One of the more exciting advancements in the cryptocurrency industry is the ability to leverage your crypto holdings to borrow fiat currencies. At ICCL, we offer collateralized loans using Bitcoin (BTC), Ether (ETH), or Litecoin (LTC) to get USD loans.
How does crypto lending work?
Well, with traditional collateralized loans, the borrowers will stake an asset and receive money in response. The main benefit is that you don’t have to sell any of your assets in order to receive this funding. With ICCL, instead of using a home or business, you’re collateralizing your crypto assets.
Why is not having to sell your crypto important? Well, if you believe that your investments will go up in price over time, you may not want to sell them before they reach that maturity. With a ICCL loan, you keep all the upside potential of your crypto. Additionally, any forks that happen during the term of your loan will be passed back to you as long as our custodians support that fork. Click here for more information on how we store your digital assets.
Another major benefit of not having to sell your crypto, ICCL asset backed loans can also have positive tax benefits. For example, your loan does not involve any taxable events. That means there are no capital gain taxes to claim. With that said, everyone’s situation is different and we are not tax experts. Please consult with an accountant before making financial decisions. Click here for more information on how ICCL can limit your tax exposure.
What can I use a crypto asset loan for?
There are a number of use-cases for a ICCL loan. One of the main use-cases our clients report is for investing in real estate. Whether you’re buying your first home or renovating, a crypto asset backed loan is a great way to access the value of your crypto without selling. Other uses-cases include diversifying investments, paying off taxes with cryptobacked usd, and paying off higher-cost debt.
ICCL also has a number of business clients who look to us to help them do anything from funding payroll to paying for an expansion. We’re proud to provide this level of liquidity to help grow the crypto ecosystem.
Click here for more ways you can use a ICCL.
How does a ICCL loan work?
It takes less than 2 minutes to apply for a ICCL loan. Once submitted, our ICCL team will give you a decision and present you with loan terms within hours. After you accept and send your collateral, we will wire USD directly into your bank account. It’s as simple as that.
End-to-end, our clients can apply and have USD in their bank account as few as 90 minutes. Additionally, we have the largest U.S. lending footprint and interest rates starting at 8%, making us the largest, fastest, and most affordable crypto asset-backed lender in the U.S. If you’re looking for a way to leverage your digital assets without having to sell, apply for a ICCL loan today.
If you have any questions about ICCL or how our loans work, please contact us at support@iccl.io. We love hearing from you.
