFinance Beta

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