Would you lend your cryptocurrencies?

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

Quote from: so98nn on June 23, 2023, 12:26:33 PM

Giving a normal persons opinion I would say crypto lending is risky business so far. You have to have strong collaterals to safe guard your money. You would be crypto lender so you would never know who is on the other side of lending bucket. Once you plot proper strategy then think about the % interest and recovery methods.

Indeed a very risky business.

Whether it's crypto or fiat lending, it's totally a risky business that I wouldn't get in. I have thought that this is all profitable but looking at many situations that happened for many lenders, I don't think that I can take that risk they're taking.

Those that have been on this business on the long time are good with this business but I am sure that they've also dealt with a lot of best of the best borrowers and also worst of the worst individuals.

Blitzboy

hero member

Activity: 1316

Merit: 561

Leading Crypto Sports Betting & Casino Platform

Quote from: nullama on June 21, 2023, 11:17:03 PM

Lending to me is more reasonable to do with fiat.

I personally wouldn't lend any Bitcoin at all, even if the interest that some companies are showing might be tempting to some. The risk of losing it all is just too much. Not worth the risk in my opinion.

With fiat they can simply print more anyway, but Bitcoin is irreplaceable.

With due respect, your jitters around Bitcoin lending might be a bit over the top. Indeed, Bitcoin's volatility brings the heat, but remember, in the financial arena, high risks often score high rewards. Even your go-to fiat currency isn't immune to losses. Factors like inflation, economic turbulence, and currency downfall can knock out the value of your hard-earned money over time. The printing press run by governments can lead to currency devaluation - a low blow to lenders and borrowers. Bitcoin, with its max supply, steps into the ring resilient against these odds. Thus, I politely dispute your viewpoint - Bitcoin lending might just be a high-risk, high-reward strategy in the investment game.

so98nn

hero member

Activity: 2114

Merit: 603

I think you should ask this question to experience person in the field. As of now I believe dark star can guide you the best on this matter. He has given more loans than we could ever imagine and has been in the lending business since very long.

Giving a normal persons opinion I would say crypto lending is risky business so far. You have to have strong collaterals to safe guard your money. You would be crypto lender so you would never know who is on the other side of lending bucket. Once you plot proper strategy then think about the % interest and recovery methods.

cryptodude

member

Activity: 224

Merit: 11

Tontogether | Save Smart & Win Big

It depends a lot on how much risk you can handle. I have never tried lending platforms though. The decision to lend cryptocurrency is a personal one that depends on a difference of factors, including tolerance and knowledge of the lending platform and trust in the borrower. However, if you don't like managing your own funds with your own resources, these platforms can be used, but the risk here is relatively high. Engage in the lending process by thoroughly researching the lending platform, understanding the security measures and considering the several terms and conditions.

nullama

hero member

Activity: 1008

Merit: 960

Lending to me is more reasonable to do with fiat.

I personally wouldn't lend any Bitcoin at all, even if the interest that some companies are showing might be tempting to some. The risk of losing it all is just too much. Not worth the risk in my opinion.

With fiat they can simply print more anyway, but Bitcoin is irreplaceable.

synchronym

full member

Activity: 504

Merit: 163

Quote from: m2017 on September 12, 2022, 12:05:23 PM

Quote from: Rigon on September 12, 2022, 09:55:49 AM

Quote from: ATSgrowth on June 25, 2020, 07:24:30 AM

Hi guys, as many of you as I also would like to "do" something with my crypto funds that I held in my crypto wallet. For a few months, I still think if crypto loans really work and there is a very very low risk of losing my funds. I would like to ~~borrow~~ lend my cryptocurrencies with an interest. Blockfi offers up to 8.5% interest p.a. and there are more competitors, but would you 100% trust them? Earning few percent per year vs. losing the big amount of cryptocurrencies fund?

Trusting people with cryptocurrency is very risky. There is nothing you can do if someone cheats on you.Because you don't know them and just trust them.But it can be borrowed if you know a person or team.Even then I think it is not right to give someone a loan in cryptocurrency.Because why be an enemy of people by giving your cash to people.It is better not to be an enemy than to be an enemy.

That's right, it's very risky and makes you helpless to influence the situation if you lend your cryptocurrency to someone. It is easy to give, but it is not easy to return what is given. I'm guessing you can lend cryptocurrency to people you know and trust, but it's best if you document the deal and the terms of the deal. Moreover, legally, so that there is an opportunity to influence the fulfillment of obligations.

The desire for more and more has no limits. OP, cryptocurrency so allow you to make a profit. Is this not enough for you? Well then, be prepared to bear double risks if you lend them.

