Getting Started with ETH-Backed Loans on Coinbase
Coinbase now lets you borrow USDC against your ETH with Morpho.
Sometimes you have to sell crypto to cover expenses. That's life. The downside of course is that afterwards you have less crypto, plus those sales trigger a taxable event.
These pain points make DeFi borrowing very attractive.
Instead of having to travel somewhere, fill out paperwork, and deal with credit or put up your IRL property to secure a personal loan, you can borrow permissionlessly with DeFi in minutes, and from the comfort of your phone, by collateralizing your crypto in smart contracts.
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William M. Peaster
William M. Peaster, Senior Writer, has been with Bankless since January 2021. Immersed in Ethereum since 2017, he covers the onchain frontier with a particular interest in art, games, and other culture apps. He has a background in creative writing and writes fiction in his free time.
