Microlending as a way to get started? - page 2.

techgeek

hero member

Activity: 826

Merit: 1000

Quote from: zeaderza on June 15, 2016, 01:59:53 PM

IS a risky method,some members can use as collateral hacked account.Is a good idea if you only lend money to trust members with a high rank and trust.

You can reduce that risk by a ton based on signatures.

Which most people fail to notice, but thats the only way someone will be able to still be around to lend without being out of business.

Also the length of that signature - on how far it goes back associated with that account.

zeaderza

hero member

Activity: 896

Merit: 502

IS a risky method,some members can use as collateral hacked account.Is a good idea if you only lend money to trust members with a high rank and trust.

wintermeasures

sr. member

Activity: 322

Merit: 250

Quote from: AscendancyEight on June 13, 2016, 09:52:00 AM

So, as mentioned before, I'm relatively new to Bitcoin. I can see that the Microlending system (on this forum, at least) is pretty well set up, with a trust system + collateral and escrow. Would it be a good idea to make some bitcoin lending out very small amounts to users? I could get started with a relatively small amount and only offer loans to very trustworthy members with collateral. Would this be a relatively safe way of making a bit of money? Thank you!

yes, I think it's nice to add to your bitcoin, with its many unmet demand for loans I think this business promises. But you will also be selective in choosing borrowers, because too many fraudster here. Thank you

zydus

newbie

Activity: 14

Merit: 0

Quote from: AscendancyEight on June 13, 2016, 09:52:00 AM

So, as mentioned before, I'm relatively new to Bitcoin. I can see that the Microlending system (on this forum, at least) is pretty well set up, with a trust system + collateral and escrow. Would it be a good idea to make some bitcoin lending out very small amounts to users? I could get started with a relatively small amount and only offer loans to very trustworthy members with collateral. Would this be a relatively safe way of making a bit of money? Thank you!

As long as you will be providing secure loans here, you can sart getting profits with your microloans. Just follow the No collateral no loan policy of the forum so you can be safe from future scam attempts.
It's best if you start with microloans for short time loans like a few days or max weeks and get a % of interest.

dodgrad

hero member

Activity: 1067

Merit: 501

Quote from: AscendancyEight on June 13, 2016, 09:52:00 AM

So, as mentioned before, I'm relatively new to Bitcoin. I can see that the Microlending system (on this forum, at least) is pretty well set up, with a trust system + collateral and escrow. Would it be a good idea to make some bitcoin lending out very small amounts to users? I could get started with a relatively small amount and only offer loans to very trustworthy members with collateral. Would this be a relatively safe way of making a bit of money? Thank you!

Of course it is good idea, but when i was watching lending section, there already is many services like this, so your offer have to be with little % .. and you have to be fast

AscendancyEight

newbie

Activity: 14

Merit: 0

So, as mentioned before, I'm relatively new to Bitcoin. I can see that the Microlending system (on this forum, at least) is pretty well set up, with a trust system + collateral and escrow. Would it be a good idea to make some bitcoin lending out very small amounts to users? I could get started with a relatively small amount and only offer loans to very trustworthy members with collateral. Would this be a relatively safe way of making a bit of money? Thank you!

Topic: Microlending as a way to get started? - page 2. (Read 1253 times)