What about Kucoin lending service? | Bitcointalksearch.org

zazarb

legendary

Activity: 3374

Merit: 1548

Get loan in just five minutes goo.gl/8WMW6n

Quote from: pierr on October 31, 2021, 12:06:01 PM

Hi i was wondering about if anyone get any experience on Kucoin lending service.
Till 73% of interest on your coins loaned, is it realistic of just a lark mirror?

I tried to lend stablecoin with 0.086% of daily interest, it seem to work for the moment.

I am not familiar with Kucoin exchange, but if it works on the same principle as poloniex, it's possible in short time such or even bigger %, I know from my practice.
Everything is determined by supply and demand, with a shortage of funds, interest rates rise sharply.

pierr

member

Activity: 64

Merit: 15

Hi examplens,
I cannot find any full explanations about this service even in help/newbies lending Kucoins' page. So, thank you for u replies.

Last question: if you choose a much higher Daily Interest Rate, for instance 0.08% by default, like 0.5% you'll get less chance to be choosen by a borrower? But if it works its bingo?

examplens

legendary

Activity: 3248

Merit: 3098

Quote from: pierr on October 31, 2021, 12:06:01 PM

Hi i was wondering about if anyone get any experience on Kucoin lending service.
Till 73% of interest on your coins loaned, is it realistic of just a lark mirror?

I tried to lend stablecoin with 0.086% of daily interest, it seem to work for the moment.

whoever offers you 73% of interest, should know that something is wrong here. it is unrealistic to even on an annual basis. most likely inflation or a fall in value will eat up all your expected profits and at the end of the investment period, you will have less money than at the beginning. this is the most common situation with 3rd class coins.
there may be some hype in the meantime, but you won't be able to use it because your coins are reserved.
Kucoin has a pretty good reputation for now, but it is part of their services and anyone with enough money can be a list on their landing dashboard.

pierr

member

Activity: 64

Merit: 15

Hi i was wondering about if anyone get any experience on Kucoin lending service.
Till 73% of interest on your coins loaned, is it realistic of just a lark mirror?

I tried to lend stablecoin with 0.086% of daily interest, it seem to work for the moment.

Topic: What about Kucoin lending service? (Read 110 times)