Bitcoin Pawning; Cryptocurrency "Secured" Loans Emerge In Ukraine

This week, the Ukrainian pawnshop chain Skarbnytsya announced that they will start offering loans taking Bitcoin and other crypto assets as collaterals, according to this source. They’ll do it with the collaboration of third-party exchanges.
The loan company will take every cryptocurrency market price and risk to calculate the amount of money lent on a case by case basis. They stated that in case of the rise of the crypto used as collateral, the customer could get also a rise on the loan requested. And in the case of a drop, the company would give the customer options to decide what to do with the crypto assets.
Ivan Ipatov, an employee of Skarbnytsya stated that:”The implementation of this project is due to the rapid development of crypto and blockchain in the world”.
Years ago, it would have been difficult for any company to accept bitcoin as a collateral for anything. But it seems that the business model of Skarbnytsya takes into consideration the volatility of the crypto market, and recognizes the importance that cryptocurrencies have today

Related posts
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTETFNewsxbtusd

Bitcoin May Never Go Below $50k Once An ETF Is Approved, Declares On-Chain Analyst

Bitcoin may never drop below $50k asserts on-chain analyst Ki-Young Ju. But as usual, there are conditions that follow this possibility. In a tweet, Ju analyzed that Bitcoin could follow the same path that gold took in 2004 when the first…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Quarterback Star Tom Brady Breaks Internet After Showing Interest In Bitcoin

Tom Brady, the American athlete who is widely regarded as the “greatest” quarterback in NFL history is the latest celebrity to show interest in the world’s most valued cryptocurrency Bitcoin. Brady who has a massive Twitter following of 1.9 million…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Almost $200 Billion Worth Of Bitcoin Is Currently At Risk – Report Warns

A recently published 2021 crypto report by Opimas LLC, a finance-based management consultancy firm, has revealed that approximately 3,480,000 out of the world’s mined 18.5 million Bitcoin, stands vulnerable to attacks as a result of improper safekeeping. The 36-page report…