Would you lend your cryptocurrencies? - page 11.

reliable

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Quote from: abeecrypto on July 12, 2020, 06:08:07 PM

I will find it hard to lend my cryptocurrency in an online platform. That is not the kind of risk I can take. Not for now. There is so much happenings that can lead to loss of your crypto on lending platforms. Very risky! Those lending platforms can be legit today, and tomorrow they become not legit. You never what to expect. Offline lending is less risky though.

Would be hard for me as well to risk that amount of the crypto to lend because either you have a backup capital where you would be able to have money even in case you lose it which I do not have it. So in such circumstances will be happy to hold it myself or sell it whenever the need be rather than risking it to unkown person.

uneng

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Leading Crypto Sports Betting & Casino Platform

I wouldn't trust 100% anyone, but in this world you need to risk something if you want to thrive. Investments can be a good option for who doesn't have a decent income of crypto currency or for who doesn't want to take the trading risks.
But check the site's reputation you are going to invest, see how much time they are running their business and how they claim to return you profit. If you aren't so sure about it don't put all your money on this particular site, look for other options and ALWAYS run away from sites which claim to return huge profits percentage.

(About lending specifically, I think the rates for lenders won't be so exciting like 8.5% annually, because there is too much concurrency...)

Finestream

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Quote from: ATSgrowth on June 25, 2020, 08:24:30 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 am in your position, I would rather hold it and live with a peace of mind, at least you are the one who are in charge or your money, you can sell it anytime you like and you don't need permission from a third-party.

Lending your money is not bad, but with that kind of return, it's not worth risk.

If you really think of lending then how about trying to lend in the forum, I'm sure you can even get 10% to 20% per month of interest for non secured loans. There's also a risk but the rates will justify that and the fact that there are still a lot of active lenders in the forum, that says a lot about its profitability.

If you would like to check, do visit in this section. https://bitcointalk.org/index.php?board=65.0

abeecrypto

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I will find it hard to lend my cryptocurrency in an online platform. That is not the kind of risk I can take. Not for now. There is so much happenings that can lead to loss of your crypto on lending platforms. Very risky! Those lending platforms can be legit today, and tomorrow they become not legit. You never what to expect. Offline lending is less risky though.

Romulo00

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Yes , I used compound and AAVE , i have little profitts but only 0,02 ethereum and 10 DAI

Yogee

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Quote from: GreatArkansas on June 26, 2020, 11:07:45 PM

Quote from: Yogee on June 25, 2020, 09:42:31 AM

You can visit the lending board and see how veteran lenders do their business https://bitcointalk.org/index.php?board=65.0
(...)

For me, this is much risky for sure especially the last few weeks/months lot of bitcointalk users who able to borrow some Bitcoin or other cryptocurrency were defaulted by the borrower. Especially even how trusted/reputable bitcointalk member you are, there's still a bad side.

Speaking of Blockfi with 8.5% interest per annum, I'd rather go use this than peer-to-peer lending.
But using Blockfi seems lot of requirements needed? like KYC?
Or the difficult part here is the minimum you will lend or deposit to them, it seems like a huge amount.

There is always that risk of losing money when we enter any business.

To address the risk of not getting payment from lending with P2P, the lender has the option to ask for a collateral from all borrowers such as another token that can be sold easily on exchanges. The downside with that approach is the lender will probably have less number of borrowers.

Entrusting your money to a third party for lending is also risky. We all know any centralized platforms are favorite target of hackers. I don't know much about Blockfi. Maybe they have an insurance for their lenders in case something wrong happens but who knows if they can cover all once they get hacked? Not to mention your personal data could also be exposed and sold in the black market.

Between P2P and a centralized lending platform, I think it's still better with P2P if you consider the risks involved.

imstillthebest

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Quote from: Baofeng on July 02, 2020, 06:59:15 PM

Quote from: ATSgrowth on June 25, 2020, 08:24:30 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?

