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My brother is really big into crypto, and convinced my dad to get $1k in ETH. Over thanksgiving, they were hanging out talking about crypto, and my dad said he
by _juzq 5y ago
My brother is really big into crypto, and convinced my dad to get $1k in ETH. Over thanksgiving, they were hanging out talking about crypto, and my dad said he wanted to mess around with swapping tokens around and layer 2's but didn't want to touch his principal. So he opened AAVE, deposited his ETH, and got a loan in about 5 minutes flat. I thought that was pretty cool? I've never taken a loan for anything but student loans but I imagine it would be infinitely more difficult and time consuming to get a small personal loan like that from a bank.
I definitely agree that a TON of the crypto space is super scammy, and think it's an absolute shame, I don't blame anyone for being scared off.
- tehjoker 5y agoIt's not very convincing if you don't have any experience with actually getting loans. A quick google showed me plenty of fast loan providers.
- _juzq 5y agoIt's not? I feel it would be disingenuous to imply that traditional 'fast' loan providers can match the speed/ease of getting a loan in 5 minutes, sitting on your couch, on thanksgiving day, with the funds instantly being available and requiring no documentation, forms, or manual approval. I mean if I'm wrong feel free to show me, I might just be ignorant.
- m_ke 5y agoAffirm? https://www.affirm.com/ https://www.affirm.com/