Earning Interest with Bitcoin? - page 8.

Wexnident

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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%?

It's pretty scary ngl. With how crypto is made with anonymous transactions just adds another step to that. The idea is good and people would most likely go for it. After all, it is free profit. There's also the volatility of the market which makes profit unstable at times. Of course, if contracts and the such were made, things would be a lot easier but we're using crypto so I don't think that would likely happen.

Edraket31

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Quote from: kayvie on October 11, 2019, 08:23:49 PM

Quote from: cutesgirl on October 11, 2019, 08:04:54 PM

Your ideas is called staking, you hold your altcoin kind on exchange market and earn about several percent for every month but you will hold your coin almost one month, never withdraw to get qualification earn staking coin, you faced with two option get profit with your staking coin but other time you have pray your staking coin keep higher or the same price when you buy.

It is actually staking like other cryptocurrency's function, if you know minexcoin where they have staking, you park your crypto into their site and after a week or months you will receive a certain percentage from your altcoin. There are some cryptocurrency was already have the same function, but in btc it is possible if someone will create the same function as that.

Staking is a good way to earn, especially if you are staking top coins, you are earning while holding, it just need to be patient as this is an easy way but there is no guarantee as the price of a certain coin sometimes fluctuates, so you need to still watch over it and not just holding your coins/tokens.

I haven't heard any exchange where we can stake bitcoin too, if ever there is, many people will be interested with that idea just like me.

kayvie

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Quote from: cutesgirl on October 11, 2019, 08:04:54 PM

Your ideas is called staking, you hold your altcoin kind on exchange market and earn about several percent for every month but you will hold your coin almost one month, never withdraw to get qualification earn staking coin, you faced with two option get profit with your staking coin but other time you have pray your staking coin keep higher or the same price when you buy.

It is actually staking like other cryptocurrency's function, if you know minexcoin where they have staking, you park your crypto into their site and after a week or months you will receive a certain percentage from your altcoin. There are some cryptocurrency was already have the same function, but in btc it is possible if someone will create the same function as that.

Cookies_N_Cream

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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%?

I haven't explored Binance yet but I do have altcoins there since last year.
Regarding lending BTC with interest like banks, it is kind of risky unless the company is well established for years and is really making profits (probably like exchanges).

cutesgirl

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Your ideas is called staking, you hold your altcoin kind on exchange market and earn about several percent for every month but you will hold your coin almost one month, never withdraw to get qualification earn staking coin, you faced with two option get profit with your staking coin but other time you have pray your staking coin keep higher or the same price when you buy.

inanilujimi

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Quote from: jerry0 on October 11, 2019, 03:31:15 PM

Well if you can lend bitcoin, are you giving you interest in bitcoin? Example you lend 1 btc... they pay you back like 1.05 btc?

in my opinion 1 btc is too high risk, friend.
it's better to hold the btc than giving it to someone else who is full of risk.
but if you want more please give loans to those who have been trusted by many people.

Shasha80

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There are so many ways to make money from Bitcoin, one of them is by earning interest from people or exchanges. To be honest,
I don't like the way to get money from earning interest the most. The reason is because it is risky scam and also this is a less creative way.
I think, because making money or profit is more fun if done in a right and creative way. But the decision is in each other's hands,
i will not forbid anyone to get money with earning interest with bitcoin. If you want many who have provided this servant, like Binance
and there are also in this forum. But please be careful in choosing this business provider, choose who can be trusted and clear track record.

gentlemand

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Quote from: timerland on October 11, 2019, 06:30:05 PM

If coinbase did that though, I reckon we'd need to send them every piece of ID before we'd be able to invest there Tongue

Tons of people are already signed up to the hilt there. The only way they can get any type of return though is by lending to nutters. It's says enough that no long established operation is doing it other than through their trading platforms and Circle have already fucked enough people with their Clams balls up.

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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%?

I don't think Binance or any other firms functioning with legitimacy will give such a huge interest upon the investment. Most of the time big interests were a way to attract the common people who are new to the cryptocurrency network. Most of the users when entering have a thinking cryptocurrency investment will make us rich. This is achievable, when everything is done on the right manner understanding and learning the market. Simply getting in will make the user get into the hands of scammers who attract with large returns on the investment and runs away.

timerland

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Quote from: tabas on October 11, 2019, 05:03:00 PM

Quote from: serjent05 on October 11, 2019, 03:30:41 PM

Nexo gives 8% interest

But the interest that will be given by Nexo won't be in bitcoin.
https://nexo.io/earn-interest/eur
https://nexo.io/earn-interest
However, Nexo is one of the most popular now. I haven't tried them but I think 8% annually is sustainable.

I agree, they are offering loans to people who need a line of credit and then take their crypto as collateral, I don't really trust this at all since they are charging a min of 8 percent interest, and investors are getting 8 percent back. Sure their might be higher interest rates for bigger loans but I just don't think they have enough volume to keep accepting investments and this will cut in their profits a lot.

