Topic: Would You Ever Take Out a Loan in Bitcoin? - page 2. (Read 7213 times)

I've considered it. But what a friend told me from his experience with BTCJam is that you want to make sure everything, including future income, is practically guaranteed because the members tend to jump all over you if you're late with a payment even once.

I've taken out several Bitcoin loans. Not sure whether I am just an awesome trader or just lucky but I was able to make a profit off most of those loans as well.
I don't recommend taking a loan out unless you are sure you can pay it back. In my case I have the income but its always been a PITA to purchase Bitcoin. In most cases the loans offered better rates than purchasing the BTC off LBC and didn't require me to go on some absurd quest to meet the LBC sellers ridiculous requirements(scanning docs, going to certain banks, video chat over skype). The Bitstamp process takes about week to turn fiat into BTC. I tell the lender the date I plan to pay the back and start the Bitstamp process a week before to make sure the coin is ready come due date. Sometimes I get lucky and someone on LBC is in a rush for $ and will accept Interac Email Transfer. In that case I have coin within 30mins but its rare to find a seller on LBC willing to accept that method of payment who doesn't have insane rates or wants my first born.
Assuming you are legit and can offer collateral to the lender then its not a bad route to take if you want BTC same day. BTCjam isn't a bad option either but the lenders on here are much easier to deal with and require far less hoops to be jumped thru.

Sometimes I do it. But  I don't do it in long terms.
1 Month tops for repayment. Also I invest in bitcoins and cash out in bitcoins so I can repay my loans as bitcoins. I don't care the fiat value of it.

I've never had a loan in my life aside from my mortgage & one credit card. If I ever needed a loan though then I absolutely would be willing to take it out via bitcoin. If the repayment interest was less than a bank loan then why wouldn't anybody take out the loan via bitcoin rather than via a bank? If something is cheaper & you get the same service then do it, obviously

But then we are back to square 1 and nothing has ever changed.

Bitcoin must bring full innovation everywhere, if you desperately want the old system, then just use that and quit bitcoin.

But if you want bitcoin embraced ,then you have to stop thinking in the old fashioned way. Bitcoin is capable of much more in the future.

i think i would take out some loan
because i want to build my new business
but iam not sore that i would take out a loan in bitcoin

I have never this but in near future I can take one because I am busy with some project and trying to complete with my own if its happen then ok otherwise I can take one from any where

I think taking a loan is not a bad idea if you are confident enough that u will return it back.... and we should always take loan which we can return even if lose the loan amount

If I needed a loan and for some crazy reason my bank cut my overdraft, or family members couldn't/wouldn't lend me then I would have no problem taking out a loan in bitcoin if I could get one. By the looks of it if I needed that should be my first choice because of the smaller % interest compared to fiat loans.

I think that loans is a bad idea.
If you want some bitcoin you should buy. Even if its 0.1 btc to start ( its only 25 dollars, everyone can afford it). And then try to earn with that.

I've never done bitcoin loan, I was afraid that if after borrow I could not return it, and also to be burdened by interest

its depend who are given that loan for me, if my friends given to me as a loan i would take it but if not it that mean take out a loan on btcjam or something else i would not take it

Yeah ofcourse i would accept it if they agree to give.
I'm in need of it.

Didn't took it yet.
But thought of trading it.

I would take if I wanted to use it to do bitcoin-related things, like open a BTC business or buy before a bubble, or if I had no credit elsewhere.


But the interest rates of BTC loans are too high and long-terms offers(the ones you'll do monthly payments once a month for X times, like bank loans) are hard to get, so I never took a BTC loan and would never take if not in extreme circumstances

yes i have taken lots of loan(not in this forum) and i have returned them back in time, i usually take loan of small amount which i can repay... so it been a good experience until now

Let me know too. I would go for a loan only and only If I can trust him. As it is very difficult here to find a trusted person who can guarantee you that your coins will be safe in the future. And if he ensures then would definitely take a loan from bitcoins.

What user did you use to get the BTC loan? I would like to take one. Is there a list of trusted people in which you can trust to act as escrows for loans? last thing I want is gambling with this.. i'd rather go to da dice if I wanted to gamble.

But you have to be very sure before you go out there for a loan as high risk is involved in taking a loan in bitcoin as there are chances the person run away with your bitcoins so my advice is trade with someone you personally know.

I've taken a couple of loans on the forums, mostly due to the fact that I needed BTC quickly, and my only option of converting from fiat to bitcoin is using a wire transfer to the exchange, which usually takes days. It's easy to get a loan as long as you have reasonable collateral. Without collateral, I would say you shouldn't bother.