Topic: To Hodl or Lend: What is your take? - page 8. (Read 897 times)
There are legit company that gives such kind of lend of assets and if you have full trust of it, then it's better to lend than to hold. But if person has a trust issues then better holding the assets is also best of it because you are guaranteed that the assets are safe and sound from our own possessions.
One of the major reasons why bitcoin Enthusiasts hold bitcoin is in anticipation of a price increase that would increase the value of their asset. However, holding your bitcoin requires a patience mixed with strong will. It is the patience to be patient for a long period of time until the price makes a 10%, 20% and so on increase. Strong will not to use it to solve some immediate problem and risk a reduction in your asset. Consequently, not everyone one can wait that is why some decide to learn bitcoin trading so that they can make some quick profit that would also increase their asset holding. Some other become bitcoin lenders. Yes, they use either a centralized or decentralized platform to lend their bitcoin which would be repaid with interest. What is your honest take on bitcoin lending? Too risky, won't try it? Too risky, will give it a try?
Any investor's aim is to make a profit from whatever asset they invest in. If I buy Bitcoin and my aim is to make profit in the crypto industry, lending people Bitcoin or any other coins with collateral is something good, and I see it as a means of making profit in the crypto sector like trading,but theproblem with lending coins out is the issue of trust. It is very hard these days to trust people in the cryptocurrency industry, especially when you don't know them personally or have access to where they will be found. Scammers have occupied the internet, and that is where I see lending as a risky service because some people will not pay back. So for this reason, I will prefer to only hold my bitcoin and be patient enough till I meet my profit target.
Patience is very important for investing. If we cannot be patient with investments then we cannot expect to make profits. We must be patient for certain profits by investing at a certain time. To earn a certain amount of profit, sometimes we may lose some money from our capital, but even if we lose some money from our capital, we have to wait for the profit until we get a certain amount of money and who can wait for this. They are the ones who succeed in the end. And haste can never bring success in business. Rushing is more likely to result in loss than profit as short-cut halving will never bring value for your money.
If I really want to make money out of anything by lending it out it will not be Bitcoin, I have to use a separate fund to buy Ethereum and stake it or lend it out for some rewards over time, it's true that there is no point holding your coins in your wallet for years when you can make more coins but I just don't like the idea because it's risky.
There's no difference either you use Bitcoin or Ethereum, if you stake your coins, it mean you're taking a risk to lose all of your coins. This mean you're still want to stake your coins, but with small amount of money.if asked to choose to hold or lend my bitcoin, I prefer to hold it, even when the loan has collateral and a few percent interest. why is that? because I don't want the assets that I hold to be in the hands of other people, and when I need them, I can't sell or withdraw them directly.
You're not making any sense. If the borrower give a valid collateral, you don't need to worry because you can sell it if he can't pay back the loan. Usually the collateral is more valuable or expensive than the amount you lend, so you're making a profit.
I believe that bitcoin lending can be an intriguing opportunity for those seeking to maximize their asset holdings. It offers an alternative avenue to generate additional income through interest repayments. However, it's important to carefully assess the associated risks and choose reliable lending platforms. In this regard, I recently came across an interesting article discussing the future of global money transfers and the potential role of crypto remittances. It sheds light on the advantages of cryptocurrencies, such as faster transactions and lower fees. You might find it insightful too. Feel free to check it out and share your thoughts on how crypto lending could contribute to the evolving financial landscape.
What is your honest take on bitcoin lending? Too risky, won't try it? Too risky, will give it a try?
I believe it's too risky, and you might miss the opportunity to benefit from the skyrocketing price of your Bitcoin. When you lend your Bitcoin, you send the coin to the borrower with the expectation of its return based on agreed-upon terms. However, not all the time are these terms followed due to various circumstances. Therefore, it carries significant risk because while you can potentially make a substantial profit when the price increases by, let's say, 300%, you won't be able to sell it because you've lent it out. It's a matter of managing the risk. It's fine to lend, but it's important not to lend everything you have. Moreover, if it's an unsecured loan, it becomes even riskier on your part.
What is your honest take on bitcoin lending? Too risky, won't try it? Too risky, will give it a try?
I believe it's too risky, and you might miss the opportunity to benefit from the skyrocketing price of your Bitcoin. When you lend your Bitcoin, you send the coin to the borrower with the expectation of its return based on agreed-upon terms. However, not all the time are these terms followed due to various circumstances. Therefore, it carries significant risk because while you can potentially make a substantial profit when the price increases by, let's say, 300%, you won't be able to sell it because you've lent it out. It's a matter of managing the risk. It's fine to lend, but it's important not to lend everything you have. Moreover, if it's an unsecured loan, it becomes even riskier on your part.
