Would you lend in cryptocurrency? - page 4.

rawdog11

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Quote from: maxitdev on October 16, 2019, 09:50:21 AM

Would you give a loan to borrowers in cryptocurrency?

If yes, in which cryptocurrency:
- Bitcoin
- Ethereum
- Stablecoin (please tell us in which)
- Libra
- Maxit (https://maxicreditcompany.com/whitepaper.pdf)
- Other (please tell us in which)

Yes, I would lend in crypto, my rules are pretty straight forward when I do so (to people I trust). I get paid back the equivalent amount of crypto. So if I loan someone 0.05BTC then I expect to be paid back 0.05BTC no matter what the USD value of it is at the time. Same goes for any other currency I lend in no matter the altcoin. If someone wants 5 LTC then they will pay me back 5 LTC.

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Quote from: TelolettOm on October 22, 2019, 08:53:54 AM

Quote from: Taskford on October 17, 2019, 05:41:37 AM

Why not? If I really need to do it so that I can stretch up my investment amount then I will do it but the only thing important is you know how to pay on time and don't run since I'm pretty sure that there will be a karma will come for you in future. But actually I never lend to anyone here yet since I don't need to do it for now but maybe in future let see how things goes.

Not right if we make loans only for investment. because investment itself is done with money that is already not related to needs. if we still have needs and also have not been fulfilled then certainly not the value of our investment cannot be forced to large.especially if we come to borrow just because of investment. what if we actually lose this investment?

Yeah, when we invest, that must come from the free money we have so it will not disturb any of the needs in our daily life. If we can do that, I think we will get an excellent return, but that will depend on the type of investment we make. As long as we can choose bitcoin as the primary investment, we will make the biggest profit in the future. But take a loan will not be a good idea to do because you need to repay the money monthly.

TelolettOm

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Quote from: Taskford on October 17, 2019, 05:41:37 AM

Why not? If I really need to do it so that I can stretch up my investment amount then I will do it but the only thing important is you know how to pay on time and don't run since I'm pretty sure that there will be a karma will come for you in future. But actually I never lend to anyone here yet since I don't need to do it for now but maybe in future let see how things goes.

Not right if we make loans only for investment. because investment itself is done with money that is already not related to needs. if we still have needs and also have not been fulfilled then certainly not the value of our investment cannot be forced to large.especially if we come to borrow just because of investment. what if we actually lose this investment?

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Quote from: maxitdev on October 16, 2019, 09:50:21 AM

Would you give a loan to borrowers in cryptocurrency?

If yes, in which cryptocurrency:
- Bitcoin
- Ethereum
- Stablecoin (please tell us in which)
- Libra
- Maxit (https://maxicreditcompany.com/whitepaper.pdf)
- Other (please tell us in which)

It is risky to lend money in cryptocurrency especially when you do not know well who the person is. Cryptocurrency is not regulated so, there will be no centralized body that will manage and ensure that your money will come back. It will be difficult also to get a worthy collateral to strangers. Lending money in cryptocurrency would be a great idea only if there is a good system or procedure that will oversee the activity to keep the safety and interests of both parties thus, avoiding scams.

huu78

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I wouldn't lend in a project. Where it is very risky the borrower to bring a run out of our money.
So, in my opinion, it is at risk. But if I'm familiar with that I lend I'll lend using Ethereum or stablecoin like USDT.

SamboNZ

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Quote from: desticy on October 17, 2019, 01:31:35 PM

I am not a supporter of loans at all, and I do not advise anyone to take them.
What is the point of taking a loan in cryptocurrency if you can not immediately spend this money but will wait for growth to be more profitable to sell, and then a decline to give a loan.
All this will be overwhelmed by manipulations both on your part and on the part of the structures issuing loans.
I doubt that this will improve someone's life.

There are certain times that you need money but you love your altcoins/tokens, so much that you can't sell it, thats the time loans are there to help which helps you get cash but you need collateralize your precious coins.
--
I prefer to loan take loans in ETH because of the fast confirmation time.

Obito

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Quote from: maxitdev on October 16, 2019, 09:50:21 AM

Would you give a loan to borrowers in cryptocurrency?

If it someone I know trustworthy I may be able to lend him/her some money in crypto if the borrower is familiar in crypto currency and its characteristics. In addition, it would be tough to let the borrower let his/her decision in an amount of money to be converted in crypto as the payment because crypto price tend to change overtime. It is just a matter of me losing much more a lot based from the conditions or I may be gaining more than the money I let the borrower borrowed.

tenakha

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Quote from: maxitdev on October 16, 2019, 09:50:21 AM

Would you give a loan to borrowers in cryptocurrency?

If yes, in which cryptocurrency:
- Bitcoin
- Ethereum
- Stablecoin (please tell us in which)
- Libra
- Maxit (https://maxicreditcompany.com/whitepaper.pdf)
- Other (please tell us in which)

If that was my job, yes, I would. Not only one of those listed, I used to lend most of them with different interest. For example, I would use standard interest in stable currencies, but those with volatile prices would be higher. But I would not do business without collateral, there are plenty of bastards who can take advantage of it.

