A protocol for bitcoin and crypto-backed loans on your terms without middlemen
Atomic Loans is a well-known platform for DeFi and bitcoin lovers. In simple terms, Atomic Loans allows users to use their Bitcoin as a collateral to get stable coins. The platform is a non-custodial platform, which means users don’t have to send their bitcoin to some custodian, but it will get locked with native Bitcoin scripts.
The way the platform works is quite straightforward. Users just need to set their loan terms, then use a hardware wallet like Ledger to lock their Bitcoin with a script, and then withdraw stablecoins that they need. Atomic Loans is open-source and has been audited by well-known auditors like Quanstamp and ConsenSys Diligence. Atomic Loans is one of the pioneers of the no-KYC DeFi platform on the Bitcoin blockchain.