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@ Vhtech777
2025-06-06 01:50:39
Yes, exactly! Bitcoin can indeed help you access credit, but usually in a different way than traditional banking credit. Here’s how:
1. Bitcoin-backed loans:
You can use your Bitcoin holdings as collateral to get loans in fiat currency (like USD, VND) or stablecoins (like USDT). Platforms like BlockFi, Celsius (though some face issues now), Binance Loans, and others allow this. You deposit Bitcoin, and they lend you money against its value without selling your BTC.
2. Crypto credit cards:
Some credit cards let you spend your Bitcoin balance or earn Bitcoin as rewards. While these are technically credit lines, they tie back to your crypto holdings.
3. Decentralized finance (DeFi) lending:
On blockchain networks like Ethereum, you can use your Bitcoin (wrapped as WBTC) to borrow other tokens or stablecoins via DeFi protocols like Aave, Compound, MakerDAO, etc.
4. Using Bitcoin as proof of wealth:
Some lenders may accept your Bitcoin holdings as part of assessing your creditworthiness, even if not directly collateralized.
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