Quote from: xiver88 on May 21, 2024, 11:27:53 PM

Hey guys. I don't want to sell my btc, but I need some money for my family vacation. I looked around several DeFi platforms where I can lock wrapped BTC and get stablecoins, also looked to companies like SALT and Unchained. I don't like 2 things: high interest rate and liquidations. Anyone took BTC backed loans? What is your experience?

Honestly, you are not in the right path with your investment journey. First, the reason why you want to get your bitcoin involved into a loan is not really important. Secondly, you should have savings or any funds for emergency purposes that could also be used to such occasions like family vacations. And third, you are risking your bitcoin to a DeFi platform with wrapped bitcoin.
Well, if you really wanna do it, I advise to just look for someone who can get you the money and make that bitcoin you have as a collateral or go look for a bank that could offer you loans without involving your bitcoin, because you're just gonna pay it anyway in fiat, right?