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🚩 Why does Lemon want your #BTC as a hostage?The real cost of the "first BTC-backed credit card" in Argentina.
Lemon launched what they call the first credit card backed by #Bitcoin in Argentina. The marketing screams freedom, decentralization, future. The numbers tell a different story.
🔴 The "Digital Pawn"
This isn't a traditional credit card. It's a collateral loan: you put your BTC as collateral, they assume ZERO risk. If you don't pay, they liquidate your sats on the spot.
And how much do they charge for that? A CFT that exceeds 100% TNA according to their own legal terms. In a classic brokerage collateral, with the same guarantee scheme, the rate hovers around 25% TNA.
🚩 Why does Lemon want your #BTC as a hostage?
The real cost of the "first BTC-backed credit card" in Argentina.
Lemon launched what they call the first credit card backed by #Bitcoin in Argentina. The marketing screams freedom, decentralization, future. The numbers tell a different story.
🔴 The "Digital Pawn"
This isn't a traditional credit card. It's a collateral loan: you put your BTC as collateral, they assume ZERO risk. If you don't pay, they liquidate your sats on the spot.
And how much do they charge for that? A CFT that exceeds 100% TNA according to their own legal terms. In a classic brokerage collateral, with the same guarantee scheme, the rate hovers around 25% TNA.
Lemon launched what they call the first credit card backed by #Bitcoin in Argentina. The marketing screams freedom, decentralization, future. The numbers tell a different story.
🔴 The "Digital Pawn"
This isn't a traditional credit card. It's a collateral loan: you put your BTC as collateral, they assume ZERO risk. If you don't pay, they liquidate your sats on the spot.
And how much do they charge for that? A CFT that exceeds 100% TNA according to their own legal terms. In a classic brokerage collateral, with the same guarantee scheme, the rate hovers around 25% TNA.
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