RE: Interest-Free Loan : Unleash the upside potential of BitShares !

You are viewing a single comment's thread from:

Interest-Free Loan : Unleash the upside potential of BitShares !

in bitshares •  6 years ago 

I am confused...I can actually borrow into US dollars and transfer money to my bank account? Or just convert into bitusd to buy other coins?

bitshares
6 years ago by

Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

  • Disagreement on rewards
  • Fraud or plagiarism
  • Hate speech or trolling
  • Miscategorized content or spam

Submit
$0.00
    4
    Authors get paid when people like you upvote their post.
    If you enjoyed what you read here, create your account today and start earning FREE STEEM!
    Sort Order:  
  • Trending
    • [-]
      ·  6 years ago (edited)

    The trick is that your collateral is sold in free market if you are too greedy and the price of BTS falls down, like it is now. You loose money in that case.

    Edit: No, bitUSD is US dollar derivative (a caltulated currency) that you can exchange to US dollars as well.

    Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

    • Disagreement on rewards
    • Fraud or plagiarism
    • Hate speech or trolling
    • Miscategorized content or spam

    Submit
    $0.00
      1 vote
      [-]
        ·  6 years ago (edited)

      "The trick is that your collateral is sold in free market if you are too greedy and the price of BTS falls down, like it is now. You loose money in that case."

      100% correct.

      Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

      • Disagreement on rewards
      • Fraud or plagiarism
      • Hate speech or trolling
      • Miscategorized content or spam

      Submit
      $0.00
        [-]
          ·  6 years ago 

        SmartCoins are guaranteed to be worth at least their face value. 1 bitUSD = 1$. Their value are backed by the BitShares core currency, BTS.

        But if you want to convert bitUSD to real US Dollars (transfered to your bank account) : you have to convert it to another crypto. For now.

        Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

        • Disagreement on rewards
        • Fraud or plagiarism
        • Hate speech or trolling
        • Miscategorized content or spam

        Submit
        $0.00
          [-]
            ·  6 years ago (edited)

          For example : You can borrow bitUSD with BTS. BTS is your collaterized promise to pay back the loan you made. With your fresh BitUSD you can buy BTC and transfer BTC to your wallet if you want.
          If you want to cashout those BTC : localbitcoin, coinbase, kraken or any other exchange.

          I can advice you Blocktrades.com if you want to convert and transfert bitUSD to your BTC wallet easily.

          Capture.JPG

          Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

          • Disagreement on rewards
          • Fraud or plagiarism
          • Hate speech or trolling
          • Miscategorized content or spam

          Submit
          $0.00