WOULD LOVE TO LEND OTHERS ;) HELP REQUIRED ! - page 2.

--Encrypted--

copper member

Activity: 924

Merit: 1007

hee-ho.

Quote from: cryptosun on July 24, 2015, 05:56:23 PM

thanks for the post buddy.

Sorry but I am a smiley's lover

i will try to use them rearly.

And my friend i am not sure what a valid collateral is it something like escrow?

lol don't worry about the smileys, I was just making a joke. Tongue

collateral is some kind of assurance. the borrower will give the collateral to the lender/escrow. and if the borrower is not able to repay the loan the lender have the right to hold/sell the collateral. basically the collateral will be yours if they default.

you can find what kind of collateral is valid and what is not on this post. bitcointalk accounts can also be used as a collateral, but like I said, not everyone agrees with that way of thinking.

oh, and it is advised to use escrow for holding the collaterals.

cryptosun

sr. member

Activity: 448

Merit: 250

Exchange Your BTC to PM Instantly :)

Quote from: --Encrypted-- on July 24, 2015, 05:46:33 PM

much smileys, such wow.

here's my advice:
for the first few weeks, don't loan anything to other users unless they have a valid collateral that you can sell for 110% (or more) of their loan amount. in that time look around this section for the no collateral loans and learn gradually from them. after that it's up to you whether or not you want to start giving loans without a collateral or not.

I say this because it is hard to understand the no collateral loans if you're still new on bitcointalk. you'll need to learn how to judge users based on their reputation [1] before you start giving them loans without collateral.

[1] some people disagree with this way of thinking and advises others to always ask for a collateral.

thanks for the post buddy.

Sorry but I am a smiley's lover

i will try to use them rearly.

And my friend i am not sure what a valid collateral is it something like escrow?

--Encrypted--

copper member

Activity: 924

Merit: 1007

hee-ho.

much smileys, such wow.

here's my advice:
for the first few weeks, don't loan anything to other users unless they have a valid collateral that you can sell for 110% (or more) of their loan amount. in that time look around this section for the no collateral loans and learn gradually from them. after that it's up to you whether or not you want to start giving loans without a collateral or not.

I say this because it is hard to understand the no collateral loans if you're still new on bitcointalk. you'll need to learn how to judge users based on their reputation [1] before you start giving them loans without collateral.

[1] some people disagree with this way of thinking and advises others to always ask for a collateral.

cryptosun

sr. member

Activity: 448

Merit: 250

Exchange Your BTC to PM Instantly :)

Hello

everyone Its Cryptosun,
I am holding like a good amount of Bitcoins for a longtime since 2 3 years

, I heard lending is a good thing which can also let me make money but i am not familar how to lend because if we lend to unknown people we can be easily scammed

, so i would love to get some thoughts how to lend someone and whats the surety they will pay and also is there any security a lender gets

Your help will be appericiated

Cryptosun

Topic: WOULD LOVE TO LEND OTHERS ;) HELP REQUIRED ! - page 2. (Read 1993 times)