OKX $60k Bonus: bit.ly/OKX-ZG MoneyZG Crypto Course: moneyzg.academy Scammers are in the comments! I will NEVER contact you! I do NOT have WhatsApp or Telegram!
I'm really worried about the security of my OKX USDT. Should I be worried about the safety of my OKX USDT if someone knows 'survey come fall pair throw ankle coach cheap dutch liberty burden since'?
If you don't want to sell your ETH, you can put it up for collateral and borrow against it. Not only do you not incur a tax event from selling ETH for USDT, but you also don't have to pay taxes on loans. It is a way to take profits without actually selling out of your position. You just want to be careful with how much you borrow against, as you can get liquidated if your collateral value falls enough that you can't cover the loan
Here is another instance. If I own btc but don’t want to sell. I can put up my btc, barrow cash and then use that to say buy a house. Then pay back that loan and keep my btc. And not have to deal with banks
One more instance if I own bitcoin and I want to buy more bitcoin I can put my bitcoin up as collateral borrow money and use that to buy more bitcoin. Then I can pay back the loan with a tax incentive while owning more bitcoin Obviously, don’t put up your bitcoin in the middle of a bull market that could bust and then you get covered
This is not possible yet as far as I know. The best alternative at this point is to convert it to WBTC on another network and loan it that way. I would expect this to be possible in the future considering the direction the world is taking with crypto
I’ve messed around with some of these yield farming pairs in the past but I feel like with all the links in the chain it’s inherently risky. I now prefer to just stake in my exchange’s app.
You should do it the other way around: deposit ETH and borrow USDT to buy more crypto/ETH so that when the price of ETH rises you can pay your usdt debt. If you borrow ETH you must also repay ETH so when the price rises your debt increases
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MoneyZG Crypto Course: moneyzg.academy
Scammers are in the comments! I will NEVER contact you! I do NOT have WhatsApp or Telegram!
Crazy how much more you can do on these protocols now compared to when I started watching your tutorials
This video is gold. TY James!
Do people use this for Tax benefits?
I'm really worried about the security of my OKX USDT. Should I be worried about the safety of my OKX USDT if someone knows 'survey come fall pair throw ankle coach cheap dutch liberty burden since'?
How long do you have to keep the money in before you are allowed to pull out?
Is Aave better than compound
Bout the same
Where can I find the funds after I borrow?
Quick question, how long does a lender have to wait before he can get back his deposited funds and its interest?
Aave❤
What's the point of borrowing if you have to supply higher collaterals and pay interest when you can cheaply swap some of your ETH to USDT?
If you don't want to sell your ETH, you can put it up for collateral and borrow against it. Not only do you not incur a tax event from selling ETH for USDT, but you also don't have to pay taxes on loans. It is a way to take profits without actually selling out of your position. You just want to be careful with how much you borrow against, as you can get liquidated if your collateral value falls enough that you can't cover the loan
Here is another instance.
If I own btc but don’t want to sell. I can put up my btc, barrow cash and then use that to say buy a house. Then pay back that loan and keep my btc. And not have to deal with banks
One more instance if I own bitcoin and I want to buy more bitcoin I can put my bitcoin up as collateral borrow money and use that to buy more bitcoin.
Then I can pay back the loan with a tax incentive while owning more bitcoin
Obviously, don’t put up your bitcoin in the middle of a bull market that could bust and then you get covered
Quite informative
Great content
Man awesome video so clear! So how does the repayment work? Do you have to make minimum monthly payment to pay the loan back or just whenever?
Watching the replay..
So - if you supply eth and borrow eth , does it mean you wont get liquidated ? LTV stays the same ??
What is a good Health Factor in your opinion?
On which website can I give native Bitcoin as security for a loan?
This is not possible yet as far as I know. The best alternative at this point is to convert it to WBTC on another network and loan it that way. I would expect this to be possible in the future considering the direction the world is taking with crypto
Can you do a video on the best wallets for storing cryptocurrency?
I’ve gone through this whole process but now I don’t see how I can send out what I’m borrowing. So, it’s useless?
is there a time frame in which I haveto repay the Loan? or i can leave it there untill I repay it? As long as I don't get liquidated of course
You can leave it open as long as you want assuming the collateral continues to be higher than the the loan
Thank You, but i have one question, is this aave site save to lending money?
So if I lend out Weth and Matic, should I have receipt tokens for these in MM?
Say you deposit ETH to borrow USDT , and the value of ETH goes up , does that pay the borrowed money automatically?
Why does my connected wallet keep getting disconnected? Is that something to be worried about?
why cant i import token?
fantastic brother
I’ve messed around with some of these yield farming pairs in the past but I feel like with all the links in the chain it’s inherently risky. I now prefer to just stake in my exchange’s app.
Do not keep your crypto on an exchange. It's not your crypto anymore. Store in a hot or cold wallet and stale from there
I feel you on this
If i deposit 100$ in USDT and i borrow like 60$ of ETH if the price of ETH double i get liquidated ?
I think you get liquidated if the price falls.
You should do it the other way around: deposit ETH and borrow USDT to buy more crypto/ETH so that when the price of ETH rises you can pay your usdt debt.
If you borrow ETH you must also repay ETH so when the price rises your debt increases
Why would you borrow crypto
haha i'm thinking the same
You could utilize the liquidity for things like a business opportunity or emergency situation without having to sell your assets and pay taxes
Leaving your third world country with at least something
FIRST!!
first
see your ETH balance in binance, 3600 ETH T_T
Need your price prediction review on next BIG thing called Turbo Meme Coin, please 🤩🌋
That shit popped off