Cryptocurrency-backed loans are similar in structure to your specific security-backed loan, allowing you to access your crypto wealth. DeFi (Decentralized Finance) platforms give loans for HODLers willing to set their cryptocurrency as collateral. Unlike the traditional lending systems, DeFi platforms don't penalize you for paying off the loan ahead of time. The lender can cash out or liquidate your collateral if you fail to repay the loan.
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