They are an excellent idea and really practical.

For example, lets say you are getting a $2,500 bonus at the end of the year. Yet you are going on vacation and want the money now. Presently, going to a bank is a nightmare even if you have a lot of assets. Then there is credit cards which charge you 18% interest.

With a crypto loan, you can put up your tokens, get the loan, and pay it back when you get your bonus. You can do that without crazy fees or hassles.

Plus it is a boom for speculators.