Topic: Lending out your coins (Read 505 times)
I believe poloniex is the best way to lend your coins with less risk. It gives less earning compared to other lending service availability. Even our forum is a good place, if you have the good trust rate and the strength to get the collateral which is not that simple.
Does any body here or any where else accept the equivalent of BTC in dollars and deal with interest rate and such?
I'd like to lend $1000 but in Bitcoin and receive $1200 after a month again in BTC. wouldn't that be more simpler and easy?
That way no matter what is the price in market, both sides will have a fair deal without one losing more or earning more or one paying more than what was agreed upon.
I don't think any body willing to lend like that though.
It is possible. Check in long term lending board.I'd like to lend $1000 but in Bitcoin and receive $1200 after a month again in BTC. wouldn't that be more simpler and easy?
That way no matter what is the price in market, both sides will have a fair deal without one losing more or earning more or one paying more than what was agreed upon.
I don't think any body willing to lend like that though.
It is an usual practice among lenders to deal in either bitcoin value or in fiat value. But both will be done in mode of bitcoin payments. Dealing is fiat is good when the borrowers is going to convert your bitcoins into his fiat and will be using for his business/studies or where ever and when repaying you he may again need to buy bitcoins and will send to you back.
But in the case of people will be keeping your bitcoins for using it in gambling/cloud mining then dealing in fiat may trouble them if prices changes a lot within loan period.
Does any body here or any where else accept the equivalent of BTC in dollars and deal with interest rate and such?
I'd like to lend $1000 but in Bitcoin and receive $1200 after a month again in BTC. wouldn't that be more simpler and easy?
That way no matter what is the price in market, both sides will have a fair deal without one losing more or earning more or one paying more than what was agreed upon.
I don't think any body willing to lend like that though.
I'd like to lend $1000 but in Bitcoin and receive $1200 after a month again in BTC. wouldn't that be more simpler and easy?
That way no matter what is the price in market, both sides will have a fair deal without one losing more or earning more or one paying more than what was agreed upon.
I don't think any body willing to lend like that though.
Set your target, if not that high I guess it is possible in the forum to lend money, we have plenty of active members who's from time to time will need money and you can give them a short term to get your money back in a faster way.
We called that a micro loan and you don't need to lend your money to limited number of people to build a good portfolio, techniques that will work IMO which I have some kind of training in real life lending under micro loan is to focus on volume of borrower's that way if minority will not pay you can still continue your business.
Remember this two things, lend money in a short term and in a bigger interest, I'm sure you'll be able to give a competitive rates here.
We called that a micro loan and you don't need to lend your money to limited number of people to build a good portfolio, techniques that will work IMO which I have some kind of training in real life lending under micro loan is to focus on volume of borrower's that way if minority will not pay you can still continue your business.
Remember this two things, lend money in a short term and in a bigger interest, I'm sure you'll be able to give a competitive rates here.
Lending your bitcoin is not a good idea. I have used btcjam earlier and invested a minor percentage of my bitcoin holding to test this market. However, I ended up with 60% loss on my invested capital because most of the people did not bother to pay me back. I was able to recover only 40% of the investment.
SInce then, I have completely stopped lending my hard earned bitcoin and started trading. Remember, bitcoin lending is an online process with no regulatory agency. So if someone stops paying back, there is hardly any way you can get hold of that person and recover that money. So never lend your bitcoins.
Wise move. Dishonesty is endemic in the crypto space, and even trusted members here end up scamming for pathetic amounts eventually. Add this to the fact that trusted accounts can be bought and sold, and you have in all the incentive you need to be mistrustful of everyone. In this sort of environment you shouldn't lend bitcoin to anyone. Sad, but that's the reality I've come to know here. SInce then, I have completely stopped lending my hard earned bitcoin and started trading. Remember, bitcoin lending is an online process with no regulatory agency. So if someone stops paying back, there is hardly any way you can get hold of that person and recover that money. So never lend your bitcoins.
lending bitcoin because of its anonymity and being irreversible will always be a hard job to do but because of the decent profit it can give you, it becomes interesting.
in my opinion the only good way of doing it is to take a valid collateral so that you can always have a good insurance that your money is safe. this means doing the same thing as banks do, they take your home and give you a loan for example and if you don't pay back the loan they will evict you.
about exchanges like poloniex i have to say i never liked doing it, mostly because i don't quite get it
and also because it is a third party and an exchange and there have been so many so called hacks that i don't want to risk anything.
in my opinion the only good way of doing it is to take a valid collateral so that you can always have a good insurance that your money is safe. this means doing the same thing as banks do, they take your home and give you a loan for example and if you don't pay back the loan they will evict you.
about exchanges like poloniex i have to say i never liked doing it, mostly because i don't quite get it
and also because it is a third party and an exchange and there have been so many so called hacks that i don't want to risk anything.
