hey everyone,
pretty new to crypto in general, figured id start off with lending because it seems fairly low risk.
i lent out a loan on polo with a rate of .0957 but once it completed i saw the rate was actually .000957 - can anyone explain this to me? seems incorrect... screenshot below.
pretty new to crypto in general, figured id start off with lending because it seems fairly low risk.
i lent out a loan on polo with a rate of .0957 but once it completed i saw the rate was actually .000957 - can anyone explain this to me? seems incorrect... screenshot below.
You're still getting the rightful rate that you agreed to, mate.
Percentage wise it is 0.0957%, but if you right it in decimal then it's 0.000957. That's probably what poloniex did to make everything format in a uniform way. Elementary school math.
I see you're lending out BTC, though. First of all, you should not use poloniex AT ALL right now because it is having much difficulty with paying out withdrawals. Secondly, if a chain split occurs, which will likely happen, and your loan is still active during that chain split, then you'll only get the Bitcoin Core tokens back, meaning essentially you lose out on a percentage of your btc interest. Read this: https://www.reddit.com/r/Bitcoin/comments/5zz0a9/poloniex_our_position_on_the_possible_hard_fork/