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Author Topic: Cryptocurrency Exchange In Japan Is Offering Bitcoin Loan  (Read 384 times)
Diced90
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July 17, 2018, 09:15:13 PM
 #41

Japanese Cryptocurrency exchange Bitbank has made an announcement to commence BTC-USD, a Bitcoin borrowing program. The idea has been developed to engage more new customers along with enhancing additional foreign exchange.
https://www.owltmarket.com/cryptocurrency-exchange-in-japan-is-offering-bitcoin-loan/
Wow this is really an innovative strategy to promote bitcoin. Bitcoin has relatively gone so far on its mileage of achievement though there are many critics on it but still bitcoin continue to strive and prove its worth. Well i had enough loan on bank and i am not qualified on this even if they offer it outside on their country.
Exchanges in Japan looks like banks, they applied KYC and AML regulations, so using a loan in BTC seems very similar when you use a normal bank's loan. The difference is that if you don't have incomes in BTC, you can have a problem with the exchange rate (e.g. if the BTC price goes to the moon, you have to pay back much more in fiat compared to the amount you have received in the beginning)

If this is true, then this is a terrible idea. People are already knee deep into debt and now they need to take loans on something that are very volatile.  Huh I should think that the loan is only applicable on the fiat capital that were funded at the time of the transaction, by the Bank. <So on the date of the loan, you buy $10 000 worth of bitcoins and you only pay back that amount and not the increased value of those bitcoins>

You would be stupid to pay back a loan on the basis that the loaned amount increased based on the price of Bitcoin. Last year the price increased by 800%+

I very much agree. This situation would only seem to aggregate and further complicate things at both ends. It would be best to agree on the BTC at the time of purchase + IR


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July 23, 2018, 11:59:59 AM
 #42

japan is very receptive to the presence of this technology is so good that the Banks have an idea to provide BTC - USD loan is really amazing.

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July 29, 2018, 10:23:58 AM
 #43

What a news this is   Its a very promising sign.
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July 29, 2018, 10:26:36 AM
 #44

Japan has made a strong regulation to btc. Only few legal btc owner will have the facility.
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July 29, 2018, 10:28:55 AM
 #45

This is good news for crypto currency.This will certainly make more people to inform about btc. It will also help to rise btc market.
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July 29, 2018, 10:30:58 AM
 #46

Btc loan seems very similar with a normal bank loan.Good idea and I like the program because it will gather many people so they can try to join the bitcoin.
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July 29, 2018, 10:39:30 AM
 #47

It is a great initiative. It is always good to be the first to begin. Maybe, if this turns out to be a successful one, it will enhance most traditional banks to adopt Btc as well. But I think they need to implement more feasible policies to handle the volatility in btc prices and with that, they are good to go.
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July 29, 2018, 10:50:40 AM
 #48

Japanese Cryptocurrency exchange Bitbank has made an announcement to commence BTC-USD, a Bitcoin borrowing program. The idea has been developed to engage more new customers along with enhancing additional foreign exchange.
https://www.owltmarket.com/cryptocurrency-exchange-in-japan-is-offering-bitcoin-loan/

Crediting in Bitcoin can become a pyramid, in case of its rise in price, therefore they give out 1 Bitcoin.
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July 29, 2018, 10:54:27 AM
 #49

It will encourage other person for investing in BTC .It is just like other scheme of banking sector (PPF,stocks).Japan has already open its way for crypto currency earlier by making legal.
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July 29, 2018, 11:04:10 AM
 #50

It loos like the exchanges are trying to become the crypto banks I think.Offering the loan is good thing but I don't know how it become in the future.Anyway it is only for Japan citizen I think so it may not bring any big changes.

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September 23, 2018, 09:46:23 AM
 #51

I think this option is a good thing for their customers, but I'm not sure I would let Bitcoins deal with them. Those who are thinking that they will borrow easily with the BTC-USD return for trading purposes, this idea is not worth the price. But honestly I do not like the idea of returning fiat, in either case if the price goes up or down the only beneficiary would be the bitbank.
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September 24, 2018, 08:33:55 AM
 #52

Not only because of the project being implemented by Bitbank, but also thinking that they are very smart and witty about this, Bitcoin borrows very nicely, there are a lot of theories about it and now they are making it happen. Out, BTC-USD is a big form of lending, hope this comes out good. If Bitcoin drops, it would be great for borrowers, and if it goes up, I believe banks will make a substantial profit. This is a welcome development to promote the use of Bitcoin, I just hope it will not be limited to Japan alone.
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September 24, 2018, 08:49:52 AM
 #53

It's a great idea! I think that this will have a positive impact on the entire cryptocurrency industry.

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September 24, 2018, 08:54:03 AM
 #54

This good new for our community.
How think this is for Japanese people?
Will be good realize it in each country too.

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September 24, 2018, 08:56:30 AM
 #55

I think that's a good sign. Trust in bitcoin is growing, even banks began to use it in their activities, which means bitcoin is developing and it has a great future.

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Today at 05:44:40 AM
 #56

It's a great idea! I think that this will have a positive impact on the entire cryptocurrency industry.

Although this is a great idea, you need to think how you can repay your loan especially if you are hard to make a profit from the crypto. We need to think about this because they will do many ways to make sure that we can pay them and I think you don't want to get into trouble because of that loan, right? So it is better to think twice before you want to use the loan so you can have another balance for anything you want. Make sure that you have a way to pay back the money at the end of the time.
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Today at 06:00:51 AM
 #57

Japan is best country in the world, other countries should also follow the suite.
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Today at 10:22:59 AM
 #58

Japanese Cryptocurrency exchange Bitbank has made an announcement to commence BTC-USD, a Bitcoin borrowing program. The idea has been developed to engage more new customers along with enhancing additional foreign exchange.
https://www.owltmarket.com/cryptocurrency-exchange-in-japan-is-offering-bitcoin-loan/
Already banks have started suffering by losing their revenue from transactions due to bitcoin.And now,bitcoin exchange has started to give loans in bitcoin and this is really a terrible issue for banks who already struggle to survive.

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