I just paid off some of my credit cards using crypto loans. Incredible.

This may seem like a shill post but I’m genuinely ecstatic and can’t believe this is a real thing.

I’ve been into crypto for a few years now but I’ve always been the HODL’r type, never really did research on blockchains or anything. I few months ago I discovered Proton (XPR), and started reading about how they want to be the first blockchain bank. I originally found this coin from SOL because I was trading a lot of NFT’s, and I felt like the market was getting out of control (too many rugs, too expensive, to diluted). So upon researching “new and small NFT blockchains” I discovered Proton.

Anyway, I’ve been doing a lot of yield farming and stuff with them and I’ve been happy and then a few weeks ago they released their lending platform. APY was (and is) low so I didn’t think I would participate. That’s when I realized “wait, I have all the credit cards that I’ve been neglecting paying off because I keep throwing money in crypto and I don’t want to sell my crypto”. So I ended up taking a loan, paying off some of the credit cards, and I get to still have my Proton! Now all I do is may small payments to pay off my loan, I’m not paying any interest on it, and I’m not losing interest on credit cards. If your crypto of choice has DEFI, I highly suggest you learn about it and take advantage of this really cool thing. No paperwork need which is the best part and I had the money in my bank within 15 minutes of me taking out the loan.

If your crypto does not offer DEFI, you should look into Proton. They allow you to wrap Proton into many other coins like ETH, BITCOIN, DOGE, etc, so you could technically still hold them without paying any fees. And you can loan those out too and make money off that! Basically you can loan out and of those coins, make money, and then borrow against it in any other currency. But that’s not the point of this post. The point is that this is sooooo freaking cool.

Again, sorry if this came off as an ad for Proton, it really isn’t meant to be. I’m just really excited for this coin and just the crypto tech in general!

TLDR: I paid off some credit cards and avoided paying interest by taking out a crypto loan (on Proton blockchain). If your crypto of choice offers loans, you should research it because it’s a powerful tool.

Edit: A lot of people are offended in my decision. Maybe it’s because I forgot this detail: My credit card debt was around 21 percent APY. MY new crypto Loan is around 3 percent APY but at least for the near future it’s actually lower because I’m getting rewarding for lending and borrowing and that’s offsetting the cost of the loan. So now I get to get rid of my high interest debt while keeping my crypto. Win Win.

Also, none of this is financial advice! Do your own research!