Loan business here how - page 2. | Bitcointalksearch.org

BitDane

sr. member

Activity: 1372

Merit: 348

Quote from: Newyork777 on June 04, 2023, 09:31:26 AM

Any adivece ?
How much i can earn ?

How much you earn is dependent on how much interest you charge. It is pretty much self explanatory and only needed a simple mathematics to calculate the diffrence (profit) between the ininital loan that you will grant and the payable amount with interest.

Quote

Should i ask collateral always ?

It is advisable to ask collateral since you do not know the person who will ask for a loan here in the forum. But some old lender had given and exemption to the account that is enrolled in signature campaign paid weekly in BTC.

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How can i improve my service ?

You can start by planning and creating terms and compare them to the existing lending service here: https://bitcointalk.org/index.php?board=65.0. Of course borrower likes smaller interest so try to think of a competitive interest that can entice borrower to taking your service.

Also, please take not of many scammers that will take advantage of your service. Many had been recorded that after borrowing huge amount of money, they defaulted on the loan and abandon the account they used for borrowing.

sunsilk

hero member

Activity: 3038

Merit: 634

Quote from: Newyork777 on June 04, 2023, 09:31:26 AM

How much i can earn ?

Look at the Lending section on how much most lenders are asking as their profit for every loan they're giving to borrowers. Observe and compare on how many percentage they add on top of the loaned amount.

Quote from: Newyork777 on June 04, 2023, 09:31:26 AM

Should i ask collateral always ?

For those that you don't trust, it's a yes.

But if the person that you're giving loan is reputable in the community, you can give the loan without asking for collateral as the reputation of theirs is gonna be your guarantee.

If you don't like that then always ask for it.

Potato Chips

hero member

Activity: 2786

Merit: 902

yesssir! 🫡

Quote from: Newyork777 on June 04, 2023, 09:31:26 AM

Should i ask collateral always ?

I'd say it depends on how much risk you can take. If you want to minimize it as much as possible, then ask for mandatory collateral however collaterals must go to a reputable escrow otherwise, you'll just appear shady af given your rank. Here is a list: https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897

I suggest to get familiar with the trust system first (ideally, the whole forum) specially if you'll be doing no-collateral loans since you'll be basing that on overall account standing - basically just an assessment on how likely are they to pay you back/not run away.

Hyphen(-)

hero member

Activity: 1050

Merit: 747

Quote from: Newyork777 on June 04, 2023, 09:31:26 AM

Any adivece ?
How much i can earn ?
Should i ask collateral always ?
How can i improve my service ?

As a newbie, I will advise you to stay focused and get insight about this forum first before you venture into the lending service.

Read the forum rules and regulations before you can start, although a good reputation is needed for lending services.

You can visit the lending service section for more information.

israt1@

member

Activity: 924

Merit: 18

https://imgur.com/yw8HFn9

You must consider good people. To consider good people, you can consider those who have higher rank and no red tag. Create a topic stating what conditions you want to give.

https://bitcointalk.org/index.php?board=65.0

Saint-loup

legendary

Activity: 2604

Merit: 2353

Quote from: Newyork777 on June 04, 2023, 09:31:26 AM

Any adivece ?
How much i can earn ?
Should i ask collateral always ?
How can i improve my service ?

If you want to make a business with that, you need to build a reputation first, because people can be scammed by you with their collaterals, so they need to trust you. A good way to build it, is to offer loans(with collaterals) with very low rates first, or loans with normal rates but without collateral. In this case you will need to assess the risk of defaulting from the borrower in order to offer an appropriate rate. Usually active users with high ranks not red tagged are less likely to default, especially if they are doing signature campaigns.

un_rank

hero member

Activity: 644

Merit: 661

- Jay -

Quote from: Newyork777 on June 04, 2023, 09:31:26 AM

Any adivece ?

To run a lending service you need to build your reputation and be as professional as possible in your service. There is already quite a few lenders on the forum with high reputation, competing with them is a challenge, more so for an unknown newbie.

Quote from: Newyork777 on June 04, 2023, 09:31:26 AM

How much i can earn ?

Depends on your interest %, it ranges for different services. And how many people actually use your service.

Quote from: Newyork777 on June 04, 2023, 09:31:26 AM

Should i ask collateral always ?

If you are asking this question then do so. Appraising those requesting a loan to determine who to offer a no collateral loan and who not to would complicate your service, you might also not be able to recover from the loss of a defaulted loan.

- Jay -

Newyork777

newbie

Activity: 7

Merit: 0

Any adivece ?
How much i can earn ?
Should i ask collateral always ?
How can i improve my service ?

Topic: Loan business here how - page 2. (Read 390 times)