Good question! The beauty of DeFi lending is that the only qualification for the loan is having the qualifying crypto assets. For example the MakerDao on Ethereum accepts Ether and Bitcoin. They will give you the loan if you have Bitcoin or Ether to deposit. They don’t decide if it is a wise financial decision for you, nor do they evaluate whether you have a good credit score. If you pay back the loan, fine. If you don’t they sell enough of your crypto to satisfy the loan and then give you the rest of your crypto back. It’s code, it doesn’t care, so to everyone it’s fair.

Posted Using LeoFinance ^Beta