Coinbase Users Can Borrow Up to $1M With Bitcoin as Collateral

Coinbase Users Can Borrow Up to M With Bitcoin as Collateral
Cryptocurrency exchange Coinbase is now allowing customers to borrow as much as 40% of their bitcoin value up to $1 million with no credit checks, the company tweeted on Tuesday.The borrowing minimum and maximum amounts may vary by state, Coinbase added.The loans will be issued with an annual percentage rate of 8%, and borrowers won’t be required to show credit checks, Coinbase said.Customers can obtain the cash using their PayPal or bank accounts. They will need to make minimum $10 monthly interest payments, and Coinbase is offering flexible repayment schedules.Coinbase said that it won’t lend or otherwise use the collateralized…