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?
Am not too certain but I think the CEX binance offers some kind of loan feature where your BTC will be held and USDT will given to you with little interest too although am just saying haven't really tried it before but I assume thats how the service work. You can check it yourself or someone who is more experienced with it can shed some light.