Everyone has a dream trip. Whether your idea of paradise is sipping a chilled wine on the Amalfi Coast, experiencing the sushi in Tokyo, or going on safari in South Africa all these trips have one thing in common: they’re expensive. As a crypto investor, it may be tempting to sell some of your investments to finally go on that once in a lifetime trip. But there is a better way.
What’s the best way to finance Crypto Travel?
Finance your dream vacation by leveraging your crypto for a BlockFi loan and travel the world with crypto.
How does a crypto backed loan work? Well, our clients use their Bitcoin (BTC), Ether (ETH), or Litecoin (LTC) cryptocurrencies as collateral. Once the loan is paid off, you get your crypto back. It’s that simple. Click here to learn more about how BlockFi stores clients assets.
BlockFi has helped our clients travel the world using Bitcoin. Whether you’re planning a trip to the Philippines or need some spare cash on the middle of your hike through the Pacific Crest Trail, we’re here to help.
Why use BlockFi for my crypto backed loan?
Well, a BlockFi loan is interest-only, meaning you only have to pay the interest on your monthly payments. As an example, let’s say you took out a travel loan for $5,000 with a 8.5% annual interest rate. If you did, you would only have to pay $35 per month. That’s 0.7% interest per month over the 12-month loan term. Nice and easy. Other crypto asset-backed and traditional lenders offer amortized loans. A fully amortized loan on your $5,000 would end up costing you $436 per month. That’s 1% interest per month over the 12-month loan term. Nice and easy. Other crypto asset-backed and traditional lenders offer amortized loans. A fully amortized loan on your $5,000 would end up costing you $444.24 per month. That’s the same as buying an iPad every month for a year. Our team of market leading professionals will work closely with you to make sure you get the best possible rates and answer any questions you may have. Learn more about BlockFi’s crypto backed loans.
What happens to my crypto during the term of my travel loan?
We store our client assets with Gemini, a New York trust company licensed by the New York State Department of Financial Services. They have a perfect track record when it comes to security and loss prevention. Click here for more information on how BlockFi stores client assets.
The best part is that BlockFi clients get to keep all of the potential future upside of their crypto, while traveling the world. You get to keep all of the interest, price appreciation, and forked coins (as long as they are supported by our custodian). It’s that simple. Click here for more information about what happens if the value of your collateral changes during a crypto loan.
At BlockFi, we understand the frustration that comes with the travel-shopping process. Our team of lending professionals work closely with clients to make sure that they’re getting the best possible rates. The best part? It takes less than 2 minutes to apply.
If you have any questions about BlockFi or how our loans work, please submit a support ticket HERE. We love hearing from you.