Those of us who trade in cryptocurrencies know that there are some risks involved in trading in crypto currencies. But I don't think lending cryptocurrency is right. If you want to lend the maximum you can help him is through cash. And can give maximum cooperation about crypto currency. And if you lend him crypto currency then you have to take a lot of risk to lend to you but in the end the result will not be very good.

bettercrypto

sr. member

Activity: 1498

Merit: 271

DGbet.fun - Crypto Sportsbook

Quote from: m2017 on September 12, 2022, 12:05:23 PM

Quote from: Rigon on September 12, 2022, 09:55:49 AM

Quote from: ATSgrowth on June 25, 2020, 07:24:30 AM

Hi guys, as many of you as I also would like to "do" something with my crypto funds that I held in my crypto wallet. For a few months, I still think if crypto loans really work and there is a very very low risk of losing my funds. I would like to ~~borrow~~ lend my cryptocurrencies with an interest. Blockfi offers up to 8.5% interest p.a. and there are more competitors, but would you 100% trust them? Earning few percent per year vs. losing the big amount of cryptocurrencies fund?

Trusting people with cryptocurrency is very risky. There is nothing you can do if someone cheats on you.Because you don't know them and just trust them.But it can be borrowed if you know a person or team.Even then I think it is not right to give someone a loan in cryptocurrency.Because why be an enemy of people by giving your cash to people.It is better not to be an enemy than to be an enemy.

That's right, it's very risky and makes you helpless to influence the situation if you lend your cryptocurrency to someone. It is easy to give, but it is not easy to return what is given. I'm guessing you can lend cryptocurrency to people you know and trust, but it's best if you document the deal and the terms of the deal. Moreover, legally, so that there is an opportunity to influence the fulfillment of obligations.

The desire for more and more has no limits. OP, cryptocurrency so allow you to make a profit. Is this not enough for you? Well then, be prepared to bear double risks if you lend them.

Then I can only add, the one who lends cryptocurrency must be prepared for the risk that he can face here, especially if he does not know and anonymous the borrower. Just like the lenders here on the forum, they know the risk they can face with the majority of members here on the forum platform.

But even though they know the risk, they also have consequences for those who cannot fulfill the obligation of a borrower or borrower of cryptocurrency on time.

Fuso.hp

sr. member

Activity: 490

Merit: 294

I may not be able to give you detailed investment ideas but I don't think it is beneficial to invest in these online platforms by taking loans. Taking a loan on these matters may or may not be a good decision for you. Because now you are thinking that if you invest you will get guaranteed profit but real market is not like that. Anything can happen in the real market. This year when the market went to 31 thousand dollars many people bought bitcoins but now the market is 26 thousand dollars that means those who invested in bitcoins during 31 thousand dollars have now lost. If any of them have taken loans and invested, think about their situation. How will he repay his debt now? So I think you can decide other than taking loan.

Patrol69

sr. member

Activity: 686

Merit: 286

Since you will give loan through online, you have to give various conditions to the borrower in terms of giving the loan. you have to give him all kinds of conditions that you feel trustworthy to give him the loan. There are many scammers who will accept all your terms and apply for a loan from you but you must be careful and do your due diligence.

Before extending the loan to the borrower, be sure to document some documents so that you can submit them later if he defaults on the loan. It is definitely better to avoid newbie members when it comes to lending.

Dewiana

member

Activity: 533

Merit: 60

#SWGT PRE-SALE IS LIVE

Quote from: slapper on June 25, 2020, 11:49:31 PM

Trusting other people is one of the hardest things to do in this world. People always try to steal others money and they can not stop their greedy to do good things. It reminds us the big problem which can not be solved yet in the decentralized system as well as the blockchain: Byzantine generals problem

Everything happens cause of humans themselves. Therefore, I would rather have a loan on Bitcointalk with those who have default trust. However, if I have a chance, I will test their platform in order to know whether they are trustful or not

Lending our crypto assets to other people is certainly risky, in terms of lending and borrowing, you have to be completely honest after that make a clear agreement, and we have to see the person who borrowed it managing the same as managing personal assets means not carelessly. we should just avoid lending them and it's better if we sell them instead lend it

coupable

hero member

Activity: 2338

Merit: 757

Who can object to making profits from money in savings through an offer to lend and obtain interest? Unfortunately, this is not easy at all, since central platforms that provide such services cannot be easily trusted, and at the same time unknown applications cannot be trusted, especially if they were recently launched.
The experience of launching the lending service on the forum is considered the best and safest, but of course this requires great knowledge of the forum and how to set conditions and rules for the service, as all lenders do. The matter is not as easy as anyone might imagine, but if someone is really interested in this, I advise him to visit the lending section on the forum and follow up on these topics.

