~ What if there is a way to lend out the BTC while HODLing it?
Correct me if I am wrong, your business model must be similar to that of a bank. Those who deposit money in their bank account/s strongly believes that the money is 100% theirs but the bank also uses those funds and invest it elsewhere. The bank takes a large chunk of the profits while paying a small interest to the depositors.
Topic: How interested are you to re-invest BTC? Need Your Input! - page 2. (Read 336 times)
There is very little money to be made by lending out BTC, the money made is lending out USD in the crypto markets. Generally the yearly rate for lending USD or USDT or syntethic USD is 10% which is crazy high considering what most get with their savings account. BTC lending is very little.
Only time when its worth lending BTC is during a bear market or if there is a crazy alt coin market such as Q1 2018, where people are selling BTC and buying alts. So there is demand to borrow BTC to sell for an alt. Right now we are seeing a little of this since ETH, XRP, LTC, BCH are all rallying however the daily interest for BTC Is still very low compared to lending USD.
Only time when its worth lending BTC is during a bear market or if there is a crazy alt coin market such as Q1 2018, where people are selling BTC and buying alts. So there is demand to borrow BTC to sell for an alt. Right now we are seeing a little of this since ETH, XRP, LTC, BCH are all rallying however the daily interest for BTC Is still very low compared to lending USD.
Very unlikely. Holding bitcoin on my own generates me some trickle of profit anyway so why would I want to give it out to a third-party? Not that I am being so hard on the money, it's just that it isn't worth it to lend bitcoin as of the moment while the market is rising. Also, there's a huge chance that the loan might be defaulted and you are left with a collateral whose value isn't even great, nor can even match what your bitcoin's value should be when you got the collateral.
Same here. Not my keys, not my Bitcoin.
Or maybe after some kind of smart contract on bitcoin comes to reality.
Or maybe after some kind of smart contract on bitcoin comes to reality.
What if there is a way to lend out the BTC while HODLing it? We would like to know how likely you will use this kind of service. We highly appreciate it if you can help us out!
Strictly speaking, you are not HODLing it if you are lending it out. In the first place, if you are lending your Bitcoin out, it must mean you are letting it go off your ownership, off from your wallet where you have your own private keys. So you are not really HODLing it, you are letting a third party manage it on your behalf and in exchange for some interest. If your Bitcoin is in Binance, for example, and you are taking the opportunity to earn from it through its lending services, it is not anymore your Bitcoin in a sense; you are already entrusting it to them.
Anyway, I'm arguing along the line of "not your keys, not your Bitcoin."
We're doing a market survey on BTC investment protocol on behalf of DINNGO. The findings of this survey will be published in this post.
This survey will take ~3 mins of your time.
Survey link: https://dinngosurvey.typeform.com/to/W1sdjs?from=bbd
Why do we publish this survey?
Lending and Borrowing on Ethereum have become more and more popular. It shows that rather being a hodler, people want to re-invest crypto to make extra earning. Meanwhile, BTC remains its dominance in the crypto market over 60%. We believe in Bitcoin’s potential and HODL it tight. What do you think a platform that you can re-invest BTC in a non-custodial way (e.g., into Compound.Finance)? We would like to know how likely you will use this kind of protocol. We highly appreciate it if you can help us out!
You can find our previous survey results here: https://medium.com/dinngo-exchange/digital-currency-exchange-survey-3d491f56d877
This survey will take ~3 mins of your time.
Survey link: https://dinngosurvey.typeform.com/to/W1sdjs?from=bbd
Why do we publish this survey?
Lending and Borrowing on Ethereum have become more and more popular. It shows that rather being a hodler, people want to re-invest crypto to make extra earning. Meanwhile, BTC remains its dominance in the crypto market over 60%. We believe in Bitcoin’s potential and HODL it tight. What do you think a platform that you can re-invest BTC in a non-custodial way (e.g., into Compound.Finance)? We would like to know how likely you will use this kind of protocol. We highly appreciate it if you can help us out!
You can find our previous survey results here: https://medium.com/dinngo-exchange/digital-currency-exchange-survey-3d491f56d877
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