Taking out a loan is a daunting process for many. The paperwork and approval process can deter those looking to purchase real estate or start a new business from putting their plans into action. However, there is a new way to take out loans that is faster and easier than traditional bank loans. A BTC loan might be perfect for you—here’s why.
Taking out a Bitcoin loan is safe, easy, and accessible to anyone. BTC loans are available without the slog of paperwork or long approval processes. There are no credit checks, and you will receive real US dollars in your bank account within two business days. BTC loans are ideal for big life events like buying a home or growing a business and for those who need a quick influx of cash for emergencies. BTC loans don’t require a long stretch of planning, making them a great option for those looking to speed up the loan process.
Those unfamiliar with Bitcoin may be concerned about the safety of their money when taking out a BTC loan. The platform used to take out the loan is responsible for the security of your Bitcoin during the loan process. Choosing the right platform for your loan is important, just like choosing a bank in a traditional loan. Unchained is one such platform that ensures the safety of your Bitcoin with a three-pronged approach called collaborative custody. The system provides you, Unchained, and their key agent, Choice, each with a key. The key allows you to verify that you are sending your Bitcoin to the right place. Only you have authorization to move your Bitcoin; Unchained and Choice must collaborate to move your Bitcoin and are only authorized to do so if the loan agreement is violated. This type of safety measure ensures that your BTC, your loan, and your money are secure.
There are several other benefits to BTC loans. Bitcoin loans are currently not taxable, making them ideal for anyone looking to save money. Taking out a BTC loan can also be a great alternative to putting everything on a credit card. The payment plans are simple and easy to use, and Bitcoin loans will not impact your credit score like credit card debt. There is still interest and APR on BTC loans, but platforms like Unchained have calculator tools that make it easy to see how much interest and APR would be expected. Unchained also offers consultations to those still uneasy about taking out a BTC loan.
Managing money in today’s world is difficult, especially for those with non-traditional jobs. Getting back on your feet after a period of debt or dealing with the red tape at banks when trying to take out a loan can be discouraging and feel never-ending. Centralized finance is not for everyone. It can be intimidating to try something new, but equally rewarding. If you are struggling with taking out a loan, check out Bitcoin loans as a possible solution.
This article was written in cooperation with Unchained.com