Topic: [LENDING SERVICE] Lowest Interest Loans - 0.03%/day - Crypto & FIAT - page 2. (Read 2478 times)
October 06, 2019, 06:34:11 AM
Updated!
October 05, 2019, 09:02:37 PM
Heads up, ChrisPop technically has a lower interest rate (0.075% daily for loans 1-10 days and 0.095% daily for loans 10-20 days) for collateralized loans which makes your "Lowest Interest Loans" claim in the thread title invalid.
October 05, 2019, 03:47:21 PM
New loan with mikelsmith2020, agreed on Telegram:
The rate will be lowered depending on the loan duration:
Quote
Currency: BTC
Wallet address: [private]
Loan amount: 0.02
Repayment amount: 0.167% per day
Duration in days: ??
Collateral currency: ZB
Collateral amount: 700
Bitcointalk username: mikelsmith2020
Telegram ID: [private]
Wallet address: [private]
Loan amount: 0.02
Repayment amount: 0.167% per day
Duration in days: ??
Collateral currency: ZB
Collateral amount: 700
Bitcointalk username: mikelsmith2020
Telegram ID: [private]
The rate will be lowered depending on the loan duration:
- 15 to 30 days: 0.133% per day
- 31 to 60 days: 0.100% per day
September 14, 2019, 07:11:57 AM
I got the withdrawal pending on Bitfinex for almost 3 days, support didn't help me at all.
Don't use ZBT wallet on bitfinex.
I had to sell the collateral and I paid back in BTC through another wallet (not from Bitfinex), as agreed with the borrower.
@mikelsmith2020 Thank you for your understanding and patience.
Don't use ZBT wallet on bitfinex.
I had to sell the collateral and I paid back in BTC through another wallet (not from Bitfinex), as agreed with the borrower.
@mikelsmith2020 Thank you for your understanding and patience.
September 11, 2019, 01:31:53 PM
-snip-
Thank you for lending me some BTC. Have a great day!Edit
I received the collateral back, thank you so much and looking forward for our next transaction.
September 04, 2019, 01:16:37 PM
Currency: BTC
Wallet address: [private]
Loan amount: 0.05
Repayment amount: 0.167% per day
Duration in days: ?? (should be less than 1 month)
Collateral currency: ZB
Collateral amount: 2077
Bitcointalk username: [private]
Telegram ID: [private]
Loan filled today 04/09/2019, I'll update when it's repaid.
Wallet address: [private]
Loan amount: 0.05
Repayment amount: 0.167% per day
Duration in days: ?? (should be less than 1 month)
Collateral currency: ZB
Collateral amount: 2077
Bitcointalk username: [private]
Telegram ID: [private]
Loan filled today 04/09/2019, I'll update when it's repaid.
August 23, 2019, 09:57:02 AM
Update: The minimum rate is now 0.10% daily, the minimum collateral is now 110%. And you can borrow EUR or USD!
August 22, 2019, 03:09:17 PM
Take my example and replace USDT by another crypto like ETH, or the opposite (switch BTC and USDT), I should have not taken a stablecoin in my example, even if it's a valid collateral and the scenario is possible.
A crypto loan is usually when you don't have FIAT and don't want to sell your crypto.
STT explained well the principle of the short term loans.
Again, you say "such that when a greedy shark says I pay you 5% interest loans", it doesn't mean 60% yearly, 5% is 5% if there is no time rate.
You can't compare a short term crypto loan to a bank loan, for the bank, you need a bank account, you need a solid purpose for the loan, you need to proove your identity, your address, your incomes, etc... And it's usually for years, I don't know any bank doing anonymous short term (few days) instant loan, if you know, let me know.
Also, does your bank lend crypto?!
Anyway everyone knows there is 12 months in a year or 365 days, so giving the monthly rate or daily rate is enough to know the yearly rate, but here it is for short term loans so it is a way easier and more straightforward to use the daily rate, or the rate for the duration of the loan.
