Coinbase Stops Coinbase Borrow

Coinbase is now stopping Coinbase borrow.

If you are not aware of Coinbase borrow, here is what you need to know and why it matters.

Coinbase Borrow

Coinbase, one of the biggest cryptocurrency exchanges out there, has been offering loans to its customers! That’s right, you can now borrow money from Coinbase and use your crypto holdings as collateral. This is a great way for people who have invested in cryptocurrencies to get access to cash without having to sell their digital assets.

Here’s how it works: if you need some extra cash, you can apply for a loan through Coinbase. The amount of money you can borrow depends on the value of the crypto assets you have stored with them. Once you’re approved, you’ll receive your funds within 2-3 business days.

Customers are finding this service very useful because it allows them to keep their investments intact while still accessing the cash they need. It’s also a great option for people who may not be able to qualify for traditional loans due to their credit score or lack of collateral.

So if you were looking for a fast and easy way to get some cash using your crypto holdings, Coinbase Borrow might have been the solution for you! Most people would remember, borrowing always comes with risks so they would make sure you understand all the terms and conditions before taking out a loan.

Coinbase Borrow Comes to A Halt

Coinbase borrow comes to a halt on May 10. It is an issue because borrowing against your digital assets is likely better than selling your assets and having a huge tax liability.

This halt to the program is interesting because one wonders why it happened. Is it because there is tightening on lending overall and because of the general economic conditions? Or is is it due to a crypto specific matter?

Coinbase also is in a battle against the SEC for other matters and so this will be something to watch over the course of the next few months and how it will have an impact on the cryptocurrency sector.