Yes, everything has risk specially the lending services, it's really attractive to see a 8.5% per annum, but your funds are not safe. Honestly, I will rather hold my coins, at least I have total control of it. There are a lot of scammers out there, so it's really hard to trust and lend money to some that you really don't know. Besides, there are also hackers just around the corner.

https://www.zdnet.com/article/blockfi-discloses-failed-hack-attempt-after-sim-swapping-incident/

for you yes you are wiling to hold your coin but to him he already think of the risk of holding a coin and he said he can loose big with it so he thinks lending his coin to someone else is more better because he can earn few profit .

on lending , i dont think you can earn small but i see that lenders do have a big interest so it means they also earn big with it . you cant also say that you will lost big on hodling because not all times the value drops and it also depend on the coin that you hold .

Baofeng

legendary

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Quote from: ATSgrowth on June 25, 2020, 08:24:30 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?

Yes, everything has risk specially the lending services, it's really attractive to see a 8.5% per annum, but your funds are not safe. Honestly, I will rather hold my coins, at least I have total control of it. There are a lot of scammers out there, so it's really hard to trust and lend money to some that you really don't know. Besides, there are also hackers just around the corner.

https://www.zdnet.com/article/blockfi-discloses-failed-hack-attempt-after-sim-swapping-incident/

LTU_btc

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Slava Ukraini!

Quote from: MisterBitconio on June 29, 2020, 04:17:08 PM

Quote from: LTU_btc on June 29, 2020, 03:58:37 PM

I thought about lending my BTC here on Bitcointalk. But I'm afraid to be scammed and forgot about such idea.

I mean with proper collateral deals it seems rather safe, no?

Yes, but as @Taskford explained, proper collateral doesn't remove all risks. As imagine that most of lenders have experience when they got scammed and loan was defaulted. And if you look at Lending section, you'll see that there is not so many peoppe offering proper collateral.

ralle14

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Quote from: ReiMomo on June 29, 2020, 05:38:30 PM

Quote from: MisterBitconio on June 29, 2020, 04:17:08 PM

Quote from: LTU_btc on June 29, 2020, 03:58:37 PM

I thought about lending my BTC here on Bitcointalk. But I'm afraid to be scammed and forgot about such idea.

I mean with proper collateral deals it seems rather safe, no?

If you meant that here in the forum, you're safe. All lenders here are the most reputable and higher rank members I don't think if the small amount of collateral they will ruin their good reputation. If you are a newbie you must have collateral and it should worth 100% plus or higher of the loan's value.

So, why you are taking a loan if you have collateral to use.

When you think in the situation of the borrower it would be easier to get a loan than to sell the collateral. And since most of the collaterals in the forum are altcoins the borrower rarely defaults knowing they could lose potential profits from their altcoins if they sell it now and buy it back in the near future.

Regardless of the amount it's still possible for them to default as it happened a bunch of times before so only lend what you can afford to lose.

Taskford

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Quote from: ReiMomo on June 29, 2020, 05:38:30 PM

Quote from: MisterBitconio on June 29, 2020, 04:17:08 PM

Quote from: LTU_btc on June 29, 2020, 03:58:37 PM

I thought about lending my BTC here on Bitcointalk. But I'm afraid to be scammed and forgot about such idea.

I mean with proper collateral deals it seems rather safe, no?

If you meant that here in the forum, you're safe. All lenders here are the most reputable and higher rank members I don't think if the small amount of collateral they will ruin their good reputation. If you are a newbie you must have collateral and it should worth 100% plus or higher of the loan's value.

So, why you are taking a loan if you have collateral to use.

We know that this loan service is high risk and it could lose your money in single snap with a wrong decision. Take more cautious to the people who you deal with, not all are in good intention.

There's no guarantee for that even if how trusted they are or how many + trust they get since if in case of emergency and they cannot pay for sure they will default it, we have a lot of green trusted member as well supposed to be trusted escrow scams/defaulted their loans so we need to be careful upon dealing and we should not lend any huge amount here. Small amounts will be ok so that the business will not collapsed if the OP will create a loan business here.

