Earning Interest with Bitcoin? - page 2.

Kupid002

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Quote from: smyslov on January 02, 2020, 07:46:40 PM

Quote from: jerry0 on October 11, 2019, 02:52:20 PM

Is this possible? Example you lend bitcoin to something similar to like a bank and they give you interest on it? Like how now they give you 2% interest?

I heard binance is doing something similar like that but it was like 10%?

Too risky in my opinion if they offer a very high interest, then it could fall into something like an HYIP, and there's also a risk of the site running away with your Bitcoin, we have a lending section here you can offer to lend people but only trusted people with collateral, your Bitcoin will grow so why give it to others just kept it in your wallet.

And another thing is what if the value of bitcoin decrease so what will happen to your money it will also decrease its value. He can use fiat instead bitcoin if you want he want to lend money. If he is prefer to lose the value of what he want to lend then he can continue.

potatopower

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Well, there are good sites doing it, but I personally don't think you could ever trust a site like this for their bitcoins, and all because if you're in a place where you're thinking about earning interest from bitcoins, it's a pretty big amount so you should be careful, who knows when they're taking your money and shutting down the site... I believe that you can make enough money out of just holding bitcoin. You have to be very careful with your coins.

smyslov

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Quote from: jerry0 on October 11, 2019, 02:52:20 PM

Is this possible? Example you lend bitcoin to something similar to like a bank and they give you interest on it? Like how now they give you 2% interest?

I heard binance is doing something similar like that but it was like 10%?

Too risky in my opinion if they offer a very high interest, then it could fall into something like an HYIP, and there's also a risk of the site running away with your Bitcoin, we have a lending section here you can offer to lend people but only trusted people with collateral, your Bitcoin will grow so why give it to others just kept it in your wallet.

akirasendo17

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I think thats a risky move on your side, wjy not buy bitcoin in a lower price, then sold when the price go up, less stress and you dont have to think of something, also you can het your money when you want to with no hassle

btccashacc

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I remember there was a lending platform here a few years ago, but it didn't work well, many customers didn't pay. I don't recommend a platform like this, even though the collateral is an ID, I don't think it's strong enough, for example when they don't pay and run away, it's very hard to find them especially if they live in parts of the world far from where you live and of course it will cost you more than you lose. I highly don't recommend this method, because it's too risky.

greatr

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In cryptocurrency, there are no banks, including bitcoin banks. But when you lend some of your cryptocurrency they will gain some interest, what you said about binance is right. Binance isn't the only one I know that I've seen yobit do that they also have this investment box where you've put your sum of coins with corresponding interest on a daily, weekly or monthly basis. If you're not so sure about doing some trading then try to lend your coins and tokens for a fee, although they will give you little benefit, but as long as you earn it's a win.

Yamifoud

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Quote from: StephenieDuong on January 02, 2020, 06:18:26 AM

It is possible to earn interest when holding bitcoin. I'm holding bitcoin on Gate exchange and put my bitcoin for lending. The interest might be low, but this is a good way to earn more bitcoin for just holding. Some other exchange also have this option, you can check out Binance and polo. Grin

Some exchanges offer such interest when you put you bitcoin or altcoins but not all exchanges have this.

https://coinsutra.com/earn-interest-bitcoin-crypto/ Here we can see a list of exchanges that offering such thing and quite to see that some reputable exchanges never did it. But doing this is still a big risk cause anytime you could possibly lose your coin especially when that certain exchange will be hacked. I know that worth of money but I don't think that was a good idea to put our Bitcoin to the exchanges for a week or more.

Cimmy_revenger

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Quote from: jerry0 on October 11, 2019, 02:52:20 PM

Is this possible? Example you lend bitcoin to something similar to like a bank and they give you interest on it? Like how now they give you 2% interest?

I heard binance is doing something similar like that but it was like 10%?

Where you know this information if binance have program lend 10% ?
Can you give link URL news ?
I'am not believe if binance doing that.

sulendra12

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Quote from: jerry0 on October 11, 2019, 02:52:20 PM

Is this possible? Example you lend bitcoin to something similar to like a bank and they give you interest on it? Like how now they give you 2% interest?

Bitcoin and banks are never gonna have good relationship between them. Banks are against Bitcoin because of its fluctuation and could make banks work awful compared to Bitcoin, so they are against it(except for Blockchain technology)

Quote from: jerry0 on October 11, 2019, 02:52:20 PM

I heard binance is doing something similar like that but it was like 10%?

Binance is not a bank tho.

Lauren Smith

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Quote from: bobitza on January 02, 2020, 02:58:26 AM

Quote from: jerry0 on October 11, 2019, 02:52:20 PM

Is this possible? Example you lend bitcoin to something similar to like a bank and they give you interest on it? Like how now they give you 2% interest?

I heard binance is doing something similar like that but it was like 10%?

Yes this can happen! You can make a profit from Bitcoin. For example, you buy into a Bitcoin for $ 200 after a while you sell about $ 400. So you have 100% profit compared to the initial capital. If you lend for interest I think this is less likely. Bitcoin is different from borrowing money in a bank. Bank interest rates are very low and bitcoin makes very high profits.

