A crypto backed-loan with BlockFi is a great way to unlock capital without having to sell your assets and incur a taxable event. We also offer a much faster process for obtaining a loan than traditional lenders. We do not require any credit information and are able to approve and fund your loan as long as you have sufficient collateral. Many consumers don't want to sell their crypto assets because they believe their assets will appreciate in value in the long-term. Below are a few of the reasons so many clients choose to pursue a crypto-backed loan with BlockFi:
Paying Down Credit Card Debt
With the threat of compounding debt looming over many, crypto holders now have the option to pay down your high-cost debt with a lower-cost loan from BlockFi. This is also referred to as refinancing debt, where a borrower takes out a new loan at a lower cost to pay off a more expensive loan.
Purchasing a House/Real Estate
For people who hold a large amount of crypto, leveraging your crypto assets can be a great way to simultaneously diversify your investments with real estate. Whether you’re looking to pay for an entire home, or just the down-payment for a real estate investment, this is a great option for people who need to access the value of their digital assets.
Buying a Car
While some dealerships are now accepting crypto as payment, they are applying heavy fees to those transactions. It also takes much more time to be approved for a loan or crypto payment through a dealership than with a lender directly. Using BlockFi to fund a car purchase can save you the headache and added fees associated with working with dealerships or banks that don’t specialize in crypto.