Would you lend in cryptocurrency? - page 6.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

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 depends on who will ask for a loan to me. If I knew that person closely, I will loan him but not for big money because I will think about how he will go to pay the loan. I don't want to give another trouble for lending big money to him, and I don't want to give the money without I can get that money again. I will try with some money to test it for a while and if he can give the money back, then maybe I will lend him some other money. I think I will give him fiat so he can buy any coins he wants.

Ayiranorea

sr. member

Activity: 1246

Merit: 255

Leading Crypto Sports Betting & Casino Platform

I'll lend bitcoin with terms and conditions. If I give one bitcoin, I will request respective collateral equal to that value of bitcoin. Further will be the ROI based on the time period required for returning the amount. Beyond this if the value has declined or increased while returning the fund needs to be returned in terms of USD equal to the time at which it was borrowed.

dimox

legendary

Activity: 1610

Merit: 1003

nope. because no one know about bitcoin. if there someone know about it, i think they dont know how to cash it. if they know about it and how to cash it, im sure he will keep than cash it, because is there chance to get high value than he lend.

riso2015

sr. member

Activity: 1246

Merit: 254

Trphy.io

I personally will not give loans in Cryptocurrency because Crypto prices are volatile so it tends to change the value of the assets we lend. I prefer to lend money to people who need it, I'm more comfortable with it.

lighpulsar07

sr. member

Activity: 518

Merit: 271

if i have enough money then Yes but i would require collateral for it and since we are in the internet i only accept altcoins as collateral and it must be 120 percent but i don't have any money to start with though. Anyway, i wouldn't advise to apply for loan in cryptocurrency or fiat since it you would ruin your financial capability.

Republikcoin.com

legendary

Activity: 2716

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

if I am forced to borrow in cryptocurrency, I might choose a stable coin compared to others. that's because the return will be quite easy, and the amount doesn't go up and down. when I borrow to another cryptocurrency, I'm afraid the price will suddenly go up and it's hard to pay. so, I chose to replace it with a stable coin. and if I lend someone cryptocurrency, I might choose a stable coin with the same reason as I thought.

NathanJB

sr. member

Activity: 756

Merit: 251

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)

With a good interest and if the rest of the terms and conditions are great, why not? And another important factor is that the borrower has to be a trusted one. Because whatever terms and conditions are agreed if the borrower is not an honest one and does not have plans to honor the agreements and pay the loan, everything will be a waste. I will choose the coins that are low in fees and fast in confirmation.

fosco333

full member

Activity: 1260

Merit: 100

I think it is a bit risky to borrow money in the form of cryptocurrency.
When the borrower borrow some coins in low price, they will have to pay in same amount without regarding the price.
If the price when they borrow lower than when they return, the borrower will have to pay more money.

kidbounty

full member

Activity: 1064

Merit: 101

HELENA

it's easier to use Stablecoin like tether because the price is stable. borrowing / giving loans using other coins will only make you lose. crypto is very high fluctuating and it can be after you give a loan / borrow the price of the coin that changes. Stablecoin is the best choice, which can be used for that.

PuertoLibre

legendary

Activity: 1890

Merit: 1003

Quote from: Hamphser on October 16, 2019, 02:25:04 PM

Quote from: J1mb0 on October 16, 2019, 02:15:00 PM

Sometimes I still lend money to my friends with cryptocurrency, the electronic currency I use to lend is Ethreum. I chose Ethereum simply because it's fast and in my country it's very easy to sell into cash.

It is easier to lend your money to someone specially if you knew who it was since you can guarantee that they will pay you in no time.

To me lending crypto is easy of course if know who will going to lend it. This is some kind of low-key business to me or partially making money while earning and accumulating bitcoin primarily.

It's still not bad though since I've got a limited customer only. Grin

The disadvantages of the fluctuating value of the cryptocurrency affect the profitability of crypto lending businesses. The passive income can ruin the business of the lender if the borrowers don't pay in the time. Knowing the consequences and having calculated risks will ensure the profits in case of having a trustworthy business partner. It is not bad to lend in altcoins but the collateral rate should be over the 120% AFAIK.

Ferris419

hero member

Activity: 1008

Merit: 501

Lending in cryptocurrency is a very common matter in our country. We have a group where we do crypto lending, talk about crypto and transact in peer to peer systems. Usually, we do crypto lending in Bitcoin and Ethereum, I always prefer these two coins. Though we don't count the USD value, we do only care about the Satoshi value. So, if the price goes up or down, it causes no effect at all. I don't like the stable coin in lending, they feel not real crypto.

nxnqauff

member

Activity: 840

Merit: 17

PG-PAY Gold Backed Token

Some project is saying this but never seen in reality. Nobody take this risk as well. The risk on both sides are extremely high.

bonyaserg

jr. member

Activity: 1876

Merit: 5

Personally, on this occasion, I could lend cryptocurrency. But it all depends on whom you can borrow. I can only lend to trusted people in whom I am 100 percent sure that this cryptocurrency will return. And with such successes, you can delay proven people.

Hamphser

sr. member

Activity: 2604

Merit: 338

Vave.com - Crypto Casino

Quote from: J1mb0 on October 16, 2019, 02:15:00 PM

Sometimes I still lend money to my friends with cryptocurrency, the electronic currency I use to lend is Ethreum. I chose Ethereum simply because it's fast and in my country it's very easy to sell into cash.

It is easier to lend your money to someone specially if you knew who it was since you can guarantee that they will pay you in no time.

To me lending crypto is easy of course if know who will going to lend it. This is some kind of low-key business to me or partially making money while earning and accumulating bitcoin primarily.

It's still not bad though since I've got a limited customer only. Grin

boltz

legendary

Activity: 3388

Merit: 1205

If I would had a lot of coins in order to make lends why not ? I mean every user who takes a lend it offers a collateral so the risk involved is minimum.Besides this , you gain more in profits in time , depends how many lends are you offering and what amounts and for what number of days as this statistics bring you profits.

I would offer lends only in bitcoin to be sure that I keep accumulate the profits in bitcoin and in time if other cryptocurrencies are performing good , Ethereum looks like a good option as well.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

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)

I wont, there have been several attempts in the past to create a platform where users could give loans to each other and those platforms failed and this was because scammers will use the anonymity that cryptocurrencies bring to their advantage and when you add that once you send your coins to a wallet you do not control them and you cannot get those coins back then it becomes even more dangerous to lend cryptocurrencies.

Just take a look at the lending section of the forum and you will see that most of those willing to lend their coins need collateral and charge high interests to try to offset the risks they are incurring by their lending practice.

J1mb0

hero member

Activity: 983

Merit: 502

Sometimes I still lend money to my friends with cryptocurrency, the electronic currency I use to lend is Ethreum. I chose Ethereum simply because it's fast and in my country it's very easy to sell into cash.

adaora2323

jr. member

Activity: 344

Merit: 1

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)

Humm...I doubt Lending projects ever go well. Well maybe there is any successful lending project out there that am not aware of.

yulchatar

full member

Activity: 910

Merit: 100

No, I wouldn't do this, since it is risky for both parties - for borrowers (cryptocurrency volatility) and for investors. For me, as an investor, the risk is fraudsters who can easily cheat and provide fake data about themselves.

Upgate

member

Activity: 560

Merit: 14

Am a cryptocurrency user that's is just one fact so it all depends on if the borrower am willing to lend money uses cryptocurrency as well so yes I can lend in cryptocurrency and if the person needs it in cryptocurrency then it would likely be bitcoin or ethereum

Topic: Would you lend in cryptocurrency? - page 6. (Read 2616 times)