How to start borrowing at NFTfi?
June 19, 2023 ・ 2 min read
Below, you can find video tutorials on how to start borrowing on NFTfi, using your NFTs as collateral to secure wETH, DAI, or USDC loans from lenders. As NFTfi operates on a peer-to-peer (P2P) basis, you always maintain complete control over your loans. Importantly, there are no auto-liquidations on NFTfi! To learn more about how NFTfi works, click here.
This borrowing guide is made using Ethereum testnet. Testnet is used for testing purposes only, the tokens have no monetary value, but testnet works the same as the mainnet.
Please make sure that you have connected your Metamask and are on the Ethereum Mainnet network before you start using NFTfi.
1. Connecting your wallet
2. Listing your NFT
3. Accepting a loan offer
4. Repaying the loan
Should you default on your loan, the lender retains the right to foreclose on the loan, subsequently claiming the NFT you've put up as collateral.
To find even more information, check our FAQ section.
This article is for educational and informational purposes only and should not be considered financial advice. Conduct your own research and due diligence before making any investment or financial decisions, such as when considering novel products including NFT loans.
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