Damn... you're right. It might just be better if I put fiat in escrow and borrow. Cost of getting bitcoins is getting way too high for me.
If you deposit USD to a trustable forum escrow I will be happy to lend BTC to you.
Topic: Does fiat currency count as collateral. - page 2. (Read 2180 times)
If you deposit USD to a trustable forum escrow I will be happy to lend BTC to you.
Damn... you're right. It might just be better if I put fiat in escrow and borrow. Cost of getting bitcoins is getting way too high for me.
WU fees = death. I just calculated how much money I spent on fees to obtain BTC in the past and it is embarrassing.
How much exactly? If you trade on an exchange you will pay wire transfer and trading fee... 0.5%?
3-4 business days... is better than paying WU fees/other payment type fees and paying above market value.
IMHO i wouldn't call it best form of collateral, wire transfers are expensive and take ALOT of time.
Depends what's expensive for you. It's cheaper than WU and it takes max. 3-4 working days.
IMHO i wouldn't call it best form of collateral, wire transfers are expensive and take ALOT of time.
Good idea. Thanks for that. I'll be searching for credible exchanges then. I'm sick of paying 10%+ above market.
WU fees = death. I just calculated how much money I spent on fees to obtain BTC in the past and it is embarrassing.
Yeah... I'd recommend a simple Wire Transfer or a SEPA Transfer if you locate in Europe.
WU fees = death. I just calculated how much money I spent on fees to obtain BTC in the past and it is embarrassing.
Just ditch Western Union. They take sky-high fees. 10% I think 
Fees and other Bitcoin-acquisition costs are reasons I am considering putting up fiat for a bitcoin loan. Of course, paypal would not be used as collateral. More like bank transfers or other secure fiat transfer methods
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Yeah it would, but as long as it wasn't sent to the lender via a reversible medium like Paypal or something. If you've got the money though why don't you just buy the coins yourself?
Yes, and probably is the best collateral
I am curious if fiat like USD count as collateral on bitcointalk's lending section.
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