Bitcoin, Ripple, Ethereum, Litecoin, Monero, EOS - A few of the coins that I would lend.

tabas

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It's even happening in the forum but as much as I want to lend somebody, I don't have the spare budget to do it but if I'm capable of it. I don't mind lending any of those coins as long as the borrower is eligible and capable of paying and passed base on my standards.
In real life, if it would be my friends or relatives, I'll say no honestly.

wxa7115

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I think, in this forum there are some people who loan and use cryptocurrency. But in real life, actually i have close friend who borrow me 0.05BTC when price is less than $1000 i guess, for now he always want to pay it in fiat, and use rate that he borrow in past. When want to lend people in crypto, make sure they accept any rate that come when they want to pay. If not, they wouldn't pay much if price increased.

I have never lent to anyone any amount of cryptocurrency but it seems that your problem is commonplace, this show to us the lack of understanding common people have about how money works, if I lent a pen to a person I expect to get back the same pen and if I lent some bitcoin to someone I expect to get that same bitcoin and even a little bit more for the risk I am taking by lending him that money, but they want to return to you the value of bitcoin in fiat at that moment.

And that is a scam, in the past I have seen icos trying the same with some level of success until someone after doing the math realized he was being robbed.

Youghoor

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Personally I don't really have any problem regarding the idea of lending in cryptocurrency but the only challenge I see this facing will be the value of the cryptocurrency u loan out. Assuming you loan 0.05 BTC when the market value was $8k, I don't think the person will be happy to pay back at a rate of $15k since he will be paying more than he took....

ivan1975

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Now CoinMarketCap made new section where you can see the annual interest rate for lending crypto on different platforms:
https://interest.coinmarketcap.com/currencies

desticy

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I am not a supporter of loans at all, and I do not advise anyone to take them.
What is the point of taking a loan in cryptocurrency if you can not immediately spend this money but will wait for growth to be more profitable to sell, and then a decline to give a loan.
All this will be overwhelmed by manipulations both on your part and on the part of the structures issuing loans.
I doubt that this will improve someone's life.

barnes13

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Of course I prefer to lend it in the form of a stable coin. Because if I lend in the form of Bitcoin, Ethereum and so on it has a higher risk of loss because the price of the coin/token is very volatile. However, if I lend it in the form of stable coins it will be more profitable because the price of coins will remain stable even though in bear market conditions and I will also get a definite interest rate.

uray

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Quote from: Furryball on October 17, 2019, 12:33:52 AM

shit will always happen when i don't get my money back and some humans are addicted to not paying debts

Shit can always happen and i liked the line that humans are addicted to not return the debts Cheesy

. That is somewhat true when you are lending money to family and friends and i have bitter experience when you ask to return the loaned amount their attitude changes as if i am asking loan from them and hence i stopped loaning money to anyone too as it will attract more enemies.

SummerBliss

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Quote from: maxitdev on October 16, 2019, 09:50:21 AM

Would you give a loan to borrowers in cryptocurrency?

If yes, in which cryptocurrency:
- Bitcoin
- Ethereum
- Stablecoin (please tell us in which)
- Libra
- Maxit (https://maxicreditcompany.com/whitepaper.pdf)
- Other (please tell us in which)

Yes of course i would like to lend my money in the form of crypto to the borrowers with safety.I would lend in btc although the risk is high because if the price goes down then i would suffer loss due to loan amount being decreased but still risks gives you desired profits.Interest rates will be seperated and price risw will be profit.There are stable coins but its value remain same and you get only interest which you can get in fiat lending also.So returns are low in that case.

ivakar

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i did it couple times.
so I lend about 0.5 btc to a friend of mine, he returned exact same amount after few month.
it was just a friendly support without any interests, he just paid fee for transfers

so for me it is very fast and solid way to support friends who is in trouble or just need some money

Taskford

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Why not? If I really need to do it so that I can stretch up my investment amount then I will do it but the only thing important is you know how to pay on time and don't run since I'm pretty sure that there will be a karma will come for you in future. But actually I never lend to anyone here yet since I don't need to do it for now but maybe in future let see how things goes.

strunberg

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Quote from: pamsugas on October 17, 2019, 04:39:41 AM

of course the safest is stablecoin because the value will not change. the most trusted stablecoin at the moment is USDT. borrowing with a different value in my opinion would create a risk for the borrower and lender

that's good choice if we use stable coin as our lending.if we take in bitcoin or altcoin its very risky if suddenly its price drop alot.for example if we borrow bitcoin on rate 10k, and when time to return its price drop we will lost our money to recover its differences.except if we used to trade and able doubled, no matter with rate changes.

lienfaye

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I will only lend my crypto to someone I know and not for strangers.

Honestly I prefer to keep it rather than use it to earn extra. If you're someone that I know and you're in need I will lend you my crypto without interest.

Bitcoin or eth are my option if ever.

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