Hey everyone,
I have been talking with a well known custodian and a few potential lenders regarding loans for Casascius coins. I am personally interested since a loan does not trigger a taxable event and it is also a way to access liquidity without having to peel or sell coins (especially with premiums as low as they are).
The lenders are interested but one of their main questions is how large the potential market is for this before they invest time and money into it. If you are potentially interested in getting a Casascius coin loan, DM me or comment here and if comfortable give a ballpark estimate of the BTC value you would be interested in getting a loan on. Obviously this is not binding in any way and I will leave it to them to legitimize the process and ensure the safety of all our coins, but this market research would be quite helpful. Thanks
I have been talking with a well known custodian and a few potential lenders regarding loans for Casascius coins. I am personally interested since a loan does not trigger a taxable event and it is also a way to access liquidity without having to peel or sell coins (especially with premiums as low as they are).
The lenders are interested but one of their main questions is how large the potential market is for this before they invest time and money into it. If you are potentially interested in getting a Casascius coin loan, DM me or comment here and if comfortable give a ballpark estimate of the BTC value you would be interested in getting a loan on. Obviously this is not binding in any way and I will leave it to them to legitimize the process and ensure the safety of all our coins, but this market research would be quite helpful. Thanks
Walk me through this. If someone gets a loan, they are going to have to pay interest on that. How do they pay that back if they never want to access their coins?
If you have a 1 btc coin, I do not believe they are going to loan you the current dollar amount, or am I wrong? I checked out a thing on Celcius and to borrow like 20k, i needed to deposit like 1.65 btc with them as collateral. I suppose this is better than selling and potentially having to buy back btc at a higher price. And the interest rates seemed quite reasonable at like 0.7-1%.