What is p2p lending - page 2. | Bitcointalksearch.org

Indamuck

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Quote from: Crypdon on April 15, 2019, 02:33:38 AM

The risk is on the lender more than the bank, after delivering the coins there isn't much of a chance of getting them back unless legally secured against a valuable asset

The majority of people get credit without collateral. They hand out credit cards like candy to anyone with a pulse. Most people pay back or at least attempt to, lenders make money off volume. Of course there will always be a few people that can't repay but they work on averages.

Ailmand

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Quote from: btccredit_io on April 15, 2019, 02:45:50 AM

Quote from: Ailmand on April 15, 2019, 01:49:46 AM

Quote from: btccredit_io on April 15, 2019, 01:37:55 AM

https://medium.com/@info_60688/what-is-peer-to-peer-lending-6d714dadc4e2
An article on peer to peer lending by Btccredit to explain the proposition of lenders and borrowers.
Do share your comments and suggestions.

I think it's more convenient to use p2p lending thank banks. However, with regards to security traditional lending is more secured than p2p lending. P2P lending cuts off interes rates from the bank plus service charge or fees. A lot of p2p lending had popped-out in our country, it's really easy to apply and it only takes hours or days to be approved. The lender takes higher risk since there's no way or limited ways for them to verify credibilty when it comes to timely payment.

You are right. Were the new p2p lending based on crypto or just fiat based?
And about the risk of lender in p2p lending we are offering crypto collateral for borrowers before lending them. This will be not needed in future when users develop their credibility with their successful transactions.

Currenlty they are just offering fiat. What lacks on their system is the collateral. They only require KYC and necessary documents, the first loan is just small just like 20$ payable within 15 days with an interest of 10%.
Once clients paid his/her first loan they can get higher loan amount on their next loan.

In this part, lender is at risk, a lot of clients are not paying them on their first or second loan. Lender won't even bother reporting this since the cost of filing a case and hiring a lawyer will cost more than the loan. Grin

shield132

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Banks are the worst thing but I highly doubt p2p lending has any future, especially with cryptocurrency. One day price is x, another day - y and this diffetence can hugely affect any lending company which plans to take care of thousand people.
Let's say truth, no one likes taking loan and we usually take when really need but also consider the fact that usually demand is from people who can't pay back. With p2p lending, risks of lender is huge, so logically demand will be very, very low. Also p2p has nothing to do with fees, I can set high pay interest, doesn't matter it's bank or p2p, I can set. So in this aspect, banks are and still will be leaders.

btccredit_io

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Quote from: Astvile on April 15, 2019, 04:26:35 AM

P2p way of lending money i think is alot reliable then lending money from the bank,in p2p lending you can talk about the rates of interest and not be forced to pay in huge interest.Compared to bank where you need to pay huge fix interest rate

Exactly, the borrower gets the right to decide his rates and so does the lender.

Astvile

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P2p way of lending money i think is alot reliable then lending money from the bank,in p2p lending you can talk about the rates of interest and not be forced to pay in huge interest.Compared to bank where you need to pay huge fix interest rate

btccredit_io

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Quote from: Crypdon on April 15, 2019, 02:33:38 AM

The risk is on the lender more than the bank, after delivering the coins there isn't much of a chance of getting them back unless legally secured against a valuable asset

I would like to mention here that on our platform there is a system that borrower has to deposit a collateral in Bitcoin or BTCC tokens, then only he can get loan. So the lender's fund is safe. Our goal is to ensure the fund protection and help others in need.

btccredit_io

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Quote from: Ailmand on April 15, 2019, 01:49:46 AM

Quote from: btccredit_io on April 15, 2019, 01:37:55 AM

https://medium.com/@info_60688/what-is-peer-to-peer-lending-6d714dadc4e2
An article on peer to peer lending by Btccredit to explain the proposition of lenders and borrowers.
Do share your comments and suggestions.

I think it's more convenient to use p2p lending thank banks. However, with regards to security traditional lending is more secured than p2p lending. P2P lending cuts off interes rates from the bank plus service charge or fees. A lot of p2p lending had popped-out in our country, it's really easy to apply and it only takes hours or days to be approved. The lender takes higher risk since there's no way or limited ways for them to verify credibilty when it comes to timely payment.

You are right. Were the new p2p lending based on crypto or just fiat based?
And about the risk of lender in p2p lending we are offering crypto collateral for borrowers before lending them. This will be not needed in future when users develop their credibility with their successful transactions.

Crypdon

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The risk is on the lender more than the bank, after delivering the coins there isn't much of a chance of getting them back unless legally secured against a valuable asset

traderethereum

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According to Wikipedia:

Quote

Peer-to-peer lending, also abbreviated as P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers.

So it will work on the internet, and it doesn't need a high cost of offering the service. Besides that, the P2P Lending can reach in many places over the world so people in other countries can try to lend some money and the other can borrow the money. I think there is a broker of P2P lending in out there, but I don't know which one is recommended.

Ailmand

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Quote from: btccredit_io on April 15, 2019, 01:37:55 AM

https://medium.com/@info_60688/what-is-peer-to-peer-lending-6d714dadc4e2
An article on peer to peer lending by Btccredit to explain the proposition of lenders and borrowers.
Do share your comments and suggestions.

I think it's more convenient to use p2p lending thank banks. However, with regards to security traditional lending is more secured than p2p lending. P2P lending cuts off interes rates from the bank plus service charge or fees. A lot of p2p lending had popped-out in our country, it's really easy to apply and it only takes hours or days to be approved. The lender takes higher risk since there's no way or limited ways for them to verify credibilty when it comes to timely payment.

btccredit_io

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https://medium.com/@info_60688/what-is-peer-to-peer-lending-6d714dadc4e2
An article on peer to peer lending by Btccredit to explain the proposition of lenders and borrowers.
Do share your comments and suggestions.

Topic: What is p2p lending - page 2. (Read 318 times)