A crypto loan is usually when you don't have FIAT and don't want to sell your crypto.
STT explained well the principle of the short term loans.
Again, you say "such that when a greedy shark says I pay you 5% interest loans", it doesn't mean 60% yearly, 5% is 5% if there is no time rate.
You can't compare a short term crypto loan to a bank loan, for the bank, you need a bank account, you need a solid purpose for the loan, you need to proove your identity, your address, your incomes, etc... And it's usually for years, I don't know any bank doing anonymous short term (few days) instant loan, if you know, let me know.
Also, does your bank lend crypto?!
Anyway everyone knows there is 12 months in a year or 365 days, so giving the monthly rate or daily rate is enough to know the yearly rate, but here it is for short term loans so it is a way easier and more straightforward to use the daily rate, or the rate for the duration of the loan.
August 22, 2019, 12:03:46 PM
I think you don't understand the meaning of a collateral, you are not paying 120% in crypto, it is the guarantee, you can't say "pay".
What you pay is the interests, 5% interest monthly, saying "60%" out of nowhere doesn't mean anything.
I'll give you an example, with big and round numbers so it is easy to understand:
• 1 BTC = 10000 USDT
• You want a 10 BTC loan for 15 days, 5% monthly / 0.167% daily, you have USDT as collateral, so you need to send me:
---> 120000 USDT = 10 * 10000 USDT * 120%
• At the end of the 15 days, you will have to give back the capital (10 BTC) and you will have to pay the interest:
---> 0.2505 BTC = 15 * 0.167% * 10 BTC
• Then I give you back the collateral 120000 USDT.
• So the percent paid on the loan amount is:
---> 2.505% = 0.2505 / 10
Hope it is clear enough
Sure I do understand what collateral is, Jees What you pay is the interests, 5% interest monthly, saying "60%" out of nowhere doesn't mean anything.
I'll give you an example, with big and round numbers so it is easy to understand:
• 1 BTC = 10000 USDT
• You want a 10 BTC loan for 15 days, 5% monthly / 0.167% daily, you have USDT as collateral, so you need to send me:
---> 120000 USDT = 10 * 10000 USDT * 120%
• At the end of the 15 days, you will have to give back the capital (10 BTC) and you will have to pay the interest:
---> 0.2505 BTC = 15 * 0.167% * 10 BTC
• Then I give you back the collateral 120000 USDT.
• So the percent paid on the loan amount is:
---> 2.505% = 0.2505 / 10
Hope it is clear enough
I mean if I had 120K USDT, I'd buy 10 btc, keeping my 20k untouched or using it for other purposes why should I pay any interest to anybody? To remain safe against btc price drops? What about the (more probable) price surges?
Secondly, in banking we don't use daily, weekly, monthly interest rates, it is so confusing, conveniently we use yearly interest rate indexes to have a common terminology such that when a greedy shark says I pay you 5% interest loans we could compare his offer with what a regulated bank offers instead of banging our head over and over against the wall when we discover he means 60% interest per year.
August 22, 2019, 10:46:26 AM
Quote
There is no minimum for the loan amount,
Thats probably the clue to explain how this service fits in the overall scheme of things. If you were to plan to buy a house using such a loan I would not recommend it and there are surely better alternatives as the house itself is used as collateral.
If he is offering to deliver exactly as he promises and its a free market and all terms are understood prior to engaging the loan, there cannot be much complaint really. A short term really low amount loan is useful to some especially on short notice conducted over a forum, these are all special factors that make this quite niche and useful to many.
Quote
does it make any sense
It does make sense in the whole breadth of the market. I've been charged several hundred (in just 40 days right before xmas) for going past my overdraft by just a couple dollars because now the bank had me as an outlaw I guess. Had someone lent me just that little bit needed till I could repay it properly, it would have saved me quite alot of hassle, strife and ultimately work to undo the damage my negligence had done. [The bank never sent me a statement or letter to reflect the charges] August 22, 2019, 09:09:54 AM
I think you don't understand the meaning of a collateral, you are not paying 120% in crypto, it is the guarantee, you can't say "pay".
