Topic: From UK, what is the safest way to lend BTC? (Read 786 times)
Hope this is not going off topic, but is Poloniex lending system based on you having collateral in different currency?
Im thinking of Lending Bitcoins on Poloniex Lending section.
If Poloniex gets hacked or shut down by Govt or any other problem caused by Poloniex liability then only lenders get affected or Every member on Poloniex gets affected losing all bitcoins?
If Poloniex site goes down for few hours or a day or more or it goes down for site maintenance then what happens to the lenders loans on there?
If Poloniex gets hacked or shut down by Govt or any other problem caused by Poloniex liability then only lenders get affected or Every member on Poloniex gets affected losing all bitcoins?
If Poloniex site goes down for few hours or a day or more or it goes down for site maintenance then what happens to the lenders loans on there?
Looking to lend btc and like to know which way has the most proven track record of borrowers making the repayments? Or is there anything out there that guarantees repayments but at a low interest rate?
Im on Poloniex exchange and see the lending section but can't see borrowers feedback there. Is poloniex good for lending or is there better than it?
I read the stickies here and see the word collateral. As a newbie lender how does this work via escrow? Lets say I want to lend btc to a borrower in USA, the borrower must deliver physical collateral to me first? How does escrow gets updated on this? Regarding physical collateral from USA being shipped to UK wont it takes weeks to wait for delivery and borrower might be put off by a slow loan service?
As a newbie lender I am not understanding and like to know how it works?
Thanks,
Im on Poloniex exchange and see the lending section but can't see borrowers feedback there. Is poloniex good for lending or is there better than it?
I read the stickies here and see the word collateral. As a newbie lender how does this work via escrow? Lets say I want to lend btc to a borrower in USA, the borrower must deliver physical collateral to me first? How does escrow gets updated on this? Regarding physical collateral from USA being shipped to UK wont it takes weeks to wait for delivery and borrower might be put off by a slow loan service?
As a newbie lender I am not understanding and like to know how it works?
Thanks,
I would have suggested BTCJam however they are closed right now. Bitlendingclub also closed.
Bitcointalk is a good place to lend as well, i sometimes borrow small amounts. The interest we pay here is pretty high, usually more than 10% for just a few days loan because of the high risks involved.
Ok on Poloniex, is it safer to lend on Margin Trading or Lending?
It is, because the exchange holds collateral.
So even if they lose money margin trading, you'll get your bitcoins back + interest.
To clarify do you mean its safer to lend on margin trading or just lending on Poloniex?
Looking to lend btc and like to know which way has the most proven track record of borrowers making the repayments? Or is there anything out there that guarantees repayments but at a low interest rate?
Im on Poloniex exchange and see the lending section but can't see borrowers feedback there. Is poloniex good for lending or is there better than it?
I read the stickies here and see the word collateral. As a newbie lender how does this work via escrow? Lets say I want to lend btc to a borrower in USA, the borrower must deliver physical collateral to me first? How does escrow gets updated on this? Regarding physical collateral from USA being shipped to UK wont it takes weeks to wait for delivery and borrower might be put off by a slow loan service?
As a newbie lender I am not understanding and like to know how it works?
Thanks,
Im on Poloniex exchange and see the lending section but can't see borrowers feedback there. Is poloniex good for lending or is there better than it?
I read the stickies here and see the word collateral. As a newbie lender how does this work via escrow? Lets say I want to lend btc to a borrower in USA, the borrower must deliver physical collateral to me first? How does escrow gets updated on this? Regarding physical collateral from USA being shipped to UK wont it takes weeks to wait for delivery and borrower might be put off by a slow loan service?
As a newbie lender I am not understanding and like to know how it works?
Thanks,
I would have suggested BTCJam however they are closed right now. Bitlendingclub also closed.
Bitcointalk is a good place to lend as well, i sometimes borrow small amounts. The interest we pay here is pretty high, usually more than 10% for just a few days loan because of the high risks involved.
Ok on Poloniex, is it safer to lend on Margin Trading or Lending?
It is, because the exchange holds collateral.
