Topic: Lending bitcoins on bitfinex, experience? (Read 725 times)
Funny and profitable until the exchange vanishes or you are locked out of your account because you need id verification or something
Unless you get a decent rate that's not tiny and you're okay with possibly losing your coins if the exchange goes belly up, don't do it. I wouldn't put too much in it as even the exchanges which brag to be the most secure often turn out to be the worst in security. Best to HODL imo.
I think trusting centralized exchanges is not a good idea for lending your bitcoin. You can diversify your bitcoin into random altcoins and you probably get more than those amount at the end of the year.
I have started lending my coins on Bitfinex to margin traders with a pretty good rate, is it safe? I've read everything about how margin trading works and about collaterals and it seems so. Most of the coins are in cold storage not connected directly to bitfinex, it should be secure.
It looks like a safe way to get even more money out of your coins, when you lend it at the right times, you can get 5-20 % yearly return rate. If you choose bad, you end up with 2-4 % return rate.
Might be better than just hodling and hodling.
I guess it's safer on Bitfinex than Poloniex, that offers the same, or is there any other really safe exchange that offers users lending to other traders (haven't found any reputable other than bitfinex and poloniex)?
Is it true that you cannot trade crypto without verification od Polo (when your account is worth more than $2000, which is less than 1 bitcoin obviously)? It's possible on Bitfinex without verification.
It looks like a safe way to get even more money out of your coins, when you lend it at the right times, you can get 5-20 % yearly return rate. If you choose bad, you end up with 2-4 % return rate.
Might be better than just hodling and hodling.
I guess it's safer on Bitfinex than Poloniex, that offers the same, or is there any other really safe exchange that offers users lending to other traders (haven't found any reputable other than bitfinex and poloniex)?
Is it true that you cannot trade crypto without verification od Polo (when your account is worth more than $2000, which is less than 1 bitcoin obviously)? It's possible on Bitfinex without verification.
First you said 'Most of costumer coin are in cold storage and not connected to bitfinex,it should be secure'.
how about do some research regarding a security on bitfiniex,and type 'Bitfinex hacked' in the google you will see it.
about secure or not it's not depend on cold storage or not,it's all about themself.if they decided to scam and it'll scam if they don't it won't
it's secuse as an exchanger no more.
i never did a yearly margin before because it's too risky for me,
and yep right now it's too risky to trade in poloniex,it's not about their margin but their shady activity.
so i recomend you do not trade in there for a moment,and $2000 it's not worth but instead 'MAX WITHDRAWAL' for user who's not do a verification.
I have started lending my coins on Bitfinex to margin traders with a pretty good rate, is it safe? I've read everything about how margin trading works and about collaterals and it seems so. Most of the coins are in cold storage not connected directly to bitfinex, it should be secure.
It looks like a safe way to get even more money out of your coins, when you lend it at the right times, you can get 5-20 % yearly return rate. If you choose bad, you end up with 2-4 % return rate.
Might be better than just hodling and hodling.
I guess it's safer on Bitfinex than Poloniex, that offers the same, or is there any other really safe exchange that offers users lending to other traders (haven't found any reputable other than bitfinex and poloniex)?
Is it true that you cannot trade crypto without verification od Polo (when your account is worth more than $2000, which is less than 1 bitcoin obviously)? It's possible on Bitfinex without verification.
it is as secure as the exchange. So if bitfinex vanishes, also your coins are lost.It looks like a safe way to get even more money out of your coins, when you lend it at the right times, you can get 5-20 % yearly return rate. If you choose bad, you end up with 2-4 % return rate.
Might be better than just hodling and hodling.
I guess it's safer on Bitfinex than Poloniex, that offers the same, or is there any other really safe exchange that offers users lending to other traders (haven't found any reputable other than bitfinex and poloniex)?
Is it true that you cannot trade crypto without verification od Polo (when your account is worth more than $2000, which is less than 1 bitcoin obviously)? It's possible on Bitfinex without verification.
Poloniex 2000$ limit is daily withdrawal limit. So it is not related to trading.
I have started lending my coins on Bitfinex to margin traders with a pretty good rate, is it safe? I've read everything about how margin trading works and about collaterals and it seems so. Most of the coins are in cold storage not connected directly to bitfinex, it should be secure.
It looks like a safe way to get even more money out of your coins, when you lend it at the right times, you can get 5-20 % yearly return rate. If you choose bad, you end up with 2-4 % return rate.
Might be better than just hodling and hodling.
I guess it's safer on Bitfinex than Poloniex, that offers the same, or is there any other really safe exchange that offers users lending to other traders (haven't found any reputable other than bitfinex and poloniex)?
Is it true that you cannot trade crypto without verification od Polo (when your account is worth more than $2000, which is less than 1 bitcoin obviously)? It's possible on Bitfinex without verification.
It looks like a safe way to get even more money out of your coins, when you lend it at the right times, you can get 5-20 % yearly return rate. If you choose bad, you end up with 2-4 % return rate.
Might be better than just hodling and hodling.
I guess it's safer on Bitfinex than Poloniex, that offers the same, or is there any other really safe exchange that offers users lending to other traders (haven't found any reputable other than bitfinex and poloniex)?
Is it true that you cannot trade crypto without verification od Polo (when your account is worth more than $2000, which is less than 1 bitcoin obviously)? It's possible on Bitfinex without verification.
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