Cryptocurrency lending business. - page 8.

drumamat

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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/

Cryptocurrency loans are the future. But at this stage I would prefer a loan in some kind of stablecoin.Think for yourself, today I can take a loan in the ethereum for the price of $ 100 and tomorrow, if its price becomes $ 500, I will have to incur heavy losses.Yes, the opposite situation is also possible, but when it comes to a loan, you need to consider the worst option.

maksimukr1989

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Honestly, if I had my own company, I would never take credit in cryptocurrency for anything in life.Due to the high volatility, you can give all the income for loan coverage. To put it mildly, it is not serious.

necromastery

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Quote from: alonelyorange on February 03, 2019, 10:13:54 PM

Using cryptocurrency for loan its not good ideas, how ever bitcoin and altcoin have speculative price where some time could be on higher but some time could be lower, will be not profitable if you trying make cryptocurrency as lending business.

Because of that, lender require collateral amount more than loan amount. Whenever the price down to the certain number, lender will automatic selling the collateral at the best price. I see that's the best solution to overcome the lender losses in Crypto. Surely lender have to see that altcoin (collateral) price on the market every day.

deisik

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Quote from: Dobriy 4el on February 04, 2019, 10:53:11 AM

Cryptocurrency lending is a good offer, but it is not yet widespread due to several drawbacks: high volatility of the cryptocurrencies; too little acceptance worldwide (not everywhere accepting the cryptocurrency for payment);
but with the big spread of cryptocurrency, it will really be very good, because the banking sector is now strangling people with its loans!

Even if all these issues get sorted out, it won't make Bitcoin loans more feasible

Lending money assumes you provide collateral for the loan, i.e. you enter an agreement with the lender (for example, a bank). So if you fail to return the loan, you may legitimately lose this collateral, which means its forfeiture should be enforced somehow (read, your property can be taken by force from you without your consent). But how are you going to do this stuff with cryptocurrencies unless there is some legal entity lending you coins officially, which means full legal recognition of cryptocurrencies? We are far from that

CaVO32

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actually, there was a hype last year regarding this crypto lending business. everyone wanted to launch a lending business here. but to find out, most of them have loopholes within the system. the dev teams are the ones gaining from their platform. or most of them ended up as scammers and crap. so i am not really convince with this strategy, unless the team behind is really trustworthy.

audaciousbeing

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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/

Except a borrower would complete the entire process for which the loan is needed in crypto currency and would equally get contributions in crypto in other to make profit sustainable to pay back the loan and its accruing interest, it really does not worth it at moment. But if some conditions are included in the loan agreement to hedge against all of the fluctuations that are likely to arise in between the days of collection and repayment, then its something to be considered.

Dobriy 4el

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Cryptocurrency lending is a good offer, but it is not yet widespread due to several drawbacks: high volatility of the cryptocurrencies; too little acceptance worldwide (not everywhere accepting the cryptocurrency for payment);
but with the big spread of cryptocurrency, it will really be very good, because the banking sector is now strangling people with its loans!
and various microloans are even worse and there is a chance of getting people to take money!
Blockchain technology should remove all the negative aspects of lending and helping people!

akihikohideaki

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FABA

In my opinion, the Cryptocurrency lending business is legitimate as long as it does not endanger each other, there is no limit to this. If the loan aims to fund business operations, of course the borrower has calculated profits and losses.

The purpose of the company to get a loan is one way, this is also done by many companies in the world as a step for them to get business capital. Because not all capital for business can be fulfilled by the company itself

deisik

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Quote from: Snaic on February 03, 2019, 10:27:58 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/

Cryptocurrency cash management is very risky for both parties. After all, cryptocurrency has a very high price volatility. I do not think that state banks will do this. For them it will be too risky. Commercial banks may try to issue loans in cryptocurrency. However, I do not even want to predict what will come of it. This will more resemble a roulette game. Here, someone will definitely lose, and someone will win by changing the rate of cryptocurrency. This kind of activity is definitely not for banks that love accurate profit calculation

I suspect we shouldn't really expect cryptocurrency loans in the near or not so near future

I mean as a mass phenomenon (other than rare events). Without volatility being on par with best fiat currencies (and that being so for months or even years) followed by mass adoption, there is little chance for such loans to make into mainstream. It simply doesn't make sense. For example, if Bitcoin rises a couple times, it maybe profitable for the borrower to default on his loan as with borrowed bitcoins he might be able to buy twice as much collateral as he provided for the loan. But providing 200% of collateral doesn't make sense either

bangkit tri

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Quote from: alonelyorange on February 03, 2019, 10:13:54 PM

Using cryptocurrency for loan its not good ideas, how ever bitcoin and altcoin have speculative price where some time could be on higher but some time could be lower, will be not profitable if you trying make cryptocurrency as lending business.

