Last Updated on May 17, 2023 by Olga
Are you in need of some quick cash but hesitant to sell your beloved cryptocurrency Ravencoin? Or maybe you want to avoid the hassle of traditional bank loans and their stringent requirements? Look no further than crypto loans! With the rise of digital wallets, it’s easier than ever to get a loan using your crypto assets as collateral. In this blog post, we’ll explore the benefits of crypto loans and how you can use your Guarda crypto wallet to secure one. So sit back, relax, and let’s dive into this exciting new world of finance!
What Is Ravencoin (RVN)?
Ravencoin is a digital peer-to-peer (P2P) network that aims to implement a use case-specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Ravencoin was announced on Oct. 31, 2017, and released binaries for mining on Jan. 3, 2018, with what is called a fair launch: no premise, ICO, or masternodes. It was named in reference to the TV show Game of Thrones.
The Ravencoin whitepaper was published by Bruce Fenton, Tron Black, and Joel Weight.
They stand out over the majority of the crypto crowd in that they were all seasoned businessmen and developers before they started this project.
What is crypto loan
A crypto loan is a type of loan where you use your cryptocurrency as collateral. Instead of selling your digital assets, you can borrow money against them while still holding onto them. This provides a more flexible option than traditional bank loans that often require extensive credit checks and lengthy application processes.
One key advantage of crypto loans is that they don’t require a credit check or income verification, making it easier for those without traditional financial backgrounds to access funds. Additionally, using your cryptocurrency as collateral means you can avoid capital gains tax liabilities associated with selling off your assets.
However, it’s important to note that there are risks involved with taking out a crypto loan. If the value of your collateral drops significantly during repayment periods, you may face margin calls or even lose some or all of your assets if unable to repay the loan in time.
When you use CoinRabbit crypto loans in Guarda wallet you can top up your collateral amount in any time while loan is open, so you can reduce this risk on your own.
Crypto loans offer an innovative way for individuals to access quick cash while maintaining control over their digital investments.
What are the benefits of crypto loans
There are several benefits to obtaining a crypto loan. Firstly, it provides an alternative option for individuals who do not want to sell their cryptocurrency assets but still need access to cash. This means that they can continue holding onto their investments and potentially profit from any future price increases.
Secondly, crypto loans offer greater flexibility compared to traditional bank loans. Borrowers have more control over the terms of the loan, including repayment schedules and interest rates. Additionally, there is no credit check required when applying for a crypto loan as lenders primarily focus on collateral value.
Thirdly, obtaining a crypto loan can be faster than traditional loans as there are no lengthy application processes or paperwork involved. Transactions can occur within minutes and funds can be transferred directly into the borrower’s wallet.
Borrowing against cryptocurrency assets also allows investors to potentially benefit from tax advantages as they may be able to deduct interest payments on their taxes.
Obtaining a crypto loan provides numerous benefits that cannot be found in traditional lending options.
How to get a RVN crypto loan using your crypto wallet
Getting a loan using your crypto wallet is now easier than ever before. Guarda wallet is one of the first non custodial crypto wallets that allows borrow against crypto for unlimited loan term using CoinRabbit crypto loans solution.
- Log in to you Guarda wallet account – https://guarda.com/app
- Go to special lending page https://guarda.com/app/borrow
- Choose Ravencoin as a currency that you would like to use as a collateral, choose APR and click “Get loan”
That is it. All that simple.
What are the benefits of getting a loan using your crypto wallet?
Getting a loan using your Guarda wallet has several benefits that make it an attractive option for many people. One of the most significant advantages is the speed with which you can obtain a loan. Unlike traditional loans, which can take days or even weeks to process, crypto loans with Guarda wallet are often approved within minutes.
Another benefit is the flexibility that comes with using your crypto wallet as collateral. You can borrow against any type of cryptocurrency, including Bitcoin and Ethereum, and there are no restrictions on how you use the funds. This makes it an excellent choice if you need quick access to cash but don’t want to sell your digital assets. With CoinRabbit loans in Guarda there are more than 100+ available cryptocurrencies.
Getting a loan through your Guarda crypto wallet offers greater privacy and security compared to other forms of borrowing. Transactions are encrypted and decentralized, reducing the risk of fraud or theft while giving borrowers increased control over their financial information.
These benefits make getting a loan through Guarda wallet an attractive option for those looking for fast access to cash with flexible terms and added security measures.
How to choose the right loan for you
When it comes to choosing the right crypto loan for you, there are a few factors that you should consider:
- Collateral Coin: Using crypto loans in Guarda wallet you can choose amaung more than 100+ cryptocurrencies that are available.
- Collateral Amount: You can borrow from 100 USDT
- Loan Amount & LTV: Importantly, CoinRabbit loans in Guarda wallet brings forward a unique solution whereby users can take out up to 90% from their loans. This helps boost your tax optimization efforts and unlocks more cash flows to deal with current needs.
- Loan Term & Interest Rates: While other lenders set up the loan terms and chase after monthly payments, in Guarda wallet you can take a loan with the unlimited term and no mandatory payments. The fixed monthly interest rate at 12% makes it easy to keep track of the payments. Users can repay the debt and close out their loans at any time.
Conclusion
Crypto loans provided in Guarda wallets are a great way to access funds without having to sell your cryptocurrencies. They also offer the added benefit of allowing you to keep your assets secure in your wallet while still being able to use them as collateral for a loan.
When considering getting a crypto loan using your wallet, it is important to take into account factors such as interest rates, repayment terms and fees charged by different providers. By doing thorough research and comparing the available options, you can find the right loan that fits both your financial needs and risk tolerance.
With the growing popularity of cryptocurrencies and blockchain technology, we can expect more innovations in this space in the coming years. Crypto lending is one such area where we can see significant growth and development. It offers unique benefits not found in traditional lending institutions and could become an integral part of our financial systems going forward.
