Is there any group on coinbase giving bitcoin loans

[Fon Fon]

I got somewhere that I was asked to get a bitcoin loan from coinbase ie an email address like coinbase.xxxxxxxx.com. You fill in details and a loan is approved payable in 3 months but you have to pay cost of paper work through an address. It is actually smelling like scam but has anyone in the community seen such a thing. Do certain systems grant crypto loans?

 

[nopolice]

That smells like a scam from two miles away. Avoid anything like that, they are not affiliated with Coinbase as they are using a subdomain on their own website.

 

[SirSmash]

You can get crypto loans, as in use your crypto as collateral to secure a credit line. You would do this if you're say HODLing Bitcoin and expect it to continue going up as you retain profit from upside potential, but want additional funds to use elsewhere. It's a leverage tool.

However you're not likely get someone to just loan you crypto because your credit score is good. And anything with a subdomain is going to be a scam.

 

[Fon Fon]

You can get crypto loans, as in use your crypto as collateral to secure a credit line. You would do this if you're say HODLing Bitcoin and expect it to continue going up as you retain profit from upside potential, but want additional funds to use elsewhere. It's a leverage tool.

However you're not likely get someone to just loan you crypto because your credit score is good. And anything with a subdomain is going to be a scam.

thank you SIR

 

[rajkumar31]

Coinbase borrow is not yet live and invite only. Please don't fall for scams.

 

[Deleted member 1333509]

That's almost certainly a scam.

You can borrow crypto from Binance by putting down crypto as collateral.

There is not a platform dumb enough to start giving out crypto loans without some kind of collateral, and that's how you can tell the thing you were talking about is probably a scam.

Also, just because they ask for collateral doesn't mean they're not just going to steal that. Only use large major platforms like Binance that are pretty much 100% trustworthy for anything like that. Crypto.com, Binance, the actual Coinbase platform, other major crypto platforms. Don't trust anything else.