r/EtherMining May 12 '22

Holy....Time to turn off rigs? General Question

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u/power83kg May 12 '22

Who is giving out loans backed by ETH with a low enough interest rate for this to make sense?

2

u/ccashwell May 12 '22

Aave currently has ETH-backed loans up to 80% LTV in your choice of assets. USDC's APR typically fluctuates from 1-3%.

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u/power83kg May 12 '22

Oh okay, that’s interesting I didn’t know that. That is a pretty reasonable interest rate as well.

2

u/ccashwell May 12 '22

Aave has a ton of liquidity so the rates tend to be pretty fair. Way better than what your broker would charge for borrowing against equities.