You can gain pretty much from lending lending BTC. But if you are not careful you can also lost all your money. Bitcoin give people some sort of anonymity therefore scam attempts while lending money are normal.
You need to create for yourself set of rules and always play by the book. Never lend btc without proper collateral, even if someone is trusted. Also you may want to have limit on how much BTC you can lend.
Topic: Bitcoin Loaning - Is it worth it? - page 4. (Read 3469 times)
Hi,
So something I've been thinking about is lending Bitcoin. For me to conduct trades over Bitcoin Talk, I usually ask the other party pays first (which usually means the trades fall through).
So something I've been thinking about is lending Bitcoin. For me to conduct trades over Bitcoin Talk, I usually ask the other party pays first (which usually means the trades fall through).
- Is it actually profitable?
- Will I get scammed to death?
if you use the right precautions to me it is a profittabile deal, first rule of lending, NO collateral, no loan, if you do this your % of lost your money is less
Hi,
So something I've been thinking about is lending Bitcoin. For me to conduct trades over Bitcoin Talk, I usually ask the other party pays first (which usually means the trades fall through).
Is it profitable? Yeah if you could find trusted loaners which is hard these days.So something I've been thinking about is lending Bitcoin. For me to conduct trades over Bitcoin Talk, I usually ask the other party pays first (which usually means the trades fall through).
- Is it actually profitable?
- Will I get scammed to death?
Will you get scammed? Now isn't the right time to loan your money to someone else i think, too much scammers roam around bitcointalk atm. But, if you do it right you could get a stable income which is great.
If there is a chance of you being scammed then you will surly be scammed. Only ever loan Bitcoin if you can get a trusted 3rd party to hold collateral at 110%-120% of the value of the loan, which will at least cover you when they default. I doubt it is very profitable in all honesty.
Ah okay, thanks. But what really is collateral? If someone says they'll give a domain name for example, how do I know that really is worth more than the loan?
If there is a chance of you being scammed then you will surly be scammed. Only ever loan Bitcoin if you can get a trusted 3rd party to hold collateral at 110%-120% of the value of the loan, which will at least cover you when they default. I doubt it is very profitable in all honesty.
Hi,
So something I've been thinking about is lending Bitcoin. For me to conduct trades over Bitcoin Talk, I usually ask the other party pays first (which usually means the trades fall through).
So something I've been thinking about is lending Bitcoin. For me to conduct trades over Bitcoin Talk, I usually ask the other party pays first (which usually means the trades fall through).
- Is it actually profitable?
- Will I get scammed to death?
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