What you pay is the interests, 5% interest monthly, saying "60%" out of nowhere doesn't mean anything.
I'll give you an example, with big and round numbers so it is easy to understand:
• 1 BTC = 10000 USDT
• You want a 10 BTC loan for 15 days, 5% monthly / 0.167% daily, you have USDT as collateral, so you need to send me:
---> 120000 USDT = 10 * 10000 USDT * 120%
• At the end of the 15 days, you will have to give back the capital (10 BTC) and you will have to pay the interest:
---> 0.2505 BTC = 15 * 0.167% * 10 BTC
• Then I give you back the collateral 120000 USDT.
• So the percent paid on the loan amount is:
---> 2.505% = 0.2505 / 10
Hope it is clear enough
What you pay is the interests, 5% interest monthly, saying "60%" out of nowhere doesn't mean anything.
I'll give you an example, with big and round numbers so it is easy to understand:
• 1 BTC = 10000 USDT
• You want a 10 BTC loan for 15 days, 5% monthly / 0.167% daily, you have USDT as collateral, so you need to send me:
---> 120000 USDT = 10 * 10000 USDT * 120%
• At the end of the 15 days, you will have to give back the capital (10 BTC) and you will have to pay the interest:
---> 0.2505 BTC = 15 * 0.167% * 10 BTC
• Then I give you back the collateral 120000 USDT.
• So the percent paid on the loan amount is:
---> 2.505% = 0.2505 / 10
Hope it is clear enough
August 22, 2019, 08:41:18 AM
Not seeking a loan, just being curious:
How in the hell does it make any sense that I pay you 120% crypto to be eligible to receive a loan in crypto with 60% interest? It looks both stupid and unfair.
And yes, it is 60% interest loan. Gangs pay such loans to desperate people all over the world and yet they don't want any collaterals. just a home address in which their poor family lives.
How in the hell does it make any sense that I pay you 120% crypto to be eligible to receive a loan in crypto with 60% interest? It looks both stupid and unfair.
And yes, it is 60% interest loan. Gangs pay such loans to desperate people all over the world and yet they don't want any collaterals. just a home address in which their poor family lives.
August 07, 2019, 01:44:12 PM
Hello,
What advantage would I have here over a businesses that is operating for years and can be held accountable if anything happens? It seems there are a lot of scammers in here...
I don't understand your question.What advantage would I have here over a businesses that is operating for years and can be held accountable if anything happens? It seems there are a lot of scammers in here...
You can read again the thread, you have all informations you need to compare the advantages with another business. And there is no business like this which will be 100% accountable if anything happens. Anyway I accept escrow so no need to worry if it's about trust. There is a free reputed escrow on the forum, but I can accept any reputable one as long as the borrower pays the fees.
DireWolfM14, if I wanted hide stuff I would have just replied to him on Telegram and not here. Waiting for the next loan request then I'll can post the address I'll use for it! About iwutitan I don't have any solid proof but they use the same scam process, text the same way, and have a really similar Telegram ID (maxwell200 and maxwell644)...
August 07, 2019, 10:54:02 AM
And I think you didn't understand the situation, he's the scammer, he sent me a random transaction ID which was not his and when I told him that, he disappeared and have never been online again.
I accept escrow, also can sign a message with my address if the borrower asks. So in which way it is not trustworthy?
I accept escrow, also can sign a message with my address if the borrower asks. So in which way it is not trustworthy?
I understand that he has attempted to scam you, that's not surprising since almost all newbies asking for a loans are scammers. I was suggesting to you to remain as transparent as possible, because 99% of newbies offering loans are also scammers. You have an older account, but your low rank doesn't instill a lot of trust. Openness and transparency will help you overcome that lack of trust in lower-ranked accounts.
