Argentinians buy out housing with a loan in bitcoin, without letting go of their BTC

Source: Criptonoticias Original Title: Argentinians buy homes with bitcoin loans, without letting go of their BTC Original Link: https://www.criptonoticias.com/comunidad/argentino-compra-vivienda-prestamo-bitcoin/ An Argentine citizen bought an apartment in Villa Raffo, Buenos Aires, through a bitcoin-collateralized loan (BTC) using Tropykus. This is a decentralized finance protocol (DeFi), which allows users to retain their digital assets. Meanwhile, a couple from the same country bought a house using the same method.

The process that the Argentinians followed was simple. They deposited bitcoin as collateral on the platform, obtained a loan in stablecoins (mUSD) and directly allocated it to the purchase of the property.

Today, the apartment is rented, and the rental payments are automatically covering the loan payments on Tropykus. This is a stream of passive income that pays for itself, thanks to the flexibility of the platform, which allows maintaining exposure to BTC while accessing financing.

The user must have a self-custody wallet and transfer their bitcoins to the Rootstock sidechain to obtain RBTC (, the cryptocurrency pegged to the price of BTC on the RSK sidechain ). Then they deposit it in Tropykus and can access a digital dollar loan with a couple of clicks.

Upon completion of the process, the user will receive the loan amount in mUSD in their wallet, and from there they can use it as they wish.

Bitcoin finances houses in Argentina and Uruguay

In the city of Lanús, also in the province of Buenos Aires, a couple decided to use bitcoin as collateral to buy a spacious house. The couple took advantage of a good sale price and accessed a loan using bitcoin as collateral. Although they also had to sell part of their savings in BTC so that the opportunity wouldn't slip through their fingers. These Argentinians obtained their homes without resorting to the traditional banking system.

Similarly, in Uruguay, a family built their home from scratch with multiple loans collateralized with bitcoin. During the construction, they lived in a bus adapted as temporary housing, and now the house incorporates renewable energy. These three cases received commemorative plaques and 250 mUSD on a MetaMask card.

When depositing collateral in Tropykus, users must choose an interest rate in RBTC, DOC, RIF, USDT, or DAI as determined by the market at that moment. Then, with each block, the protocol charges the corresponding fixed percentage of the annual interest.

The credit can be paid as the user decides, it can be in two days, in two months, in two years, no problem. What you should keep in mind is that you will have to pay the interest associated with that credit for the time the loan is open.