For people who own crypto but who don’t have any other asset they can use to get a bank loan, using crypto to borrow fiat currency is a kind of magical 2-step.

Here’s how the 2-step works:

  • first step, they use their crypto asset as security to get a loan from one of the new crypto lenders to buy a property mortgage-free; and
  • second step, they give their bank a first ranking mortgage over their new property to get a bank loan that they use to pay off their loan from the crypto lender.

Here’s the magic. They used their Bitcoin etc. to get a loan in, say, US dollars to buy a property and they used that property as security to get a bank loan to pay back their Bitcoin loan ― they’ve gone:

  • from having no property but a financial asset (their crypto) that they couldn’t use as security to get a bank loan;
  • to having both:
    • a property mortgaged to the bank in the traditional way with a traditional loan; and
    • their crypto.

Apply for a loan from Helio Lending today and take advantage of our low rate and no fee loans.

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