Quote from: Bitcoin_people on May 09, 2023, 01:06:25 AM

I haven't tried taking loans on Nevar platforms [1] yet and I don't have much experience about it. If you lend your money and get interest percentage from it then it is definitely a good sign. But if you give loans on these platforms then you must be careful because there will be many scammers who will ask you for loans. But you need to be aware of them so that you don't fall prey to scammers in the future. If you want, you can visit the forums of many lenders, follow them and gain knowledge from them.
https://bitcointalksearch.org/topic/lending-service-started-usdtbtcltcethdogeetc-5030169[2]

[1] Personally, I had never heard of the Nevar platform before, and I did not find any information about it on the Internet after I did a quick search. Are you sure of the domain name you provided? If there is a platform for borrowing, please tell us about it and your experience with it, as you may find interest from some here.
[2] Why add a link to the link? Can you just paste it without having to url it using bbcode?

@sriyan

member

Activity: 469

Merit: 13

Quote from: ATSgrowth on June 25, 2020, 07:24:30 AM

Hi guys, as many of you as I also would like to "do" something with my crypto funds that I held in my crypto wallet. For a few months, I still think if crypto loans really work and there is a very very low risk of losing my funds. I would like to ~~borrow~~ lend my cryptocurrencies with an interest. Blockfi offers up to 8.5% interest p.a. and there are more competitors, but would you 100% trust them? Earning few percent per year vs. losing the big amount of cryptocurrencies fund?

Most of the savings/lending platforms are centralized. You know what happened to the NEXO platform. My suggestion is to find a decentralized platform to do lending or savings.

Litzki1990

sr. member

Activity: 1386

Merit: 406

On what terms do you want to lend or on what basis are you interested in lending? If you make a loan, how much interest will you charge on that loan? If you have taken the initiative to provide loans then definitely avoid scams as many will want to take money from you and not back that money. Since you are giving loan through online then definitely based on certain documents before giving loan then you give loan so your money can come back to you safely.

CryptopreneurBrainboss

legendary

Activity: 2408

Merit: 4282

eXch.cx - Automatic crypto Swap Exchange.

I'll prefer not to lend my cryptocurrency unless there's going to be another strong cryptocurrency as collateral and it must be a well established cryptocurency like Ethereum, there's so many things that can go wrong when cryptocurency are lended without collateral and we have seen them unfold on the forum when people default and run away with the lenders coins. When that happens the best the forum can do is to tagged the account but that doesn't bring back the coins that were lost. Lending is a very risky business both on and off the forum so instead of encouraging people to join the business, it's best they continue holding their cryptocurrency.

If you think making use of exchanges or those centralized lending platforms will help matters, don't forget that lots of those defi lending and borrowing platforms are constantly getting hacked and closing down. Exchanges aren't the best option either since it's not wise to store your coins on exchanges or make use of other service that will mandate you to store your coins on exchanges. They're the most focus target for hackers and often they succeed and steal millions of customers funds which there's no guarantee of getting back your money when that happens.

Porfirii

legendary

Activity: 1932

Merit: 2354

The Alliance Of Bitcointalk Translators - ENG>SPA

I have thought about lending my savings for a good annual profit before, but even in the case the platform you lend your cryptos is well known and stablished, I don't think it is worth the risk. We all know famous cases, from MtGox to FTX, not to count Cryptopia and many others in between, and even if the interest offered is much higher than those any traditional banking will offer to you, in the end you are paying for them somehow by accepting a very high risk you may not be aware of.

I know that an alternative can be decentralised services for lending and if the risk is much lower there I think that I should re-evaluate my thoughts. On the other hand, I know some staking services for certain cryptos (ICONex for ICX works fine for example) and if staking is more safe than lending, then it can be a good idea to sacrifice a percentage of the profits for the peace of mind. The bad thing is that high staking returns exert a selling pressure on the coin in question to some extent, but if you trust the project and think long term, it can be a complement to one's investment strategy.

Bitcoin_people

sr. member

Activity: 700

Merit: 380

🎗️🍁🎭

I haven't tried taking loans on Nevar platforms yet and I don't have much experience about it. If you lend your money and get interest percentage from it then it is definitely a good sign. But if you give loans on these platforms then you must be careful because there will be many scammers who will ask you for loans. But you need to be aware of them so that you don't fall prey to scammers in the future. If you want, you can visit the forums of many lenders, follow them and gain knowledge from them.
https://bitcointalksearch.org/topic/lending-service-started-usdtbtcltcethdogeetc-5030169

Mr. Magkaisa

sr. member

Activity: 938

Merit: 303

Quote from: ATSgrowth on June 25, 2020, 07:24:30 AM

Hi guys, as many of you as I also would like to "do" something with my crypto funds that I held in my crypto wallet. For a few months, I still think if crypto loans really work and there is a very very low risk of losing my funds. I would like to ~~borrow~~ lend my cryptocurrencies with an interest. Blockfi offers up to 8.5% interest p.a. and there are more competitors, but would you 100% trust them? Earning few percent per year vs. losing the big amount of cryptocurrencies fund?

