Topic: Lenders, please don't lend without a proper collateral! - page 2. (Read 3295 times)
Very good advice. I'm also surprised that many lenders take the risk of lending without collateral and many people requesting loans ask them without any collateral, or with the intent to scam straight away... That's one of the reasons I now rarely go to the lending section
It's not that hard to spot when someone really needs a legit loan, even withouth collateral in some cases. If the member can sign his old btc address, and the
amount isnt a great one in contrast to his/hers account, i believe they will pay up.
If that sort of rule was to be used, then one could argue that no escrows should be trusted, since they also can sell their account and take the escrowed funds to themselves,no ?
amount isnt a great one in contrast to his/hers account, i believe they will pay up.
If that sort of rule was to be used, then one could argue that no escrows should be trusted, since they also can sell their account and take the escrowed funds to themselves,no ?
I'm opening this post to warn lenders to not lend out cryptocurrencies without a proper collateral. You not only risk your own coins but you risk the coins of escrows too. And when you take an account as collateral check carefully if a loan is on that account.
I write this because it happened lately that a lender lent out coins without collateral. The borrower removed the personal message under the avatar that he has a loan and sold the account. The outcome was that someone paid for the loan and it was not the borrower. I won't say any names and i didn't even gave red trust yet in order to not pinpoint the case.
Please don't be stupid by lending out without collateral. I'm actually surprised that it still happens since everytime i have read about that in the past there were many that warned the lenders already. Accounts can be bought or sold anytime and you never can be sure about the one controlling the account. And when you give out loans without collateral you practically ask being scammed. And you even risk escrows that might be involved and don't find about such thing. Which is quite easily done since you can't check everything out.
Only a headsup. Don't do this!
I write this because it happened lately that a lender lent out coins without collateral. The borrower removed the personal message under the avatar that he has a loan and sold the account. The outcome was that someone paid for the loan and it was not the borrower. I won't say any names and i didn't even gave red trust yet in order to not pinpoint the case.
Please don't be stupid by lending out without collateral. I'm actually surprised that it still happens since everytime i have read about that in the past there were many that warned the lenders already. Accounts can be bought or sold anytime and you never can be sure about the one controlling the account. And when you give out loans without collateral you practically ask being scammed. And you even risk escrows that might be involved and don't find about such thing. Which is quite easily done since you can't check everything out.
Only a headsup. Don't do this!
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