Quote from: gentlemand on October 11, 2019, 05:59:50 PM

The faintly legit places that offer this do it entirely on the basis of finding other individuals willing to pay your interest. As we've seen with the wildly fluctuating terms and payment levels from Blockfi it wavers all over the place and it super reactive to what they can squeeze out of their borrowers.

It's a bit of a stretch to call it interest earning. You're really a lender in the most basic sense.

If Coinbase offered a rock solid and boring 2-3% no doubt it would be swamped. They have no safe way of making that pay so we're stuck with places that look fancy on the surface but might blow up any moment.

If coinbase did that though, I reckon we'd need to send them every piece of ID before we'd be able to invest there Tongue

Ryan Dugan

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I gave up trying to find a place to earn interest. There many to choose from but I do not trust a single one of them. What legal protection do we have if they run off with your funds? Even a very good return will take years to break even and before then if they run you lose. So even 33% which is a ton might not be worth it if you only get paid for 2 years and they steal the rest. So it is hard to know. Maybe if you lend your crypto out but take collateral? That is the only way I can think of doing this the most safely.

gentlemand

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The faintly legit places that offer this do it entirely on the basis of finding other individuals willing to pay your interest. As we've seen with the wildly fluctuating terms and payment levels from Blockfi it wavers all over the place and it super reactive to what they can squeeze out of their borrowers.

It's a bit of a stretch to call it interest earning. You're really a lender in the most basic sense.

If Coinbase offered a rock solid and boring 2-3% no doubt it would be swamped. They have no safe way of making that pay so we're stuck with places that look fancy on the surface but might blow up any moment.

Yamifoud

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Quote from: Upgrade00 on October 11, 2019, 03:52:07 PM

Lending has been going on in the forum for a very long time now, and it has also been implemented into the websites of a couple of exchanges.
When engaging in a peer to peer transaction, one would need a collateral (it's not always used).
Binance has been marketing their lending platform recently added. It's a reputable site which I can recommend. Always look up the website before engaging in any long term transaction on it

It has already existed around for many years, loans in BTC and paid with BTC also or other potential coins.
The only new is that by taking a loan from a certain exchange which is something higher risk even it is reputable rather than to directly make loan to the reputable member in the forum.

I don't think it was a good idea and a deal of 10% interest is big enough.

nelson4lov

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Quote from: timerland on October 11, 2019, 04:22:52 PM

~Snipped ~
10 percent sounds quite a bit far-fetched to be honest, you'd probably only get those loans if you ran a P2P service and charged really high interest rates for short term gambling no collateral loans, make sure you lend to trusted members though.

Look at a couple decentralised options out there, especially in DE-FI, there are definetly some promising options out there and companies like Salt and nexo also do exist.

10% isn't far fetched when you have a sustainable business to support it. If Binance is offering more than their competitors, well that's because they're looking to grow their userbase especially since US users have been sent packing.

Quote from: jerry0 on October 11, 2019, 03:31:15 PM

Well if you can lend bitcoin, are you giving you interest in bitcoin? Example you lend 1 btc... they pay you back like 1.05 btc?

You can't exactly lend with BTC but you can lend an equivalent of 1 BTC using the supported crypto. And yes, You can convert your funds + interest back to BTC after redemption. That's for binance though. I don't know about others.

darkangel11

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I know a few ways to earn interest by owning Bitcoin.
One of them is investing in a casino/ The second one is investing in a lending platform.
The third one is investing in a casino.
The fourth one is claiming bitcoin airdrops and hodling.

All of them are risky and It's always your choice.

tabas

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Quote from: serjent05 on October 11, 2019, 03:30:41 PM

Nexo gives 8% interest

But the interest that will be given by Nexo won't be in bitcoin.
https://nexo.io/earn-interest/eur
https://nexo.io/earn-interest
However, Nexo is one of the most popular now. I haven't tried them but I think 8% annually is sustainable.

Immakillya

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Yeah that's possible. And actually you can do it here. A lot users here provides Bitcoin loan. You can visit the lending section. You're able lend bitcoin to members here and pay you interest. But first, they must present you any valid collateral before you lend them. Also some altcoins doing lending function. I think Bitconnect is one of that but it's already shutted down due to inability to sustain the operation needs. In lending industry, very few succeeded because way too risky.
There's a lot of lending companies out there that provide Bitcoin loans. Just don't know what percent they charge you for interest. Some are reasonable and some are not. So it's up to you.

timerland

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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%?

10 percent sounds quite a bit far-fetched to be honest, you'd probably only get those loans if you ran a P2P service and charged really high interest rates for short term gambling no collateral loans, make sure you lend to trusted members though.

Look at a couple decentralised options out there, especially in DE-FI, there are definetly some promising options out there and companies like Salt and nexo also do exist.

Astvile

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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.

Upgrade00

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Lending has been going on in the forum for a very long time now, and it has also been implemented into the websites of a couple of exchanges.
When engaging in a peer to peer transaction, one would need a collateral (it's not always used).
Binance has been marketing their lending platform recently added. It's a reputable site which I can recommend. Always look up the website before engaging in any long term transaction on it

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