BTCBacked

Swiss marketplace for non-custodial Bitcoin-backed loans. Borrow without selling. Lend against collateral you can verify. Zug, VQF member #101306. 🇨🇭

[BTCBacked @BTCBacked_]

@Tangem @LuganoPlanB See you there, neighbours. We’re sharing room 109 at Villa Ciani.

[BTCBacked @BTCBacked_]

@CorySwan Same principle on every BTCBacked loan: 2-of-3, one key each for borrower, lender and us. No single party can move the collateral alone.

[BTCBacked @BTCBacked_]

App Store: https://t.co/Ddrtw8ZgBK
Google Play: https://t.co/1d0BUWjILD
Web app: https://t.co/Sg6xKex1qo

[BTCBacked @BTCBacked_]

The BTCBacked app is now live on the App Store and Google Play.

Borrow or lend from your phone. Your key comes from a password in the app or your own hardware wallet.

Available in Switzerland and selected countries. Prefer the web? Sign up in your browser.

[BTCBacked @BTCBacked_]

@bitcoinbhosle Exactly right. Keep the recovery file as well as the password. If BTCBacked is unreachable, you and the lender co-sign: two of three keys.

[BTCBacked @BTCBacked_]

Every loan on BTCBacked has three keys. You hold one.

Create yours from a password in the app, or use your own hardware wallet. Either way, we never see your password, private key or recovery words.

How to choose:

[BTCBacked @BTCBacked_]

@Bettingonalpha @LuganoPlanB Yes, room 109 on the first floor of Villa Ciani, both days. Come say hi.

[BTCBacked @BTCBacked_]

One week to Plan ₿ Forum. @LuganoPlanB

This is what to look for on the first floor of Villa Ciani, 23 and 24 October:
Never sell. Borrow against your Bitcoin, with your key on your own hardware wallet and no custodian.

Bring your questions. Leave the Bitcoin where it is.

[Lugano Plan ₿ @LuganoPlanB]

Two days of Bitcoin, P2P, and local AI don’t happen without the people who back them. Thank you to every sponsor of the Plan ₿ Forum.

Lugano, October 23-24.

[BTCBacked @BTCBacked_]

@unchained Same for loan collateral. 2-of-3, with the borrower’s key on their own hardware wallet. No single party moves it alone.

[BTCBacked @BTCBacked_]

@MDBitcoin Same line applies when you borrow. Either your bitcoin sits in an address you can check, with a key you hold, or you’re holding a promise.

[BTCBacked @BTCBacked_]

https://t.co/NkhU5MEDFP

[BTCBacked @BTCBacked_]

@KeystoneWallet Same goes for loan collateral. Every key holder should see exactly what they’re approving, on their own device.

[BTCBacked @BTCBacked_]

@stephanlivera @coinjoined Agreed. With 2-of-3 multisig, one bad device can’t move the coins on its own.

[BTCBacked @BTCBacked_]

@River Different causes, same lesson: don’t let one backup or one company be the only thing between you and your coins.

[BTCBacked @BTCBacked_]

@lopp Same with loan collateral. The question isn’t whether a third party is involved. It’s whether any single party can move the coins alone.

[BTCBacked @BTCBacked_]

@SimplyBitcoin Even more so when your bitcoin backs a loan. That’s exactly when you want no single party able to move it alone.

[BTCBacked @BTCBacked_]

https://t.co/81tnSbyy6H

[BTCBacked @BTCBacked_]

@2ToneShawn Good topic. One thing that catches people out with multisig: two seeds are enough to sign a 2-of-3, but not to find the wallet. You also need the third key's public key, so back up the wallet descriptor alongside the seeds.

[BTCBacked @BTCBacked_]

@BitcoinMagazine Good to see a bank lending against bitcoin. The questions we'd ask as a borrower: is the collateral in a wallet you can check on-chain, and can it be lent out again while the loan runs?