Cryptocurrency lending business. - page 2.

Oceat

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Quote from: bonker on May 22, 2019, 03:38:40 PM

Quote from: MoonCoins on January 31, 2019, 06:50:41 AM

Cryptocurrency loans emerged as an increasingly viable alternative to borrowing loans. What do you think about the cryptocurrency lending business?

https://news.bitcoin.com/genesis-capital-processed-1-1b-of-cryptocurrency-loans-in-2018/

this is also a good business to make the profit and giving the loans like with cryptocurrencies is also been profitable for because in future cryptocurrency is mostly the popular payment method and if you got lots of cryptocurrency and then it will be more valuable.

Not really good if the business owner doesn't know how to operate his business. There are certain rules for the owner after allowing someone to borrow your own money/cryptocurrency to make sure they can pay you because once they are gone you can't get back the money to lend to them. And it is not that easy to trust someone behind the internet to be honest.

bonker

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Quote from: MoonCoins on January 31, 2019, 06:50:41 AM

Cryptocurrency loans emerged as an increasingly viable alternative to borrowing loans. What do you think about the cryptocurrency lending business?

https://news.bitcoin.com/genesis-capital-processed-1-1b-of-cryptocurrency-loans-in-2018/

this is also a good business to make the profit and giving the loans like with cryptocurrencies is also been profitable for because in future cryptocurrency is mostly the popular payment method and if you got lots of cryptocurrency and then it will be more valuable.

TheUltraElite

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Quote from: Muzika on May 19, 2019, 01:54:19 AM

It is not about the value, the purpose of lender is to accumulate a profit within a short period of time and disregarding the risk that the value may lessen the only risk that I can see is that if the lendee does return the money he lends.

That is the reason of collateral backed loans. It provides some level of security for the lender even in case of default. Though it does not guarantee a return but it gives a value of the collateral once auctioned off. But in the crypto scene we have people seeking loans for gambling and trading mostly so there is a risk that every lender faces. P2P lending still needs a lot of usage or else we will have lenders but nobody to give loans to or scammers not providing collaterals at all.

Either way a lending business of such can be a part time hobby if you have time to put in.

guoyu78

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Quote from: MoonCoins on January 31, 2019, 06:50:41 AM

Cryptocurrency loans emerged as an increasingly viable alternative to borrowing loans. What do you think about the cryptocurrency lending business?

https://news.bitcoin.com/genesis-capital-processed-1-1b-of-cryptocurrency-loans-in-2018/

All that doesn’t make any sense, it is still the same thing the bank system of giving loans. If you want to take loans from banks you give collateral and that’s the same thing with cryptocurrency lending you're still going to give something in return before you get the loan (yes, you're give your crypto in exchange for money) and when you don't pay back plus the interest you're not getting your crypto back. So I don't see any difference and there is no need for me to be talking about which one is the best, I'm not the type of person that borrows money. I've never had any reason to and I don't even wish to.

Muzika

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Quote from: senin on May 15, 2019, 12:57:40 AM

Taking loans is generally very risky, especially as a loan in a cryptocurrency is a double risk. We cannot be sure of positive changes in the cryptocurrency market during the period of loan repayment. And there will be pretty tight deadlines. In general, a credit in cryptocurrency is a game of roulette, you can get lucky, or you can lose everything. I'm not ready to play that way yet.

It is not about the value, the purpose of lender is to accumulate a profit within a short period of time and disregarding the risk that the value may lessen the only risk that I can see is that if the lendee does return the money he lends.

shoreno

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Quote from: Xampeuu on May 19, 2019, 01:15:02 AM

Quote from: millgates on May 18, 2019, 08:44:28 PM

Quote from: Daniwahyu007 on May 15, 2019, 09:37:34 AM

I think about crypto loans, of course, we must be careful and think carefully because crypto prices sometimes rise and fall

Actually it provides bigger size of opprtunity for people who borrow it because those people can manage the fund to gain profit in trading. But I still hate crypto loans, lend money to others is not negative thing but if there is interest in it then it can give bad impact for the economy. Such cooperation is unhealthy. I preffer like to lend money to people who run healthy business then ask for dividen based on profit that earned by the business.

every loan I think is reasonable if there is interest. provided that the activities are clear, so that it produces, I don't think it's a problem. therefore before lending, we will be selective, it will be better

Reasonable only if the interest is apropriate to the amount that you have loaned but lending companies nowadays are becoming greedy . Ive seen alot of them where they offers a small loan but the interest is verry huge . The time frame for the repayment is also too early ,if you cant pay on the said dates you will incure more charges but this doesnt stop the willingness of people to lend because people do also want cash which makes lending a good bussines especially if done in crypto .

