Oleg Galeev

6 months ago

World’s First bitcoin Mortgages launching in Ontario

Paying Rent with bitcoin

Ledn.io is launching the world’s first bitcoin mortgages in Ontario. For anybody that holds bitcoin, they can receive a cash loan equal to the amount of bitcoin they have. 

The Bitcoin Mortgage offered by Ledn.io allows bitcoin holders to keep their assets and access liquidity at the same time. Ledn are aimed at people who do not wish to sell their bitcoin for a downpayment on a property. Taking a loan against digital assets also has tax benefits. If you don’t sell, you don’t need to pay capital gains tax. 

With Ledn you can receive a loan to buy a property or finance an existing one. They can give loans equal to 100% of your bitcoin holdings plus the value of your real estate if you already own property. For example, if you have $100,000 worth of bitcoin you can receive $100,000 as a cash loan. Once you buy the property, the real estate is added to the collateral as well. 

With regular bitcoin collateralized loans, if the value of bitcoin drops, you will be asked to top up your collateral. If the value drops too much you could be liquidated in order to pay back the loan. However, with a Bitcoin Mortgage, since the property is also added as collateral once purchased, this helps to stabilize things. Real estate is a relatively stable asset, so the Bitcoin Mortgage can tolerate more volatility than regular bitcoin collateralized loans. 

The Bitcoin Mortgages are currently offered on two-year terms which can be reassessed and renewed. Ledn states that the interest rate for their Bitcoin Mortgages will be lower than their dollar and B2X loans which is 9.5%. 

Ledn’s Bitcoin Mortgages are being rolled out to select homeowners in Ontario first and to the rest of Canada and the USA in 2022. You can learn more and join the waitlist here. 

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Author

Oleg is a crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.

He decided to review different crypto exchanges in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.

His writing has been featured in popular Canadian media sources such as Toronto Sun.