Earning Interest with Bitcoin? - page 6.

joniboini

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Quote from: Sithara007 on October 12, 2019, 11:57:56 PM

I would just say that anyone lending coins in order to get a 1% or 2% interest is making a huge mistakes. With the number of scams and ponzis going around in the cryptocurrency market, this is probably the stupidest thing to do. For example, you are lending 1 BTC to someone and expects him to pay 1.1 BTC back within one month. Now let's look it from the perspective of the guy who took the loan.

Darkstar's loan business is going well so far. And the same thing could be said about banks. They keep loaning their money to people, and so far, it works great for them.

Quote from: Sithara007 on October 12, 2019, 11:57:56 PM

Bitcoin is not going to multiply itself. So either this guy is planning to run away with the coins, or he is planning to use these coins for some investment (trading or ICOs) a nd expects to net a profit. Even if it is the second case, there is no guarantee that the coins will be paid back in time. What if he incurs a loss in trading. Then how he is going to pay back the coins? Will he take another loan to cover the existing loan?

Or he could use other coins or tokens to pay back the loan. Or he got his salary next month and paid for it. You can't lend your money just to some random guy. It's stupid.

You need to understand that loan is not the same as free money. Most of the time, you need collateral before somebody gives you a loan, so the risk of them running away is smaller than you expected, except the collateral does not have any value.

Quote from: Pearls Before Swine on October 12, 2019, 11:44:03 PM

The lending game in crypto is tough, and that's why there haven't been any *legitimate* crypto banks yet that pay interest on deposits. There was that bitcoin savings & loan some years ago, but that turned out to be a huge ponzi scheme.

It's no secret that fiat lending is more structured and regulated, hence the number of scams could be lower than crypto. But using a small part of your Bitcoin might not be a bad idea at all if you can manage it.

DabsPoorVersion

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Quote from: cryptoknightt on October 12, 2019, 11:43:29 PM

Quote from: Genemind on October 12, 2019, 10:43:12 PM

It's possible especially if you will lend it to people who are into crypto. However, you should think of the risks that you might be facing. Crypto is volatile so there's no guarantee that they could return the Bitcoin that they have borrowed in time. You should lend it with the trusted people that you know. Why don't you invest and do trading using your bitcoins rather than lending it? I think that would be more profitable.

when you borrow with the cryptocurrency method it will create confusion when repayments, for example now you are borrowing $100 in exchange for the price of bitcoin in the current market conditions is high, whereas if you return with usd then the one giving the loan will lose because the bitcoin price falls, borrowers will profit when prices rise.

Its a risk from both sides. Lender will be at risk if the price of bitcoin will increase and borrower will be at the benefit of it.
Vice versa when bitcoin will decrease its price, borrower can easily pay even with interest if its lower than the time he borrows, lender will be at lost if he received the payment when its price is lower than the time he lend it.

Anonylz

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If I will ever take part in lending for interest stuff, I think binance will be my choice if actually they provide this service, binance is a well known established company with millions of dollars in business, the chances of me losing my money is very slim, any other unknown lending services is out of the question irrespective of the percentage they are offering, they can just on a very good day disappear with your money, I can't afford any story that touch.

Sithara007

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I would just say that anyone lending coins in order to get a 1% or 2% interest is making a huge mistakes. With the number of scams and ponzis going around in the cryptocurrency market, this is probably the stupidest thing to do. For example, you are lending 1 BTC to someone and expects him to pay 1.1 BTC back within one month. Now let's look it from the perspective of the guy who took the loan.

Bitcoin is not going to multiply itself. So either this guy is planning to run away with the coins, or he is planning to use these coins for some investment (trading or ICOs) and expects to net a profit. Even if it is the second case, there is no guarantee that the coins will be paid back in time. What if he incurs a loss in trading. Then how he is going to pay back the coins? Will he take another loan to cover the existing loan?

Pearls Before Swine

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Quote from: Dabs on October 11, 2019, 03:03:44 PM

Remember, not your keys, not your coins.

That is true, but if there wasn't any risk there wouldn't be any reward.

I've never earned any interest on bitcoin, but I've heard the same stories about exchanges offering lending services where you can earn a return on your money. To me that seems too risky and I'm happy to just hold onto my bitcoin, hoping for some capital gains.

The lending game in crypto is tough, and that's why there haven't been any *legitimate* crypto banks yet that pay interest on deposits. There was that bitcoin savings & loan some years ago, but that turned out to be a huge ponzi scheme.

cryptoknightt

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Quote from: Genemind on October 12, 2019, 10:43:12 PM

It's possible especially if you will lend it to people who are into crypto. However, you should think of the risks that you might be facing. Crypto is volatile so there's no guarantee that they could return the Bitcoin that they have borrowed in time. You should lend it with the trusted people that you know. Why don't you invest and do trading using your bitcoins rather than lending it? I think that would be more profitable.

when you borrow with the cryptocurrency method it will create confusion when repayments, for example now you are borrowing $100 in exchange for the price of bitcoin in the current market conditions is high, whereas if you return with usd then the one giving the loan will lose because the bitcoin price falls, borrowers will profit when prices rise.

Wintersoldier

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Quote from: Astvile on October 11, 2019, 04:19:11 PM

Yes, it is possible in fact there already are lending services out there like Binance and many more, they are offering interest rates bigger than what you think. Lending services are everywhere from exchanges and here many people/company is already offering this kind of service.