Why moderators don't do anything about these scammers?
Scams aren't moderated. There are too many gray areas and vague scam attempts. Moderators would be busy sifting through every accusation and attempt leaving them no time to moderate. And, if they miss a scam then the victim will want to hold them accountable. Not a very practical system. That's why it's left up to the community to police ourselves.
Shasan already created a flag for maxwell20, if you can prove that iwutitan is a related account DT members will tag it also. Although it looks like iwutitan is already red-tagged for an unrelated issue from 2017.
August 07, 2019, 09:43:09 AM
Hello,
What advantage would I have here over a businesses that is operating for years and can be held accountable if anything happens? It seems there are a lot of scammers in here...
What advantage would I have here over a businesses that is operating for years and can be held accountable if anything happens? It seems there are a lot of scammers in here...
August 06, 2019, 10:24:46 PM
Thanks Sashan for editing your message.
So iwutitan is a scammer too, probably same person (maxwell20). Why moderators don't do anything about these scammers?
So iwutitan is a scammer too, probably same person (maxwell20). Why moderators don't do anything about these scammers?
August 03, 2019, 02:45:47 PM
The person is really a scammer, you can see the reference .
Actually, the scammer is a smart person and try to contact on telegram once post on the bitcointalk so usually people may make mistake like the OP by sending address on telegram.
Actually, the scammer is a smart person and try to contact on telegram once post on the bitcointalk so usually people may make mistake like the OP by sending address on telegram.
Can you edit your message and say that you are talking about Maxwell20 please? It looks like you're talking about me
His name on Telegram is: "Andy Btc"
His Telegram ID was: "mikgog20"
And now it is: "maxwell200"
And now iwutitan asking a loan with the Telegram ID: "maxwell644", and his name there is "Jon Han"
Suspicious... I'm going to be careful, anyway I don't send crypto first and always check the transaction.
It seems to be the same guy, he said he's going to send the collateral, but doesn't do it, I'm waiting for the fake tx id now
August 03, 2019, 02:32:11 PM
Currency: BTC
Wallet address: 16Z735maeHQDYp634BgjXiYoC5Lg6RqBQa
Loan amount: 0.005
Repayment amount: 0.006
Duration in days: 7
Collateral currency: ETH
Collateral amount: 0.5
Bitcointalk username: iwutitan
Telegram ID: @maxwell644
Wallet address: 16Z735maeHQDYp634BgjXiYoC5Lg6RqBQa
Loan amount: 0.005
Repayment amount: 0.006
Duration in days: 7
Collateral currency: ETH
Collateral amount: 0.5
Bitcointalk username: iwutitan
Telegram ID: @maxwell644
Hi, collateral valid.
Loan accepted, we are already talking on Telegram I'll send you more details.
But your telegram ID is almost same as the last user who tried to scam me, weird...
August 03, 2019, 02:28:19 PM
Currency: BTC
Wallet address: 16Z735maeHQDYp634BgjXiYoC5Lg6RqBQa
Loan amount: 0.005
Repayment amount: 0.006
Duration in days: 7
Collateral currency: ETH
Collateral amount: 0.5
Bitcointalk username: iwutitan
Telegram ID: @maxwell644
Wallet address: 16Z735maeHQDYp634BgjXiYoC5Lg6RqBQa
Loan amount: 0.005
Repayment amount: 0.006
Duration in days: 7
Collateral currency: ETH
Collateral amount: 0.5
Bitcointalk username: iwutitan
Telegram ID: @maxwell644
August 03, 2019, 02:19:48 PM
The person (Maxwell20) is really a scammer, you can see the reference .
Actually, the scammer is a smart person and try to contact on telegram once post on the bitcointalk so usually people may make mistake like the OP by sending address on telegram.
Actually, the scammer is a smart person and try to contact on telegram once post on the bitcointalk so usually people may make mistake like the OP by sending address on telegram.
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