only 1.28 BTC for $100k cash?
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To borrow $100,000 in USD Coin (USDC) from Coinbase using Bitcoin (BTC) as collateral, you’ll need to maintain a loan-to-value (LTV) ratio of at least 133%. This means you must pledge Bitcoin worth approximately 133% of the loan amount. Given the current Bitcoin price of $104,136, this equates to approximately 1.28 BTC.
It’s important to monitor your loan’s LTV ratio, as reaching an LTV of 86% will trigger automatic liquidation of your collateral to repay the loan and cover any associated fees. Interest rates are variable and adjust based on market conditions. There are no fixed repayment schedules, allowing you to repay the loan at your convenience.Â
Please note that this service is currently available to U.S. customers, excluding those in New York.Â