A securities based line of credit, but for crypto?

[Sergeant Major]

I was watching a video on how rich people save on taxes by borrowing against their stock portfolios with a securities based line of credit.

I was wondering if such a thing exists for cryptocurrency.  If it doesn't, maybe it will someday.

https://www.youtube.com/watch?v=7W0uvrGuOW4

[Fortify]

I was watching a video on how rich people save on taxes by borrowing against their stock portfolios with a securities based line of credit.

I was wondering if such a thing exists for cryptocurrency.  If it doesn't, maybe it will someday.

https://www.youtube.com/watch?v=7W0uvrGuOW4

The key phrase there is "rich people" who have a varied mixture of wealth and solid income sources as back up, not a crypto bro who just has "paper" wealth all held in a single coin asset. Banks don't want to indirectly be holders of crypto, which is what they become when lending money without anything else to protect them. Clever rich people diversify and that gives them a lot more stability, plus gives reassurance to lenders that there are other assets that might not crash to the same degree or at the same time.

[asriloni]

Such thing is exist in crypto. I've been regularly borrowing some money against my crypto portfolio that i used it as collateral. Just go to exchange site, then you can borrow money against your cryptocurrency. Even there is also some credit line that doesn't require collateral, but only available for US resident only.