There’s a special bond between mothers and their sons. For pseudonymous Alan, a 28-year-old engineer, a Bitcoin loan helped his mom to buy a house.
Hodling onto Bitcoin over the long-term might make sense, as the P2P money created by Satoshi Nakomoto could be an investment tool or aFast forward to 2016, and the price per Bitcoin was around $753, or 600 pounds. Alan knew that it was “something worth buying,” but Alan was still a student and had his head down for exams:Alan spoke to his dad, suggesting it might be worth “investing a couple of thousand” into the orange coin. Unfortunately, his father did not invest in 2016, but Alan hodled on.
He chose Celsius, a centralized finance platform dealing with decentralized cryptocurrencies to source cash. Despite interest in other cryptocurrencies and knowledge of decentralized finance , Alan explained that using a centralized finance provider offers a “lower risk perception,” as they're backed by venture capital:
“We hear lots of great stories about clients who start businesses, build businesses, buy houses, care for others, even climb mountains by using Celsius loans.”
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