Xampeuu

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Quote from: millgates on May 18, 2019, 08:44:28 PM

Quote from: Daniwahyu007 on May 15, 2019, 09:37:34 AM

I think about crypto loans, of course, we must be careful and think carefully because crypto prices sometimes rise and fall

Actually it provides bigger size of opprtunity for people who borrow it because those people can manage the fund to gain profit in trading. But I still hate crypto loans, lend money to others is not negative thing but if there is interest in it then it can give bad impact for the economy. Such cooperation is unhealthy. I preffer like to lend money to people who run healthy business then ask for dividen based on profit that earned by the business.

every loan I think is reasonable if there is interest. provided that the activities are clear, so that it produces, I don't think it's a problem. therefore before lending, we will be selective, it will be better

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Quote from: Ranly123 on May 18, 2019, 10:29:57 AM

Quote from: MoonCoins on January 31, 2019, 06:50:41 AM

Cryptocurrency loans emerged as an increasingly viable alternative to borrowing loans. What do you think about the cryptocurrency lending business?

https://news.bitcoin.com/genesis-capital-processed-1-1b-of-cryptocurrency-loans-in-2018/

Crypto loans are becoming very popular nowadays but we should be cautious on to where and what are we loaning to. Risk is very high but with regards to security, I think it's also dependable.

Having operating a lending business in the crypto space, you already know and accepted the risk of losing money.
You have to do due diligence when you are lending money, just like investing in a coin of your choice because all are risky but there are ways to minimize the risk in lending, otherwise, lending industry in general would not be profitable.

millgates

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Quote from: Daniwahyu007 on May 15, 2019, 09:37:34 AM

I think about crypto loans, of course, we must be careful and think carefully because crypto prices sometimes rise and fall

Actually it provides bigger size of opprtunity for people who borrow it because those people can manage the fund to gain profit in trading. But I still hate crypto loans, lend money to others is not negative thing but if there is interest in it then it can give bad impact for the economy. Such cooperation is unhealthy. I preffer like to lend money to people who run healthy business then ask for dividen based on profit that earned by the business.

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Quote from: MoonCoins on January 31, 2019, 06:50:41 AM

Cryptocurrency loans emerged as an increasingly viable alternative to borrowing loans. What do you think about the cryptocurrency lending business?

https://news.bitcoin.com/genesis-capital-processed-1-1b-of-cryptocurrency-loans-in-2018/

Crypto loans are becoming very popular nowadays but we should be cautious on to where and what are we loaning to. Risk is very high but with regards to security, I think it's also dependable.

Cherylstar86

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Quote from: zee11225 on May 18, 2019, 02:33:05 AM

Quote from: senin on May 15, 2019, 12:57:40 AM

Taking loans is generally very risky, especially as a loan in a cryptocurrency is a double risk. We cannot be sure of positive changes in the cryptocurrency market during the period of loan repayment. And there will be pretty tight deadlines. In general, a credit in cryptocurrency is a game of roulette, you can get lucky, or you can lose everything. I'm not ready to play that way yet.

I think it is possible to borrow crypto money as long as there are clear rules, because something on the internet and anonymously certainly requires special regulations, different from paper money where there are items and can be tracked for use.
In addition, very fast crypto price fluctuations also provide additional risks that can generate more debt or even less debt, depending on crypto prices at the time of repayment.

A huge possible indeed, as time runs by there is no doubt that in the near future crytpo will open its method to lend accommodately. But I think it should have limit and liable platform to track down all accounts who installed cryptocurrency in appropriable way. Believing with positive determination, in the near future it will exceed bountifully.

Botnake

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Quote from: Daniwahyu007 on May 15, 2019, 09:37:34 AM

I think about crypto loans, of course, we must be careful and think carefully because crypto prices sometimes rise and fall

Price is irrelevant if you are a lender, you are in the crypto space so you know the nature of the market, price is volatile.
A lender as long as it can increase their assets through lending would be happy to continue the business as the fact that they are here, they believe on the long term journey of crypto.

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Quote from: bitgolden on May 16, 2019, 01:40:49 AM

Quote from: senin on May 15, 2019, 12:57:40 AM

Taking loans is generally very risky, especially as a loan in a cryptocurrency is a double risk. We cannot be sure of positive changes in the cryptocurrency market during the period of loan repayment. And there will be pretty tight deadlines. In general, a credit in cryptocurrency is a game of roulette, you can get lucky, or you can lose everything. I'm not ready to play that way yet.

