A blockchain-backed loan is money you borrow for any kind of personal or business use, such as paying off credit card debt, investing in home improvements, taking a special vacation, or paying for an engagement ring or wedding expenses. The loan is collateralized by a blockchain asset, like bitcoin. Taking a loan can be a smart way to consolidate high-interest rate balances under one monthly rate. To pay the loan, you make monthly payments of principal plus interest. A loan gives you the flexibility to make big purchases, then pay it off at a pace that makes sense for you.
What is a blockchain-backed loan?