So even if they lose money margin trading, you'll get your bitcoins back + interest.
Ok on Poloniex, is it safer to lend on Margin Trading or Lending?
You just need to look and learn from people who lend other people loan on bitcointalk and study the way they learn people money,you can as well make prifit
Ok one problem I thought straight aways is taking in gold/silver as collateral is the borrower can send fake gold/silver. If that happens then how does the escrow service will help in regards to this matter?
physical collateral can be mailed which is usually the case
as far as high liquidity for example is gold and silver, rare coins.
taking art for collateral is not advised unless its by famous painters of course
taking alt coins as collateral can just end up as an exchange if thats the borrowers intentions
some people even accept some online accounts that have value but i dont know how to
find that value in them so ill leave with this
im not a seasoned lender and ive only expressed my opinions i suggest you seek better information
from someone that has a lengthy record of lending and doing collateral
as far as high liquidity for example is gold and silver, rare coins.
taking art for collateral is not advised unless its by famous painters of course
taking alt coins as collateral can just end up as an exchange if thats the borrowers intentions
some people even accept some online accounts that have value but i dont know how to
find that value in them so ill leave with this
im not a seasoned lender and ive only expressed my opinions i suggest you seek better information
from someone that has a lengthy record of lending and doing collateral
Ok so for physical collateral you have to meet the borrower in person? I thought the borrower posts the physical collateral to the lender's address.
What kind of physical collaterals have high amount of liquidity?
Or shall I just ignore what I asked above and take your suggestion which is use only altcoins as collateral? Isnt this basically is trading altcoins for bitcoins?
What kind of physical collaterals have high amount of liquidity?
Or shall I just ignore what I asked above and take your suggestion which is use only altcoins as collateral? Isnt this basically is trading altcoins for bitcoins?
there really is no fool proof way of lending with gurantees of repayment.
as far as polinix goes im not familiar with it so i can off no advice there.
collateral tho as far as lending btc within the forum should be secured with another type of cryptocurrency and it needs to be easily traded
(e.g. ether or ltc imho)
even then there is still a number of people that wont payback as they just found a venue to get rid of their
coin and your stuck then trying to get rid of it yourself...
escrow...can be done by many highly trusted members of this community and also specific service providers
i would keep clear of physical collateral unless it has a high amount of liquidity and even then you have to find
a physical location/business to secure the collateral for you
as far as polinix goes im not familiar with it so i can off no advice there.
collateral tho as far as lending btc within the forum should be secured with another type of cryptocurrency and it needs to be easily traded
(e.g. ether or ltc imho)
even then there is still a number of people that wont payback as they just found a venue to get rid of their
coin and your stuck then trying to get rid of it yourself...
escrow...can be done by many highly trusted members of this community and also specific service providers
i would keep clear of physical collateral unless it has a high amount of liquidity and even then you have to find
a physical location/business to secure the collateral for you
Looking to lend btc and like to know which way has the most proven track record of borrowers making the repayments? Or is there anything out there that guarantees repayments but at a low interest rate?
Im on Poloniex exchange and see the lending section but can't see borrowers feedback there. Is poloniex good for lending or is there better than it?
I read the stickies here and see the word collateral. As a newbie lender how does this work via escrow? Lets say I want to lend btc to a borrower in USA, the borrower must deliver physical collateral to me first? How does escrow gets updated on this? Regarding physical collateral from USA being shipped to UK wont it takes weeks to wait for delivery and borrower might be put off by a slow loan service?
As a newbie lender I am not understanding and like to know how it works?
Thanks,
Im on Poloniex exchange and see the lending section but can't see borrowers feedback there. Is poloniex good for lending or is there better than it?
I read the stickies here and see the word collateral. As a newbie lender how does this work via escrow? Lets say I want to lend btc to a borrower in USA, the borrower must deliver physical collateral to me first? How does escrow gets updated on this? Regarding physical collateral from USA being shipped to UK wont it takes weeks to wait for delivery and borrower might be put off by a slow loan service?
As a newbie lender I am not understanding and like to know how it works?
Thanks,
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