Lending only gave me trauma even in real life, so I'd rather hodl my Bitcoin than to lend it to someone online that I didn't even know personally which makes it more risky. I think it's good if they always pays back on time, but it'll just gives you stress and frustration if they are not even paying you back. Hodling is much more better since you're at ease knowing that your money is just there, waiting for the bull run and make a lot of profits by patiently waiting.
So true. At least with Hodl and storing it in cold Wallet we can feel calm. Because we have kept it pretty good and safe. And keep trying to increase the quantity of our bitcoin holdings by continuing to do DCA regularly. And we don't have to think too much about the fluctuations that occur in the short term because we only focus on the long term. and well it's more convenient to do. and at least our psychological burden is also not too heavy when we invest in the long term (Hodl).And I also prefer to avoid anything related to borrowing or lending. unless my heart really feels called to help someone.
What is your honest take on bitcoin lending?
It's just BS. Bitcoin is already profitable enough in itself to give up your private keys for a small extra percentage of profitability. It's not worth it, it doesn't make any mathematical sense.
The best thing to do with Bitcoin is long term B&H, for at least one cycle, or DCA. When I say minimum one cycle I don't mean sell it all in the next cycle, you can sell a small part of your holdings. On how to accumulate over time and make partial sales at certain times, JayJuanGee has detailed explanations in several forum threads that, in my opinion, are very accurate.
What happens is that the most profitable and safe thing to do is boring, which is not usually liked by eager traders or lenders.
One of the major reasons why bitcoin Enthusiasts hold bitcoin is in anticipation of a price increase that would increase the value of their asset. However, holding your bitcoin requires a patience mixed with strong will. It is the patience to be patient for a long period of time until the price makes a 10%, 20% and so on increase. Strong will not to use it to solve some immediate problem and risk a reduction in your asset. Consequently, not everyone one can wait that is why some decide to learn bitcoin trading so that they can make some quick profit that would also increase their asset holding. Some other become bitcoin lenders. Yes, they use either a centralized or decentralized platform to lend their bitcoin which would be repaid with interest. What is your honest take on bitcoin lending? Too risky, won't try it? Too risky, will give it a try?
if asked to choose to hold or lend my bitcoin, I prefer to hold it, even when the loan has collateral and a few percent interest. why is that? because I don't want the assets that I hold to be in the hands of other people, and when I need them, I can't sell or withdraw them directly.
I am a holder, not a lender. indeed it's a win-win, but just imagine when the bitcoin is lent to someone else, meaning we are waiting for it to be returned, while no one can predict the momentum of the bitcoin price. imagine when the bitcoin price rises and your bitcoin is still in someone's hands other? you will lose the momentum to sell it which can generate bigger profits. not to mention that the risk of the lending platform going bankrupt, it also needs to be considered. that's why I prefer to hold it in my wallet.
Lending is too risky because there are really instances where you won't get paid back, and now your bitcoin is gone. I haven't tried this bitcoin lending either. I don't see any problem with why holding is difficult for some because you are just holding it. I think the problem with this really is the owner of it, who is too greedy and not patient enough to wait for the price increase because they always want to earn profit overnight. I do prefer holding or trading bitcoin to lending, as I am held accountable for it, unlike lending, over which I have no control.
One of the major reasons why bitcoin Enthusiasts hold bitcoin is in anticipation of a price increase that would increase the value of their asset. However, holding your bitcoin requires a patience mixed with strong will. It is the patience to be patient for a long period of time until the price makes a 10%, 20% and so on increase.
It's a win-win situation.You will learn how to be patient, and being patient can be applied in all aspects of life. At the same time, while learning it, you have the potential to earn more thru just holding Bitcoins. On the other hand though, 10-20% increase only happens when the bull run starts, and in a normal day, that doesn't happen.
Consequently, not everyone one can wait that is why some decide to learn bitcoin trading so that they can make some quick profit that would also increase their asset holding.
When I'm very impatient, I tried trading way back a few years ago. Ending is I lost all of my Bitcoin.Some other become bitcoin lenders. Yes, they use either a centralized or decentralized platform to lend their bitcoin which would be repaid with interest. What is your honest take on bitcoin lending? Too risky, won't try it? Too risky, will give it a try?
Too risky, and I will not try it at all.I don't know, but is there any centralized platform that offers P2P lending? I mean there are some DEX'es out there who have lending feature like AAVE, COMPOUND etc.
I tried lending out Bitcoin to users here already, but one loan default made me a decision not to do it anymore. Yes it wasn't either CEX or DEX, but lending in general isn't worth it for me compare to just holding it, and hoping for the bull run to happen again. Another risk is the collateral that the borrower gives. What if the price of the collateral goes down? You can't force the borrower to pay the Bitcoin as well, so you will lose your money.
