Can I really pay bills without spending my Bitcoin?
Yes. The strategy is "Buy, Borrow, Die" - a tactic the wealthy have used with real estate and stocks for decades. Instead of selling your hard asset (Bitcoin) and triggering a tax event plus losing future appreciation, you use it as collateral. You lock your BTC in a smart contract and borrow USDC (a stablecoin pegged to the dollar). You then use that USDC to pay your rent, groceries, or utilities. Your Bitcoin stays yours; it just sits in a vault until you repay the loan.
What are the actual costs and interest rates?
Traditional banks charge 10–25% on personal loans or credit cards. Most crypto lenders aren't much better, hovering around 8–12%. Because Ready operates onchain with no middlemen and high efficiency, borrowing costs can be as low as ~1.6% APR. There are no origination fees and no credit checks. You are borrowing from a protocol (Vesu), not a bank manager. If your Bitcoin appreciates by just 2% in a year, you have effectively paid your bills for "free" while your net worth increased.
How do I physically pay the electric bill with crypto?
You don't need to convince your utility company to accept magic internet money. Once you borrow USDC against your Bitcoin inside the Ready app, you have two options:
- The Ready Card: The borrowed USDC is immediately availble to spend. It works exactly like a bank debit card. Swipe it at the grocery store or enter the numbers online to pay your bill.
- Off-ramp: If you need cash you can withdraw via an ATM in your local currency.
What happens if Bitcoin's price drops?
This is the only risk you must manage. This is called "liquidation risk." If the value of your Bitcoin collateral falls significantly, the protocol may sell a portion of it to ensure the loan is covered. To avoid this, you simply keep a healthy Loan-to-Value (LTV) ratio. For example, if you have $10,000 in BTC, don't borrow more than $2,000-$3,000. This gives you a safety buffer to ride out market volatility without losing your sats.
Ready in Action: The "Never Sell" Rent Payment
The Scenario: Alex holds 1.5 BTC. He needs $2,500 for rent and car repairs but refuses to sell because he believes BTC is going to $150k.
The Action:
- Alex bridges 0.5 BTC to his Ready vault on Starknet.
- He borrows 2,500 USDC against it (a conservative ~5-10% LTV).
- Interest Rate: ~1.6%.
- He spends the USDC via his Ready Card.
The Outcome:
Six months later, BTC rallies 20%. Alex's 0.5 BTC collateral is now worth significantly more. He pays back the $2,500 (+ interest). He still owns the 0.5 BTC, which has gained thousands in value - far outweighing the low interest cost. He paid his bills, kept his coins, and beat the bank.
Key Takeaway
- Don't Sell: Borrowing against your Bitcoin at <2% allows you to cover life expenses without exiting your position or triggering taxes.
Stop selling your future. Download Ready and become your own back today.
