Why Bitcoin Loans Are About to Explode
Bitcoin has dominated the news in 2017 with its remarkable gains, and despite widespread skepticism among the financial establishment, the cryptocurrency has continued to make progress toward integrating itself into more mainstream transactions. Having seen more retailers willing to accept bitcoin, supporters of the virtual currency are now turning their attention to a key traditional banking function: lending using bitcoin as collateral.
Major banks haven't yet stepped up to the plate pitching bitcoin loans as a growth driver, but smaller niche institutions have popped up to explore the cutting edge of crypto-financing. There are two reasons why bitcoin loans are about to become the next big thing with investors in the digital currency, and even if you have no intention of ever investing in bitcoin, you need to pay attention as the financial infrastructure to support crypto-lending gets built.
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Source: Fool.com
