Bringin is directly connecting Bitcoin and Lightning wallets with fiat tools like IBANs and debit cards, Bringin makes everyday Bitcoin use simple, seamless, and true to its core values.
That's why Bringin is taking it a step further by partnering with Lendasat, a platform enabling peer-to-peer Bitcoin-collateralized loans.
Don’t want to sell your BTC? Use it as collateral, borrow, and repay later.
Lendasat is a lending and borrowing platform for Bitcoiners, designed for those who want to keep control of their funds.
Lendasat isn’t just another lending platform. While it currently relies on multisig for securing collateral, as many platforms do, Lendasat is taking peer-to-peer lending a step further by integrating Discreet Log Contracts (DLCs) in the near future.
DLCs are a new form of smart contract on Bitcoin, enabling users to enter into agreements without relying on a trusted 3rd party to resolve disputes. Instead, contract outcomes are enforced cryptographically and privately, using oracles only to attest to real-world events (BTC price in this case) not to take custody or control.
Selling Bitcoin is rarely a good idea. First, every sale is a taxable event: you have to report and account for any capital gains at each selling transaction. But also, when you need cash, selling means missing out on potential future upside.
There’s no magic solution, we’re not promising to predict market tops and bottoms. However, with Lendasat, you can keep your Bitcoin and access cash instantly.
Learn more about how Lendasat’s protocol works.
It’s simple:
- Deposit your Bitcoin into a multisig wallet;
- Receive your loan in Euros directly on your Bringin vIBAN;
- Spend it using our Debit Card or transfer it via SEPA;
- Repay your loan later!
This way, you never have to sell your BTC, you avoid capital gains tax, and you still get immediate access to liquidity.
Simple, secure, and easy to use, Lendasat stands for the core principles of the Bitcoin standard: autonomy, transparency, and no third party.
No need to sell your BTC, Lendasat lets you put it to work.
Get your loan in euros instantly: create your Bringin account here.
Getting Started with Lendasat: Step-by-Step Guide
1. Join the Discord
- Join the Lendasat Discord server.
- This is where you’ll receive your invite code to access the app.
2. Choose Your Role
- Go to the #get-started channel.
- Select the “Borrower” role if you want to receive your loan in euros on Bringin.
- You’ll get: An invite code and a link to the Lendasat App
3. Create Your Lendasat Account
- Follow the app link and sign up using: your email, a password and the invite code
- Back up your seed phrase, it secures your Bitcoin-based collateral.
4. Connect Bringin to Lendasat
- If you don’t have a Bringin account, create one here.
- On Lendasat: Go to “Settings”, then “Integrations”. Enter the email address used on Bringin and click “Connect”
- Confirm the connection via the email you received from Bringin.
- Refresh the Lendasat page, you’re ready to go!
5. Apply for a Loan
- Go to “Offers” then to “Find Offer”
- Choose: The loan amount, the loan duration and click the Bringin logo to receive funds in euros
- Review available offers based on: the interest rate, loan-to-Value (LTV) ratio, etc
6. Accept an Offer
- Select an offer that suits your needs.
- Enter a Bitcoin address (preferably unused) where you’ll receive your collateral back at the end of the duration.
- A chat with the lender will open: the lender will confirm the offer. You deposit your Bitcoin collateral. The lender sends the loan.
- You’ll receive the funds in euros on your Bringin vIBAN.
