Cryptocurrency and No Credit Check Loans – Circumventing They System All-Together!
For those who haven’t caught on, Cryptocurrency has the promise to potentially turn the banking system on its ear. Since 2009, the BitCoins market has emerged along with BlockChain technologies. From then on it’s starting to usher in a new era of making and receiving payments. It’s completely separate from the old status quo banking institutions, while substantially raising privacy. Banks are scared! Already we’ve seen larger banks like Bank of America, Chase, and Citi bank users buying BitCoin with their bank’s credit cards.
You may leverage the cryptocurrency sitting in your crypto wallets to build your credit score
Today you can easily find crypto debit cards. However, debit cards don’t do anything to build your credit history or improve your credit score. You may leverage the cryptocurrency sitting in your crypto wallets to build your credit score. A crypto-secure credit card may give you that opportunity to start. There are rumors of crypto-secured credit cards like SALT coming soon.
As the use of cryptocurrency as an alternative currency is increasing rapidly. Also ALT Currencies like SALT are delivering innovations in lending as well. Although No Credit Check Loans and Payday Loans sometimes get a bad rap. But they have their place in the market when used responsibly. For cryptocurrency holders, No Credit Check Cryptocurrency Block-Chain-backed loans offer liquidity.
Like Margin Accounts that you may have if you trade stocks. With Cryptocurrency Block-chain backed No Credit Check Loans there is only a small chance of a credit reporting issue. A Margin Call happens when If by some chance your equity falls below the maintenance margin value established by FINRA or your creditor. When you don’t have enough equity to repay the loan, you become personally liable. Only then you can send it to Collections to end up on your credit report. Like Margin Accounts, failure to pay back your outstanding Cryptocurrency loans when your margin value drops below the liquidation level may affect your credit score.