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Maker
📌
Hey
I'm thrilled to introduce Bredit : Bitcoin on Credit.Most people who want to own Bitcoin face two problems: they either don't have the lump sum to buy it outright, or they're terrified of buying at the top and getting wrecked. We built Bredit so neither of those has to be a blocker.
Here's how it works:
- Pick how much BTC you want to own
- Choose your tenure and down payment
- Pay it off in monthly EMIs, your BTC is locked in at today's price
Two things that make us different:
- No-liquidation: A separate Security Fee covers you, so a wick down doesn't wipe out your position the way it does on margin platforms.
- Transparent pricing. Interest and Security Fee are billed separately - you see exactly what you're paying for the credit vs. the protection.
We just closed our first institutional buyer - Jetking is using Bredit to acquire 10 BTC, which is a huge validation that this model works for serious accumulators, not just retail.
Stack sats without timing the market. Would love your feedback, questions, and roasts in the comments 🚀
— Team SwapSo(Company Behind Bredit)
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Hey Karan,
How are you managing the liquidity? Are you planning to be backed by any banks?
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Maker
@sahil_sheoran1 So we are bringing liquidity from liquidity partners in terms of stablecoins. We are not partnering with banks because regulations in every country are very difficult, and going the traditional banking route will be difficult to execute in the current scenario.
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@krngill Got it! Well, all the best. Hope to see you in California soon
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is it only for institutions or also available for retail users?
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Maker
@omkar_jadhav21 Yes, this is available for both institutions and retail. We actually started with retail only and got around 18 people in our waitlist to have Bitcoin on credit.
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Most Indian crypto users still keep their Bitcoin on centralized exchanges because self-custody feels too complex. How is SwapSo simplifying self-custody for first-time users without compromising on security?
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Maker
@uttam_jangid1 So in SwapSo Wallet, we have both use cases.
We have a custodied user flow where the user logs in with their mobile number or email, associated with their private key. In that case, we do hold private keys and store them with encryption on our servers. That is also completely secure, but that is not recommended. That user flow is only for people who are new to this space, so they can get a glimpse of what it looks like to be a self-custody wallet, with some ease of use.
Then we have a complete self-custody mode where we do not custody any private keys. You just log in with your private keys, so you are the sole owner of your private keys, and you need to manage them properly.
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love the concept, and happy to support fellow Malaysians in the industry!!
What I’d love to catch up on is a Google Meet to discuss possible synergies. Bredit is a dApp in itself. Currently, it’s in closed beta, but it will be available on API, so any app like Swapso can integrate them in their app also.
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@krngill sounds good! You can find me on socials, looking forward to it :)
Hey Karan,
How are you managing the liquidity? Are you planning to be backed by any banks?
@sahil_sheoran1 So we are bringing liquidity from liquidity partners in terms of stablecoins. We are not partnering with banks because regulations in every country are very difficult, and going the traditional banking route will be difficult to execute in the current scenario.
@krngill Got it! Well, all the best. Hope to see you in California soon
is it only for institutions or also available for retail users?
@omkar_jadhav21 Yes, this is available for both institutions and retail. We actually started with retail only and got around 18 people in our waitlist to have Bitcoin on credit.
@uttam_jangid1 So in SwapSo Wallet, we have both use cases.
We have a custodied user flow where the user logs in with their mobile number or email, associated with their private key. In that case, we do hold private keys and store them with encryption on our servers. That is also completely secure, but that is not recommended. That user flow is only for people who are new to this space, so they can get a glimpse of what it looks like to be a self-custody wallet, with some ease of use.
Then we have a complete self-custody mode where we do not custody any private keys. You just log in with your private keys, so you are the sole owner of your private keys, and you need to manage them properly.
love the concept, and happy to support fellow Malaysians in the industry!!
Is Bredit a dapp by itself or is it on Swapso?
@je_yue_yip1
Thanks for your support, man.
What I’d love to catch up on is a Google Meet to discuss possible synergies. Bredit is a dApp in itself. Currently, it’s in closed beta, but it will be available on API, so any app like Swapso can integrate them in their app also.
@krngill sounds good! You can find me on socials, looking forward to it :)