I don't think it is necessary to lend bitcoin for interest. Basically, when you are trading, you are already investing for profit, the same way as lending money, you are seeking for bigger return. Then if that is so, there's no reason to lend if you can already trade even a small amount of crypto, but I know exchanges needs minimum amount to be traded, you just need to get that amount and you don't need to worry about paying money from the lend.

ardentvolcanoes

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Quote from: crossabdd on October 12, 2019, 11:19:41 PM

Well that's very possible, as you say, big exchanges like binance do that. I think that's normal. because binance also opens margin, so the BTC that you invest will be borrowed by the margins. and from the profits will be shared with investors. this system is the same as a bank, you save at a bank with a small interest. and capital borrowers will incur large interest. this interest will be divided.

The risk factors that's needed to consider is the volatility of the market, but if you have strong believe that it will go positively that interest will turned to decent value of profits. Checking every possibilities and assume if how things will work after some moths or years of holding, from that point you'll be able to assess if it's worth to the such business or there's other way that you can use your money instead of pursuing to this types of investment.

crossabdd

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Well that's very possible, as you say, big exchanges like binance do that. I think that's normal. because binance also opens margin, so the BTC that you invest will be borrowed by the margins. and from the profits will be shared with investors. this system is the same as a bank, you save at a bank with a small interest. and capital borrowers will incur large interest. this interest will be divided.

Genemind

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It's possible especially if you will lend it to people who are into crypto. However, you should think of the risks that you might be facing. Crypto is volatile so there's no guarantee that they could return the Bitcoin that they have borrowed in time. You should lend it with the trusted people that you know. Why don't you invest and do trading using your bitcoins rather than lending it? I think that would be more profitable.

Xxmodded

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Lending have big side where you have wait minimum one month to get lending coins with faced risk if your lending coin have higher price after one month maybe you get profit, but if your lending coin have lower price after one month your lost your money and your lending coin is less profit, better if you have money for trading or buying IEO or ICO coin have big chance to get much profit with your bitcoin.

Kyraishi

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Quote from: mdzahed134 on October 12, 2019, 02:41:43 PM

Actually i'm not familiar with any reliable Bitcoin based platform which is provide interest. But i know about KCS interest platform if you feel free than visit here link https://kucoinshares.com/ it’s very transparency from a couple of years. You will get roi 13.7% though a little bit profit but this is effective for long time interest. Nexo is another leading platform which also providing interest with your money.

That's a decent option for investments actually, Kucoin has been following under Binance's footsteps for a couple months now and have launched their own launchpad.

You could have a look at some altcoins that offer dividends, there are still a couple of them out there with monthly divendends, otherwise bankrolling an casino doesn't sound like a bad option, just don't get scammed!

mdzahed134

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Actually i'm not familiar with any reliable Bitcoin based platform which is provide interest. But i know about KCS interest platform if you feel free than visit here link https://kucoinshares.com/ it’s very transparency from a couple of years. You will get roi 13.7% though a little bit profit but this is effective for long time interest. Nexo is another leading platform which also providing interest with your money.

Youghoor

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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%?

Why will you lend your bitcoin to someone when you can hold onto it and still make profits as the market raises. For me, I don't really believe in the idea of lending cryptocurrencies to someone. What if the person decides not to pay back and run away with you coin? There is no way you will be able to get your coin back..

ChrisPop

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Not your Keys, Not your Bitcoins

Bitcoin is valuable, therefore some institutions will pay you money/interest to deposit them in their accounts and therefore let them leverage the power of your belongings. Binance, Nexo, Celsius Network, BlockFi and more are offering even 10%/year interest on your cryptocurrencies. However you need to assess if the risk you expose to is worth the reward. For example Binance is not regulated, so in the event the company goes bankrupt are you willing to let go of your money? Also you are exposed to hacking, we all know that the world's most skilled hackers are looking to steal these precious cryptos.

DarkStar_

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Quote from: Reid on October 12, 2019, 01:52:40 AM

You can click my signature if you want to go deeper.
We at Yolodice also does have an investment option. It aint just gambling anymore but you could make something by just leaving your money in their account.

You should at least have some knowledge about the site your signature spamming for Tongue

YoloDice removed their investment option about a month ago. It also is technically gambling, just gambling with +EV.

Daniel91

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I have come across such offers several times but have not accepted.
First of all, bitcoin is not regulated in my country and there is no legal protection in such offers.
And second, why borrow bitcoin and risk because of 2-3% interest if I can just hold bitcoin and earn much more.
I'd rather deposit some of my crypto earnings into an investment fund, completely legal and in accordance with the law, and wait for safe earnings.

shoreno

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Quote from: alexsandria on October 12, 2019, 07:23:21 AM

I heard that there are some companies that are doing that, and they have different interest rates, but I wouldnt recommend someone to have that. It is for the reason that it is somewhat risky. There are some bad stories about it, and I think it is better to be safe than to earn some interest rates but risking your keys.

risking your keys ? so it means that you are going to give your private keys to them ? on other sites that i know , you will only be giving your bitcoins to them but not your private keys . some people love to be safe and chose to not earn more but there are still that willing to take more risk just to earn easy and fast money . if they lucky then good but if not then they shouldnt complain because that is thier fault on why they experiece such issues .

alexsandria

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I heard that there are some companies that are doing that, and they have different interest rates, but I wouldnt recommend someone to have that. It is for the reason that it is somewhat risky. There are some bad stories about it, and I think it is better to be safe than to earn some interest rates but risking your keys.

ivakar

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yes, this is working option!
for example, some exchanges are providing such offer, yobit exchange in particular
I was used to use it, but not for btc, for dogecoin.. but there is quite a lot of coins, so you may try if you want.

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