Personally for me, I am typically against any thing that has to do with loan, because I see it as an enemy of progress or something that would make me sell my right. No matter what the situation is, provided it is not a matter of life and death, one will definitely survive it without loan

In general, I don't like loans either

On the other hand, there are different types of loans. As an illustrative example, when you are trading on margin, you essentially borrow funds as well and pay interest on these funds (which can be expensive). Indeed, you can survive without it, but if you are using margin trading to maximize your profit potential (and it works for you) or just for hedging (which should always work), I don't see it as inherently wrong or evil. So how are things particularly different with bank loans provided you know what you are doing?

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Quote from: senin on May 15, 2019, 12:57:40 AM

Taking loans is generally very risky, especially as a loan in a cryptocurrency is a double risk. We cannot be sure of positive changes in the cryptocurrency market during the period of loan repayment. And there will be pretty tight deadlines. In general, a credit in cryptocurrency is a game of roulette, you can get lucky, or you can lose everything. I'm not ready to play that way yet.

I think it is possible to borrow crypto money as long as there are clear rules, because something on the internet and anonymously certainly requires special regulations, different from paper money where there are items and can be tracked for use.
In addition, very fast crypto price fluctuations also provide additional risks that can generate more debt or even less debt, depending on crypto prices at the time of repayment.

Adriano2010

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Everyone do what they can to make some money, i think that who want can take a loan because maybe the coins they have will grow and not want to sell it for low and this is main reason they take a loan.

bitgolden

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Quote from: senin on May 15, 2019, 12:57:40 AM

Taking loans is generally very risky, especially as a loan in a cryptocurrency is a double risk. We cannot be sure of positive changes in the cryptocurrency market during the period of loan repayment. And there will be pretty tight deadlines. In general, a credit in cryptocurrency is a game of roulette, you can get lucky, or you can lose everything. I'm not ready to play that way yet.

Personally for me, I am typically against any thing that has to do with loan, because I see it as an enemy of progress or something that would make me sell my right. No matter what the situation is, provided it is not a matter of life and death, one will definitely survive it without loan.

I am not against loan business, at least it is a good thing that they are able to create a business out of it still using cryptocurrency, but in this volatile market that one can really not predict, it is quite risky to gamble with one’s future investment, because I believe that no crypto loaner will wait till future when the market becomes good for him to get his loan back.

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Quote from: Ayiranorea on May 15, 2019, 12:58:46 PM

Quote from: senin on May 15, 2019, 12:57:40 AM

Taking loans is generally very risky, especially as a loan in a cryptocurrency is a double risk. We cannot be sure of positive changes in the cryptocurrency market during the period of loan repayment. And there will be pretty tight deadlines. In general, a credit in cryptocurrency is a game of roulette, you can get lucky, or you can lose everything. I'm not ready to play that way yet.

With lending the user who lends the fund makes the respective terms and conditions as well the collateral for the loan amount. In most of the case funds were provided in terms of bitcoin or some highly valued altcoins. Further specific ROI is added periodically for the amount. This way there is no big risk when you get loan from trusted lenders with some escrow.

by limiting it to the top coin coins, it does make this activity minimal risk. but also we as borrowers must be observant of market conditions. besides that borrowing for productive activities is highly recommended

uneng

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Quote from: xvids on March 12, 2019, 09:25:44 AM

I don't think that it would be a good business,
First people are greedy specially in crypto currency people would just scam you,
They could send some fake proofs like fake ID just to get the loan so becareful.

Then there must be a platform to close the deal. This way there will be some guarantee for the lender (although it's not totally warranted). As I saw in the past, the borrower should show a collateral before borrowing the money. This collateral could be an amount of altcoins in balance.
In case of not paying the lender back, this collateral would be removed from the borrower's account and sent to the lender's account. Poloniex platform is an example: https://poloniex.freshdesk.com/support/solutions/articles/1000274348-lending-explained

Ayiranorea

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Quote from: senin on May 15, 2019, 12:57:40 AM

Taking loans is generally very risky, especially as a loan in a cryptocurrency is a double risk. We cannot be sure of positive changes in the cryptocurrency market during the period of loan repayment. And there will be pretty tight deadlines. In general, a credit in cryptocurrency is a game of roulette, you can get lucky, or you can lose everything. I'm not ready to play that way yet.

With lending the user who lends the fund makes the respective terms and conditions as well the collateral for the loan amount. In most of the case funds were provided in terms of bitcoin or some highly valued altcoins. Further specific ROI is added periodically for the amount. This way there is no big risk when you get loan from trusted lenders with some escrow.

Daniwahyu007

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I think about crypto loans, of course, we must be careful and think carefully because crypto prices sometimes rise and fall

Topic: Cryptocurrency lending business. - page 2. (Read 1168 times)