Where and how do I lend out coins, with minimum risk ?
Directly on the forum is not the worst idea, but you always have to handle the collecting of the collateral, and i think if we are speaking of micro loans, it is not worth the effort, and big loans, well maby you shouldn´t give out these on a forum where anyone can be anonymous and run with your coins.
Poloniex has a lending section too, but how have they regulated if a user does not pay back ?
I recently discovered btcjam, but I don´t know anything about it.
I would really appreciate it if you can share your experience
A sad story, related to the topic
I once had the idea to create a service, to give out loans and let people invest in this, simmilar to a bank. But then it came to my mind that this won´t be possible because ponzis have ruined this.
If you don't trust any site to put your coins and lend it out then you can make a thread here in our forum and start your service here by offering your coins but don't forget to request a collateral so you can sell it if the user will not pay you back. It is good to start here because you can possibly build your account reputation and get more clients. Directly on the forum is not the worst idea, but you always have to handle the collecting of the collateral, and i think if we are speaking of micro loans, it is not worth the effort, and big loans, well maby you shouldn´t give out these on a forum where anyone can be anonymous and run with your coins.
Poloniex has a lending section too, but how have they regulated if a user does not pay back ?
I recently discovered btcjam, but I don´t know anything about it.
I would really appreciate it if you can share your experience
A sad story, related to the topic
I once had the idea to create a service, to give out loans and let people invest in this, simmilar to a bank. But then it came to my mind that this won´t be possible because ponzis have ruined this.
I think you can lend your coins at lending section going outside of this forum its risky by now if you poloniex there are some issue i heard..
Yobit also added a new feature the same as poloniex they are added a investbox.
Investing your coins in BTCJam is risky just like other said its not a good idea to invest there better to go in lending section of this forum and lend your coins with collateral so that if they are default you can sell them..
Yobit also added a new feature the same as poloniex they are added a investbox.
Investing your coins in BTCJam is risky just like other said its not a good idea to invest there better to go in lending section of this forum and lend your coins with collateral so that if they are default you can sell them..
Lending your bitcoin is not a good idea. I have used btcjam earlier and invested a minor percentage of my bitcoin holding to test this market. However, I ended up with 60% loss on my invested capital because most of the people did not bother to pay me back. I was able to recover only 40% of the investment.
SInce then, I have completely stopped lending my hard earned bitcoin and started trading. Remember, bitcoin lending is an online process with no regulatory agency. So if someone stops paying back, there is hardly any way you can get hold of that person and recover that money. So never lend your bitcoins.
SInce then, I have completely stopped lending my hard earned bitcoin and started trading. Remember, bitcoin lending is an online process with no regulatory agency. So if someone stops paying back, there is hardly any way you can get hold of that person and recover that money. So never lend your bitcoins.
forget btcjam or any p2p service. all they'll do is steal from you.
apart from exchange lending, and right now i'm not inclined to trust anywhere, you could look into investing in a casino bank roll. make sure it's an old and established one.
apart from exchange lending, and right now i'm not inclined to trust anywhere, you could look into investing in a casino bank roll. make sure it's an old and established one.
Poloniex is probably the best place to lend if you don't like risk. People get loans in Polo for margin trading (basically multiplying their capital to have higher stakes when they get a coin), and to get a loan, they have to have a certain amount of the loan in their margin account already. If your lent amount + their amount is close to the lent amount, poloniex will automatically sell the coins and repay your loan.
Forum lending is pretty good as well, and offers higher interest for the higher risk.
Forum lending is pretty good as well, and offers higher interest for the higher risk.
Where and how do I lend out coins, with minimum risk ?
Directly on the forum is not the worst idea, but you always have to handle the collecting of the collateral, and i think if we are speaking of micro loans, it is not worth the effort, and big loans, well maby you shouldn´t give out these on a forum where anyone can be anonymous and run with your coins.
Poloniex has a lending section too, but how have they regulated if a user does not pay back ?
I recently discovered btcjam, but I don´t know anything about it.
I would really appreciate it if you can share your experience
A sad story, related to the topic
I once had the idea to create a service, to give out loans and let people invest in this, simmilar to a bank. But then it came to my mind that this won´t be possible because ponzis have ruined this.
Directly on the forum is not the worst idea, but you always have to handle the collecting of the collateral, and i think if we are speaking of micro loans, it is not worth the effort, and big loans, well maby you shouldn´t give out these on a forum where anyone can be anonymous and run with your coins.
Poloniex has a lending section too, but how have they regulated if a user does not pay back ?
I recently discovered btcjam, but I don´t know anything about it.
I would really appreciate it if you can share your experience
A sad story, related to the topic
I once had the idea to create a service, to give out loans and let people invest in this, simmilar to a bank. But then it came to my mind that this won´t be possible because ponzis have ruined this.
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