Well, I guess if anybody here really wants to lend their money then I guess using DEX'es would be the best choice.
What is your honest take on bitcoin lending? Too risky, won't try it? Too risky, will give it a try?
It is too risky because there's always a possibility that you'll not be repaid to the loan you've given. Lending is solely for people who are willing to take the risk and aware of the consequences if ever the borrower didn't pay. I experienced to be a lender (though it's fiat) many times and got disappointed because some people are never true to their words. So if you can't bear losing your money then lending is not for you.Due to this I will chose to just hold my Bitcoin rather than to lend it to increase my holdings. Because it's less stress on my part incase worst thing happened. So I think it depends for each of us. But if you want to be a lender it's wise to ask for a valid collateral so you have assurance.
Yea you can never go wrong with holding. Buying on a weekly or monthly time-frame is always great or buying big dips too.
Lending only gave me trauma even in real life, so I'd rather hodl my Bitcoin than to lend it to someone online that I didn't even know personally which makes it more risky. I think it's good if they always pays back on time, but it'll just gives you stress and frustration if they are not even paying you back. Hodling is much more better since you're at ease knowing that your money is just there, waiting for the bull run and make a lot of profits by patiently waiting.
Most lending platforms require the user to hold said funds to cover those losses anyway. Now locking up funds on any exchange or platform has its inherent risks especially as of lately with FTX and other fallouts. I would look to defi or decentralized staking ect.
When taking up some loan on some exchangers on which it is really that common that they would really be asking some coins which does have that 120% more of value of the possible loan amounton which you couldnt really even assure the safety of those coins for long time or depending on the terms of the repayment that you have chosen. About the risks then its risky on lending someone
randomly on the internet.
It would really be just that right that you would really be asking for some collateral as long it does have value or something valid which is mostly be talking with some top altcoins or simply Bitcoin
on which you could really be able to make deal with. When running a lending business then you would really be needing to take risks if you cant really afford or having no patience on
waiting up for too long before you could gain up 100%. This could be possible on lending but the risks is more than or compared when you do make hold on.
What is your honest take on bitcoin lending? Too risky, won't try it? Too risky, will give it a try?
I am neutral when it comes to Bitcoin lending since I am a person who doesn't want to take advantage of other people's needs, I might not try a lending service because it is too risky for me since I won't be putting any interest if someone borrowed or loan money from me.
Lending money risk can be mitigated by asking for collateral, in case the borrower defaults, the lender will have access to an asset that can cover some if not all the loans defaulted by the borrower.
Most lending platforms require the user to hold said funds to cover those losses anyway. Now locking up funds on any exchange or platform has its inherent risks especially as of lately with FTX and other fallouts. I would look to defi or decentralized staking ect.
What is your honest take on bitcoin lending? Too risky, won't try it? Too risky, will give it a try?
I don't know what to think in the future. but for now I feel it's too risky. i prefer to avoid it.And about being Hodl I don't think it's just about patience. But it also depends on what funds we use to invest in these bitcoins for the long term. If we only use the leftover money every month after we have finished meeting all our life needs and it is money that we really don't need in the near future. then in a situation where money is used like this, someone will be calmer in investing it in bitcoin.
And this is also about our confidence in what we have assessed and analyzed from the potential of bitcoin itself. if we believe bitcoin has a good future. then there is no reason for us to worry about our assets shrinking just because the market is bearish. because we are sure that one day in the longer term eventually bitcoin will give us big profits. financial strength, patience and mentality and trust. that's what we need.
Well, the first thing is to know your trade.
You can't rush into lending when you've got no idea on how it works. I've seen quite a few Legendary members on the forum offering lending services and though I've never been in the position to take crypto loans and hope not, I am sure they take a lot into consideration like, determining the value of the account, credit score and the known wallet of the user forum wise.
These are some criterias as I sense it possible.
Even with these, am not sure it's a service I'll like to offer. I don't even have that much to give away and not very sure how the services works but, I find if very risky especially due to the nature of cryptocurrencies.
You can't rush into lending when you've got no idea on how it works. I've seen quite a few Legendary members on the forum offering lending services and though I've never been in the position to take crypto loans and hope not, I am sure they take a lot into consideration like, determining the value of the account, credit score and the known wallet of the user forum wise.
These are some criterias as I sense it possible.
Even with these, am not sure it's a service I'll like to offer. I don't even have that much to give away and not very sure how the services works but, I find if very risky especially due to the nature of cryptocurrencies.
besides, it is hard to trust nowadays. here in the forum, we all know that lenders always check the background of the borrower first before they send. even higher rank members have been rejected depending on their track record. also, better hodl, less headache and you know very well, you still have your funds in case you need it.
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