What is the warranty if I lend some BTC?

audaciousbeing

hero member

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Merit: 569

Quote from: jcdelcasti on April 25, 2018, 01:33:07 PM

Hi! Someone who explain me how can I have a warranty if I lend BTC?

Thanks in advance

Questions like this shows you are not ready for this type of venture because there is enough to read from the forum even by opening thread of requests made, then following how it is filled and repaid with all the drama attached, you have a clue of what its all about. When you also read the sticky thread, you are sure to land on your feet. One sure thing in this line of business is collateral which you must be very smart about as some could sound nice but ended up being worthless. For a start just like what @Vod have said, you need an escrow on standby either to hold the collateral or value the collateral and there lots of people who can help with that if they can establish your genuineness.

Vod

legendary

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Licking my boob since 1970

Quote from: TheUltraElite on April 25, 2018, 02:13:21 PM

Read about the collaterals in the stickies. The only way to stay on top of a borrower is by securing a collateral of value from the borrower. Of course for people whom you know and trust you can try doing non-collateral loans. Still its always safer to accept a collateral to give a loan.

Keep in mind no one will send you collateral directly, as you could simply disappear before sending the loan.

If you have no trade history, you need to use an escrow, which adds to the fees. :/

TheUltraElite

legendary

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So anyway, I applied as a merit source :)

Quote from: jcdelcasti on April 25, 2018, 01:33:07 PM

Hi! Someone who explain me how can I have a warranty if I lend BTC?

Thanks in advance

Read about the collaterals in the stickies. The only way to stay on top of a borrower is by securing a collateral of value from the borrower. Of course for people whom you know and trust you can try doing non-collateral loans. Still its always safer to accept a collateral to give a loan.

Collateral I accept is 120-150%of loan value of any top altcoin. Some also accept domain names as collateral.

jcdelcasti

jr. member

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Merit: 2

Hi! Someone who explain me how can I have a warranty if I lend BTC?

Thanks in advance

Topic: What is the warranty if I lend some BTC? (Read 188 times)