- If I'm the only one to follow, Instead of putting your crypto assets in blockfi, it's better to use Binance exchange
if that's what you want to happen to your assets.

Because of binance, when they see that you have assets staked on their platform, as long as you enter the minimum stake amount of 100$, it will be easy for them to approve the crypto loan if you want to apply for such a program that the Binance platform has.

And it can be said that Binance is safer and more comfortable to use than blockfi although it is only my view and opinion.

jaberwock

legendary

Activity: 2660

Merit: 1074

Quote from: m2017 on September 12, 2022, 12:05:23 PM

Quote from: Rigon on September 12, 2022, 09:55:49 AM

Trusting people with cryptocurrency is very risky. There is nothing you can do if someone cheats on you.Because you don't know them and just trust them.But it can be borrowed if you know a person or team.Even then I think it is not right to give someone a loan in cryptocurrency.Because why be an enemy of people by giving your cash to people.It is better not to be an enemy than to be an enemy.

That's right, it's very risky and makes you helpless to influence the situation if you lend your cryptocurrency to someone. It is easy to give, but it is not easy to return what is given. I'm guessing you can lend cryptocurrency to people you know and trust, but it's best if you document the deal and the terms of the deal. Moreover, legally, so that there is an opportunity to influence the fulfillment of obligations.

The desire for more and more has no limits. OP, cryptocurrency so allow you to make a profit. Is this not enough for you? Well then, be prepared to bear double risks if you lend them.

It is easy to get but not easy to return. This is the common sickness of those people who love to borrow money from someone else. That is why a collateral is invented so that lenders have an assurance that the borrower will come back because if not then his collateral will be liquidated.

Proposing a legal document also helps like the borrower will sign a waiver, that if he won't pay on time then something bad will happen to him like he will get arrested by the authorities. Better if the op will be contented on the cryptos that he hodl as it could still bear him profits when the market returns to normal. Being greedy to earn more, is not good.

m2017

legendary

Activity: 1792

Merit: 1296

Crypto Casino and Sportsbook

Quote from: Rigon on September 12, 2022, 09:55:49 AM

Quote from: ATSgrowth on June 25, 2020, 07:24:30 AM

Hi guys, as many of you as I also would like to "do" something with my crypto funds that I held in my crypto wallet. For a few months, I still think if crypto loans really work and there is a very very low risk of losing my funds. I would like to ~~borrow~~ lend my cryptocurrencies with an interest. Blockfi offers up to 8.5% interest p.a. and there are more competitors, but would you 100% trust them? Earning few percent per year vs. losing the big amount of cryptocurrencies fund?

Trusting people with cryptocurrency is very risky. There is nothing you can do if someone cheats on you.Because you don't know them and just trust them.But it can be borrowed if you know a person or team.Even then I think it is not right to give someone a loan in cryptocurrency.Because why be an enemy of people by giving your cash to people.It is better not to be an enemy than to be an enemy.

That's right, it's very risky and makes you helpless to influence the situation if you lend your cryptocurrency to someone. It is easy to give, but it is not easy to return what is given. I'm guessing you can lend cryptocurrency to people you know and trust, but it's best if you document the deal and the terms of the deal. Moreover, legally, so that there is an opportunity to influence the fulfillment of obligations.

The desire for more and more has no limits. OP, cryptocurrency so allow you to make a profit. Is this not enough for you? Well then, be prepared to bear double risks if you lend them.

Rigon

sr. member

Activity: 994

Merit: 441

Quote from: ATSgrowth on June 25, 2020, 07:24:30 AM

Hi guys, as many of you as I also would like to "do" something with my crypto funds that I held in my crypto wallet. For a few months, I still think if crypto loans really work and there is a very very low risk of losing my funds. I would like to ~~borrow~~ lend my cryptocurrencies with an interest. Blockfi offers up to 8.5% interest p.a. and there are more competitors, but would you 100% trust them? Earning few percent per year vs. losing the big amount of cryptocurrencies fund?

Trusting people with cryptocurrency is very risky. There is nothing you can do if someone cheats on you.Because you don't know them and just trust them.But it can be borrowed if you know a person or team.Even then I think it is not right to give someone a loan in cryptocurrency.Because why be an enemy of people by giving your cash to people.It is better not to be an enemy than to be an enemy.

Topic: Would you lend your cryptocurrencies? (Read 3598 times)