thank you so much for the explanation. Now I understand a bit about how it works. Because at first I think it doesn't need any collateral into the agreement or the transaction.
Well it just kind like putting the land certificate in to the bank, when you want to borrow from the bank. But with so much easier and faster isn't it?
at the moment i think i have to stay away from it. maybe next time when i have some BTC to put into collateral, or when i really do need some fast loan.
Yes, I would say it's pretty much the same as borrowing against your home or if you have stocks you can borrow against it in your brokerage account. Yes it's much faster and easier but many people don't need it right now, I think its more a product we would use once we're deep into the trillion-dollar market cap