Looking to borrow 1-2 bitcoins. All verifications available.

condoras

legendary

Activity: 3038

Merit: 1104

This is what I do. I drink and I know things.

One of the problems for those who have actually this type of Collateral (and not the type that doesn't and try to scam), is that if they go to a local dealer they ain't going to get BTC. Instead they will get fiat (taxable) and a contract stating and confirms this Loan Agreement. Thus their Loan will be noted. Thus goodbye anonymity.

If someone want to use large items as Collateral in order to get a Loan in crypto, this is the way. The only way.

Quote from: EcuaMobi on January 12, 2018, 10:23:36 AM

You should disclose your city or at least your country. Only people close to you could grant this loan and they would need to see your car and check everything is fine.

warningsigns

hero member

Activity: 896

Merit: 1082

It’s impossible to borrow coins here, let alone the immense amount you suggested, using passports and ID alone to secure the loan. You will need to provide far more solid assurances in the form of collateral which must be appraised first by the lender. The collateral’s value should exceed the loan amount by a margin of about 20 or more % which effectively means, as a minimum, 1.2 x the amount you want to borrow.

If you intend to pledge a car to guarantee the loan, then as mentioned above, a local lender would be the best and only way forward. This is because lenders or a trusted escrow keep the collateral until you repay the loan.

EcuaMobi

legendary

Activity: 1876

Merit: 1475

Quote from: lifestylebym on January 12, 2018, 10:08:49 AM

I have a car worth $45000 which I can offer as collateral but I dont know how that works in practice.

You should disclose your city or at least your country. Only people close to you could grant this loan and they would need to see your car and check everything is fine.
The collateral should be held by a trusted escrow. For this kind of collateral I guess legal documents would be required.

lifestylebym

newbie

Activity: 3

Merit: 0

Sorry I thought it depended on the lender what they require. I thought proof of identity along with employment proof would be sufficient.

I have a car worth $45000 which I can offer as collateral but I dont know how that works in practice.

EcuaMobi

legendary

Activity: 1876

Merit: 1475

Read this:
https://bitcointalksearch.org/topic/edu-the-rule-of-no-collateral-no-loan-ignore-at-your-own-risk-577765

and either offer collateral or lock this topic immediately (bottom left link). Otherwise you'll get negative trust

lifestylebym

newbie

Activity: 3

Merit: 0

I am sorry, I wasn't aware I had done anything wrong. I found this forum while looking at bitcoin borrowing options and it came up as an alternative to bitcoin lending website.

P2Pfinder

full member

Activity: 249

Merit: 109

I think the only thing you will receive are 1-2 red trust or more, Depending by when DT1 members will read this post....

lifestylebym

newbie

Activity: 3

Merit: 0

Hi everyone,

I am looking to borrow 1-2 bitcoins on a relatively short pay pack time. Depending on the terms, pay back in 2-6 months.

I can provide all verification (proof of address, passport, employment, social media etc)

Happy to answer any questions.

Topic: Looking to borrow 1-2 bitcoins. All verifications available. (Read 227 times)