Borrow cash using Bitcoin on Coinbase

By Thorsten Jaeckel, Product Manager

Coinbase was created as a reliable, trusted, and safe bridge for people to buy and sell cryptocurrency, and we remain committed to providing the best crypto investing experience for our customers. We now offer easy investing tools for dollar cost averaging, market stats for tradable assets, and support 24 assets for trading. New assets we’ve added include stablecoins USDC and Dai, which can be used by customers to earn rewards when held on Coinbase.

With today’s announcement, we want to give our customers even more control over their crypto investments, while offering secure access to cash at the same time. US customers in eligible states* are now invited to join the waitlist for the option to borrow up to 30% of their Bitcoin holdings.

We hear from customers that they need cash for expenses like home renovations or car repairs, but they do not want to prematurely sell their crypto, or take out high-interest loans that could come with 20%+ APR. With portfolio-backed loans on Coinbase, customers can borrow cash quickly from their Coinbase accounts. No need to fill out a long application or go through a credit check. Customers can simply sign up with a few taps and get the cash in their accounts within 2–3 days.

Eligible customers can join the waitlist today, and Coinbase will offer access to customers starting this fall.

Learn more about eligibility, borrowing cash on Coinbase, and how it works here.

*Customers in the following states can join the waitlist today: Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin, and Wyoming.

Borrow cash using Bitcoin on Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.