Thats not interest. You will still have 1btc it will just be worth more. Interest will grow the bitcoin itself. The only safe way is staking. I feel if you dont control your privatekey its not safe. You can lose everything all at once.

StephenieDuong

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It is possible to earn interest when holding bitcoin. I'm holding bitcoin on Gate exchange and put my bitcoin for lending. The interest might be low, but this is a good way to earn more bitcoin for just holding. Some other exchange also have this option, you can check out Binance and polo. Grin

bangjoe

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Quote from: qomariah95 on January 01, 2020, 08:37:42 AM

That is more precisely staking. But in the binance that I know is not for Bitcoin that gets interest when holding crypto in question. But some of the top coins can do or participate in the staking program.

Until then the staking program had 15 coins, I mentioned below:
KAVA, Tezos, ATOM, TRON, Algorand, ONE, Fetch.ai, Stratis, QTUM, Komodo, Vechain, Ontology, NEO, Elrond, Stellar

binance has a separate event with two btc lending options with a profit of 0.25%, and 3% (already completed). Not using altcoin as you mean, I myself haven't tried it yet because limited events fill up very quickly. If I'm not mistaken, in poloniex there is also a lending option under 1% with a shorter duration, for this one I am still analyzing it.

bobitza

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Quote from: jerry0 on October 11, 2019, 02:52:20 PM

Is this possible? Example you lend bitcoin to something similar to like a bank and they give you interest on it? Like how now they give you 2% interest?

I heard binance is doing something similar like that but it was like 10%?

Yes this can happen! You can make a profit from Bitcoin. For example, you buy into a Bitcoin for $ 200 after a while you sell about $ 400. So you have 100% profit compared to the initial capital. If you lend for interest I think this is less likely. Bitcoin is different from borrowing money in a bank. Bank interest rates are very low and bitcoin makes very high profits.

qomariah95

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That is more precisely staking. But in the binance that I know is not for Bitcoin that gets interest when holding crypto in question. But some of the top coins can do or participate in the staking program.

Until then the staking program had 15 coins, I mentioned below:
KAVA, Tezos, ATOM, TRON, Algorand, ONE, Fetch.ai, Stratis, QTUM, Komodo, Vechain, Ontology, NEO, Elrond, Stellar

marcous

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Not only Binance, but there have been many previous blockchain projects that offer systems like this. But the development is not clear.
and if we entrust to store assets in an exchanger with the aim of earning interest it will riskier I guess.

CodyAlfaridzi

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Quote from: robelneo on December 31, 2019, 10:15:34 PM

It's more like an HYIP I don't prefer that I prefer holding my Bitcoin because it will just grow on its own, many have invested on programs that promises a return of investment for a period of time and that's a Ponzi scheme or HYIP, and experts are warning people not to go for it, just keep your wallet safe and you are ok.

Well if the rates are reasonable and backed with solid business then it's not HYIP. HY in HYIP stands for "high yield". The reasonable yearly rate for these investments should be around 8%-15%. For example Binance lending section. While I haven't read more about how they use the money (probably for their margin trading user), their rate is about 6-10% per year for fixed deposits which is very reasonable and seems legit.

Amel

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Quote from: Eugenar on January 01, 2020, 02:08:34 AM

I think if you want to implement this kind of lending situations you need a strong platform with regulation to ensure that you will know their identity and you can make sure they will pay you. Though, I do not recommend you lend your money to big companies and exchanges, I probably suggest you to start lending cryptocurrencies to individual where you can perform experimental task to make sure it will work when you decide to implement it with larger scale basis.

I don't think it is necessary to need a strong platform to get income from lending. We only need to go to the Lending section, so there you only need to make a thread about the lending services you offer, of course you set your own conditions that need to be met. This forum is full of benefits if you explore further.

Eugenar

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I think if you want to implement this kind of lending situations you need a strong platform with regulation to ensure that you will know their identity and you can make sure they will pay you. Though, I do not recommend you lend your money to big companies and exchanges, I probably suggest you to start lending cryptocurrencies to individual where you can perform experimental task to make sure it will work when you decide to implement it with larger scale basis.

makolz26

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Quote from: robelneo on December 31, 2019, 10:15:34 PM

Quote from: jerry0 on October 11, 2019, 02:52:20 PM

Is this possible? Example you lend bitcoin to something similar to like a bank and they give you interest on it? Like how now they give you 2% interest?

I heard binance is doing something similar like that but it was like 10%?

It's more like an HYIP I don't prefer that I prefer holding my Bitcoin because it will just grow on its own, many have invested on programs that promises a return of investment for a period of time and that's a Ponzi scheme or HYIP, and experts are warning people not to go for it, just keep your wallet safe and you are ok.

Why we should rely on hyip like ponzi scheme, that's not a good idea at all, it's like you are just wasting and risking your fund wherein you can just simply hold it in your wallet, sell at high and buy at low again, repeating this will make you have a better income compare to when you risk it and invest it to them.

worldtraveller321

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i use BlockFI and they are quite good in earning interest

Topic: Earning Interest with Bitcoin? - page 2. (Read 1487 times)