Part 6/9:
The Benefits of DeFi Loans
Flexibility: Unlike traditional loans, there are no strict repayment schedules, and I am under no obligation to pay back at regular intervals.
Speed: I acquired the funds in under two minutes. This rapid process stands in stark contrast to traditional banking, especially during holiday periods.
No Credit Investigation: The protocol does not assess my financial history beyond the deposited collateral. This allowed me to maintain my anonymity and privacy.
Potential for Infinite Loan Duration: While traditional loans are limited to defined terms and monthly payments, loans in DeFi can be paid back whenever the borrower chooses.