I took out a crypto loan today, denominated in euros, with crypto as collateral. And (hopefully) this week I am going to a dealership in Calgary to buy a used car with it. They are okay with getting the entire amount in crypto.
I am paying back the equivalent of the amount in EUR, in crypto over 365 days with 1% of interest. If I default it will cost me my collateral (which is currently worth less than the loan) which is right now a mix of hybrix, vesper and premia (these are all ERC20 tokens) So here…
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