I think a business certainly has risks, so we must be careful in calculating it. but I think if everything is calculated using crypto does not become a problem to run the business

Snaic

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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/

Cryptocurrency cash management is very risky for both parties. After all, cryptocurrency has a very high price volatility. I do not think that state banks will do this. For them it will be too risky. Commercial banks may try to issue loans in cryptocurrency. However, I do not even want to predict what will come of it. This will more resemble a roulette game. Here, someone will definitely lose, and someone will win by changing the rate of cryptocurrency. This kind of activity is definitely not for banks that love accurate profit calculation.

alonelyorange

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Using cryptocurrency for loan its not good ideas, how ever bitcoin and altcoin have speculative price where some time could be on higher but some time could be lower, will be not profitable if you trying make cryptocurrency as lending business.

mapanlah

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Quote from: SaepulMT on January 31, 2019, 02:38:28 PM

I think this has been discussed a while ago, but my opinion about Bitcoin loans is quite interesting, because there will be many people who are helped by this Bitcoin loan.Because this is a new thing, of course many people don't know this yet, but with time, borrowing Bitcoin will be popular in the community

actually loan money is the business of the bank, and the government has arranged loan terms, so if bitcoin wants a loan feature or service, the best way is to support each other or work with the bank. and bitcoin is a currency so its function is to make buying and selling transactions.

Burogh

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COVIR.IO

Quote from: shesheboy on February 03, 2019, 05:41:50 AM

Quote from: fauzan Ichsan on February 03, 2019, 01:25:09 AM

Quote from: Jesabela04 on February 02, 2019, 11:36:47 AM

I have heard of it and it has been roaming around the forum for months. As for me, it is a convenient way to invest yet a risky type of a decision that we could make because we don't know when we are getting a good profit here now that the market is currently down.

it seems that it is the nature of cryptocurrency, which has a big risk but also gives great rewards. but if we already understand this business, the risk can actually be reduced

What business are you talking about ? The title says lending business which means we are talking about lending here and not crypto investing .

Crypto lending or lending in general is a good business because it is indemand as people are always seeking for cash whether it is for emergency or for personal spendings .

you just gotta know the correct people that you will offer this service because many are also looking to scam .

If crypto lending bussiness, there should be need regulator. We know that internet is like a jungle and identity can be anonymous. Every loan must be need collateral and need authorities to approve that collateral. I am prefer think crypto as commodity because its a digital asset

Chikitita2004

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I have seen some projects about cryptocurrency lending held ICOs last year and even in 2017, I haven't heard anymore about them after their ICO if they been successful in this matter. Since we are now going forward and becoming more and more into cryptocurrency, I believe cryptocurrency lending is also a good and on time business.

Reid

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Nah. Never a successful one.
Many ICOs I have seen which have the same industry and yet they fell short as always. I dont say they are dead but it is more of a non active company anymore.

People would rather go with the banks than do this kind of loan which is riskier. Same goes for the company who will do it.
Information leakage might also happen since they will have all of your identification cards. Dont want that while your in crypto right?

pat4cryptoreal

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Cryptocurrency lending business sounds possible in theory but in reality the possibility of you succeeding in it is very thin. The fluctuation in price can really affect it success.

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

I still do not understand how they manage it to look like its crypto lending whereas they still count it at 1.1 billion dollars. I mean either its a bitcoin amount or its dollar amount what are they really lending. If they are not lending dollars why calculate it at 1.1 billion dollars instead of the bitcoin amount.

Also, this is not really "lending" considering these are not loans, loans are stuff you get to buy a house , get a car, pay debts and whatever, this is just margin lending which people use to buy or sell on a position during trading and then pay it back to them, there is a legal tender in place and if you are using their system and borrow money they have all the info about you possible and you are responsible to pay them back which is exactly like fiat lending.

shesheboy

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Quote from: fauzan Ichsan on February 03, 2019, 01:25:09 AM

Quote from: Jesabela04 on February 02, 2019, 11:36:47 AM

I have heard of it and it has been roaming around the forum for months. As for me, it is a convenient way to invest yet a risky type of a decision that we could make because we don't know when we are getting a good profit here now that the market is currently down.

it seems that it is the nature of cryptocurrency, which has a big risk but also gives great rewards. but if we already understand this business, the risk can actually be reduced

What business are you talking about ? The title says lending business which means we are talking about lending here and not crypto investing .

Crypto lending or lending in general is a good business because it is indemand as people are always seeking for cash whether it is for emergency or for personal spendings .

you just gotta know the correct people that you will offer this service because many are also looking to scam .

Dodoymabs

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To think, Crypto lending could be an option because our generation today focuses more on fast transaction. Due to the growing community, people always seek for the betterment and probably we can heard some are doing this thing. It maybe risky but I think this is something that we should also be curious to see it's development.

Topic: Cryptocurrency lending business. - page 8. (Read 1168 times)