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Coinbase Customers Can Borrow $1 Million Using Bitcoin as Collateral
Nov 04, 2021(Last modified: Dec 19, 2023)
Coinbase Global, Inc. (NASDAQ:COIN) made an announcement according to which its customers can borrow up to $1 million using Bitcoin as Collateral. The customers can borrow up to 40% of the value of the bitcoin in their account and pay just 8% APR with no credit check. The Bitcoin used as collateral will not be used for any purpose by Coinbase. It will just “remains safely”. The company also added that there will be no prepayment or late fees.
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