The level of conditioning most people have with regard to money is unreal.
Banker: We're going to accept your loan and pay you 0.6%. Meanwhile, we will use your loan as collateral to lend money to Joe for a house, and he'll pay us 3%. Oh, and btw we are't even going to keep that loan here. We are going to sell it as fast as possible and do it all over again! But sure, you can take your loan back at any time so long as not everybody does that at the same time.
Brainwashed: But can I get 0.65%?
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When I needed a loan for the car three years ago my bank said that my credit score is too low and declined my application. As well as for the line of credit. A private company gave me a 30% interest. After I repaid my loan they keep sending me offers for a new loan with great interest because I'm a good customer. 22%.
I'm using Nexo now.
Should I tell them that now I'm on Leofinance and I don't need any loans. Ever, hehe.
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Nexo looks interesting. What's the advantage to that over MakerDAO or similar?
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It's centralized and regulated. Funds are insured. You can increase interest by 2% by stacking their token. You can connect with your bank account and deposit fiat as well. Get 5% on fiat holdings. High collateral for stable coins and fiat. I would say that it's a bank and exchange at the same time. Registered in Switzerland.
I can see it as a perfect fit for today's crypto guy like me. It's here and it's working and improving. No pie in the sky.
But what do I know? I'm just an oldtimer on the blockchain.
Not your cup of tea as far as I see from your posts but you should check this out.
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