Topic: [SOLVED] Suggestions to grow my Bitcoin (Read 229 times)

Poloniex is a nice exchange, but either a lot of people have figured out that lending is nice profit, or the bear trend has caused many to just hodl.

https://poloniex.com/lending#BTC

The rates are atrocious, constantly less than 0.006%, so for a 100 btc you make 0.006 btc in profits.... It's really way too competitive for a decent profit, and in case someone gets burned through his margin position, you're not going to get your profits and your original sum is going to get returned forcefully.

To OP, it's hard to make money from money if you don't have a lot of it. Try finding a source of income that doesn't put your existing small capital at risk.

I think that one option you have is lending at Poloniex or such. Maybe the income is not that big and probably you need to get KYC with Poloniex, but the chances you get screwed are much smaller.
I am saying about Poloniex because I did some lending there a couple of years ago and it was ok back then. I don't know how is it now.

Lending is good, but I won’t really recommend as you have not tried that. I think you should go for something else which is not at all in your list.

Instead of looking for making your bitcoins to grow, why not buy some bitcoins from your other resources, now that the price is down and then store them in a wallet till the bull run comes and the value will increase. Long term trade is the best and easiest way for you to make money through cryptocurrency, since there have been a lot of predictions that the price of Bitcoin will go up. So just go for that. Or maybe you can try other stuffs, cause there are plenty stuffs for you try and don’t look for quick money or else you might lose.

Please do not forget, bitcoin itself a safer and ever growing investment. When we do not have enough options for growing bitcoins, I believe we must focus on getting bitcoins from other resources so that we may have decent amount of bitcoins well before another bull run.

I have roughly 0.15 BTC. What do you guys recommend for me to invest in? So far I've considered these options:

• Freebitcoin's 5% per annum - Roughly 1.7K sats daily
• Casino bankrolls - Very slow, often seeing negative profit everyday
• Lending - Haven't tried this so far

Don't you consider to trade? it's also risky but if those are your only options, go with the low risk type of investment with your choice.

If you're going to get an escrow, you should have one rule that the borrower shall shoulder the escrow fee. But if you are too generous enough you can deduct that to the interest and cater it for your borrower.

Don't worry, I'll definitely request for an escrow because of the status.

I think that there is another exchange where you can do that, but unfortunately I don't know which.

Imho the lending subforum is the most risky. There are a lot of people asking for money, but there are already many that want to lend.
And many want to scam. From providing collateral they can steal from you to collateral they've already gave to others too, from not giving back the money on time to neg you if you sold the collateral.
Also you are "only" Member and some would think that because you are "only" member maybe you cannot be trusted to hold the collateral.

Maybe it's just my distrust in people and maybe I'm too negativistic, so you better ask for others' opinion.

I think that there is another exchange where you can do that, but unfortunately I don't know which.

I looked up Poloniex and reviews seemed to be a mixed bag; particularly fees and interest rates. Like you said, lots of things might have changed by now.

What do you reckon of the Lending subforum here?

I think that one option you have is lending at Poloniex or such. Maybe the income is not that big and probably you need to get KYC with Poloniex, but the chances you get screwed are much smaller.
I am saying about Poloniex because I did some lending there a couple of years ago and it was ok back then. I don't know how is it now.

This is a must read for bitcoin users. Poloniex allows you to lend bitcoins to others trading on margin. In theory, Poloniex will try to protect you from losses by forcing a person to liquidate if they're taking a beating.

This is not true.

I've tested lending one bitcoin over the last two weeks. That one bitcoin has gone from one bitcoin to .81 bitcoins now. That's a two week loss of 0.19 bitcoins. If I kept lending for a full year, I would have 0 remaining of the bitcoin at that rate.

Interest rates must reflect the risk associated with lending and Poloniex's users don't seem to get this. In addition, due to these losses and how quickly they've piled up, Poloniex needs to re-evaluate cutting a margin traders losses much earlier. Make no mistake: Poloniex still gets their fee, while I got the loss.

It was a good experiment, but DO NOT lend bitcoins on Poloniex. The interest rates do not reflect the risk. In order to offset losses, interest rates should be over 150%.

Spread this to anyone considering lending their bitcoins - they will lose in time.

Guys, the purpose of this is to warn new people who make think that lending on Poloniex is 100% safe. Based on my experience, it's not. Whether you agree or disagree, I think we all agree that if we have a bad experience we should caution new users on this. I don't want new people to lose bitcoins, like I did, when they think something is guaranteed, but it's not. Also, this is not FUD because this says nothing about the value of bitcoin; this is about Poloniex. Stop with the "this is a FUD post" - no it's not a FUD post because bitcoin is strong and awesome.

Lending - Haven't tried this so far