Topic: Lending service from newbie - page 4. (Read 1014 times)
GH2022 talk with me if your going to do a loan service give me your contact details so we can discuss have collateral if needed thanks !
I think it is very difficult to start a lending business here without a credible account.
I've been thinking about doing something like this for a long time.
I suppose the idea of offering small loans without guarantees (they are small amounts) to users with good credibility is the only way.
Not to newbies in any case ...
I've been thinking about doing something like this for a long time.
I suppose the idea of offering small loans without guarantees (they are small amounts) to users with good credibility is the only way.
Not to newbies in any case ...
Sounds good.
I had been thinking of doing something similar one day soon - a smaller loan service with Crypto with collateral up to £50.
Hope your idea takes off!
If you escrow money then why do you need a loan?
If you're bullish on Bitcoin, i.e. you don't want to sell your stash but you need some $USD right now, it's a good way to leverage your bitcoin. Many lenders have started to offer stablecoin loans, so that may prompt someone to ask for a loan secured by bitcoin as collateral. Conversely, if you own and are bullish on an alt-coin, but need some bitcoin you could do the same with ETH (for example) as collateral, and borrow BTC.
As you've likely noticed, most of the borrowers who are granted loans are well established members who are granted relatively small loans without collateral.
If you escrow money then why do you need a loan?
I believe an escrow is the only way to secure me and my counterpart for a newbie account.
Yes, I've been a member for a long time, but for other reasons.
If a member has been inactive for a significant amount of time, it can raise concerns as to whether they are the original owner of the account or if they are using a disposable alt account, particularly in the case of newbie accounts.
I "woke up" with this idea only recently and I'm trying to understand if it's possible.
Sure, it's definitely possible to start a lending service as a newbie without a reputation, but you gotta think about it from the borrower's perspective. Why would they choose to borrow from you and risk their collateral when they have more established lenders to choose from? And if you offer a service without collateral, how will you protect yourself from potential scammers? It's important to consider these factors before starting a lending service.
Yes, I've been a member for a long time, but for other reasons.
I "woke up" with this idea only recently and I'm trying to understand if it's possible.
I "woke up" with this idea only recently and I'm trying to understand if it's possible.
No one cares about the age, activity, or rank of your account if you are the one taking the risks. Just don't be a creep, and you'll be able to conduct business without issue. Look at the other "newbies" offering loans recently; many of them are suspected of pretend to give loans to themselves to feign activity and trust. It's obvious and untrustworthy.
Non-secured loans (without collateral) are all up to you, make sure to only give those out to trusted individuals that are unlikely to abscond with your money. If you want to offer secured loans, make sure to contract with a trusted escrow provider. Obviously you need to trust the escrow agent, and so does the borrower. If you expect people to send their collateral directly to you, that makes you look like a scammer waiting for an opportunity. This will change as you gain rank and activity, and the community starts to trust you. But you must be patient, it's not going to happen over-night, or even within a few months. It may take years.
Yes, I've been a member for a long time, but for other reasons.
I "woke up" with this idea only recently and I'm trying to understand if it's possible.
I "woke up" with this idea only recently and I'm trying to understand if it's possible.
Insert sound effects of car skidding then crashing through the "road ends" sign followed by a whistling sound as Wile E. Coyote hurtles to a cataclysmic crash below.
You've just spent the last day or two berating others now you want to offer up your services as a lender? What's the catch?
I'm just going to place this here for future reference:
I think it is very difficult to start a lending business here without a credible account.
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Date Registered: 2018-02-02, 00:22:35
Posts: 27 in 18 topics
Posts: 27 in 18 topics
I've been thinking about doing something like this for a long time.
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5/9/2023 2:55:39 PM woke up
I suppose the idea of offering small loans without guarantees (they are small amounts) to users with good credibility is the only way.
You've just spent the last day or two berating others now you want to offer up your services as a lender? What's the catch?
Not to newbies in any case ...
I'm just going to place this here for future reference:
I think it is very difficult to start a lending business here without a credible account.
I've been thinking about doing something like this for a long time.
I suppose the idea of offering small loans without guarantees (they are small amounts) to users with good credibility is the only way.
Not to newbies in any case ...
When you are lending to someone you need them to get back to you and pay the debt. It's an unknown place, if they never come back then have no option to chase them. For a newbie, not just newbie an old member but does not have much earning (reputation and contribution) from the community has no lose if they never log back to the account after taking your money. As a lender ultimately you lose your money.I've been thinking about doing something like this for a long time.
I suppose the idea of offering small loans without guarantees (they are small amounts) to users with good credibility is the only way.
Not to newbies in any case ...
I have been in lending business and I can assure you that this is not a profitable business at all. One or two bad borrower will take everything from you that you were able to make (profit) from the entire year. Even you will lose money from your principal too.
Without a collateral never think of a lending business.
I think it is very difficult to start a lending business here without a credible account.
I've been thinking about doing something like this for a long time.
I suppose the idea of offering small loans without guarantees (they are small amounts) to users with good credibility is the only way.
Not to newbies in any case ...
To be clear: I haven't started any loan services in this thread.
I've been thinking about doing something like this for a long time.
I suppose the idea of offering small loans without guarantees (they are small amounts) to users with good credibility is the only way.
Not to newbies in any case ...
To be clear: I haven't started any loan services in this thread.
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