I think Firefish is great. The risk for the lender is indeed very low - especially compared to the interest you receive.
And from the borrower's point of view, you can borrow your Bitcoin at short notice if you need cash and don't have to sell it. The Bitcoin also remains the legal property of the borrower and therefore the tax exemption does not expire :)
And from the borrower's point of view, you can borrow your Bitcoin at short notice if you need cash and don't have to sell it. The Bitcoin also remains the legal property of the borrower and therefore the tax exemption does not expire :)
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@stefan_21 Have you already taken out a loan?
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@Alexander_Bitcoin not yet. I haven't had the occasion yet. But I definitely have it in the back of my mind :)
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@stefan_21 I feel the same way.
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@stefan_21 will not call it "low risk".
- Risks as with all P2P loans (liquidity, young fintech company with seed financing in April 2025, 100 million volume, not regulated by BaFin - also no deposit protection)
- In the event of large BTC drawdowns, a total loss can occur despite the LTV
- Based in Slovakia with Cayman structures
- Risks as with all P2P loans (liquidity, young fintech company with seed financing in April 2025, 100 million volume, not regulated by BaFin - also no deposit protection)
- In the event of large BTC drawdowns, a total loss can occur despite the LTV
- Based in Slovakia with Cayman structures
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@Ph1l1pp Firefish is based in Prague, but is registered in Slovakia as far as I know :)
Well, a P2P loan agreement is concluded. As the lender, you send the money directly to the borrower and the borrower deposits at least double the amount in the form of Bitcoin.
If the Bitcoin price falls by almost 50%, it is automatically liquidated and the lender gets his money zurück🤷♂️
I would argue that the risk of non-payment is higher with pretty much all other P2P lending platforms.
Well, a P2P loan agreement is concluded. As the lender, you send the money directly to the borrower and the borrower deposits at least double the amount in the form of Bitcoin.
If the Bitcoin price falls by almost 50%, it is automatically liquidated and the lender gets his money zurück🤷♂️
I would argue that the risk of non-payment is higher with pretty much all other P2P lending platforms.
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•@Ph1l1pp and why do you need deposit protection with Firefish? :D
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@stefan_21 I see it exactly the same way. It's relatively safe. Especially as it is also covered by a smart contract.
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@stefan_21 Thank you for your input! That agrees with my assessment. But it's a shame that you haven't taken out a loan yet. It would be good to hear from someone who has actively invested there what the process was like.
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•@stefan_21 just wanted to point out that there are still risks. I asked Chatgpt a few times
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