UserU

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Quote from: ReiMomo on June 29, 2020, 05:38:30 PM

Quote from: MisterBitconio on June 29, 2020, 04:17:08 PM

Quote from: LTU_btc on June 29, 2020, 03:58:37 PM

I thought about lending my BTC here on Bitcointalk. But I'm afraid to be scammed and forgot about such idea.

I mean with proper collateral deals it seems rather safe, no?

If you meant that here in the forum, you're safe. All lenders here are the most reputable and higher rank members I don't think if the small amount of collateral they will ruin their good reputation. If you are a newbie you must have collateral and it should worth 100% plus or higher of the loan's value.

So, why you are taking a loan if you have collateral to use.

We know that this loan service is high risk and it could lose your money in single snap with a wrong decision. Take more cautious to the people who you deal with, not all are in good intention.

Well, the purpose of the collateral is to act as a security in case anything happens. Just like how banks check your background and what you have, your collaterals allow you to gain access to another resource without the need to sell them unless you default.

bobitza

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I do not trust anyone in the cryptocurrency market. I only trade when I have faith in the other person. Therefore, I do not lend my cryptocurrency. I only invest in buying or selling cryptocurrencies. When I have the conditions, I will buy and sell when there is profit. Lending money is still paid but it is not secure. If cheated you will lose white.

ReiMomo

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Quote from: MisterBitconio on June 29, 2020, 04:17:08 PM

Quote from: LTU_btc on June 29, 2020, 03:58:37 PM

I thought about lending my BTC here on Bitcointalk. But I'm afraid to be scammed and forgot about such idea.

I mean with proper collateral deals it seems rather safe, no?

If you meant that here in the forum, you're safe. All lenders here are the most reputable and higher rank members I don't think if the small amount of collateral they will ruin their good reputation. If you are a newbie you must have collateral and it should worth 100% plus or higher of the loan's value.

So, why you are taking a loan if you have collateral to use.

We know that this loan service is high risk and it could lose your money in single snap with a wrong decision. Take more cautious to the people who you deal with, not all are in good intention.

MisterBitconio

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Quote from: LTU_btc on June 29, 2020, 03:58:37 PM

I thought about lending my BTC here on Bitcointalk. But I'm afraid to be scammed and forgot about such idea.

I mean with proper collateral deals it seems rather safe, no?

LTU_btc

legendary

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Slava Ukraini!

I heard about BlockFi, but haven't tried to use it. 8.5% interest doesn't sounds bad, but there is few reasons why I'm staying away from lending platforms.
First, yeah, they looking reputable, but I'm not going to trust big number of my BTC to third party website where I don't have full control of my coins. Offcourse, you can invest small amount of BTC, but it's just not worth, because profit will be insignificant while same risks remain.
And KYC requirements is another reason. As I understand, BlockFi requires KYC and I don't really want to pass in order to lend my money.
I thought about lending my BTC here on Bitcointalk. But I'm afraid to be scammed and forgot about such idea.

Joksin90

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Could lend thousands of dollars if i got paid in paypal first.

MisterBitconio

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I personally have two concerns regarding lending services:

1. The famous not your keys, not your coins. Trusting the service with large amounts of money is a problem, and with small amounts it stops being worth it.
2. Crypto is volatile enough for you to make more than the 8% p.a. that is advertised if you sell high buy low once a month. The returns don't seem worth it.

TheGreatPython

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Quote from: ATSgrowth on June 25, 2020, 08:24:30 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?

Personally I will not trust any third party for lending out my bitcoins and I guess we do not need any such services as we are having dedicated board on this forum itself which must be a safer method as you are not depending on any centralized services for your money but you have all the control over your funds and to whom you want to lend etc. There are plenty of people already doing this as this forum basically entourage you to run lending business for this community.

Regardless of where-ever you may start your lending business, I suggest you to go for proper collateral like up to 40% extra from you lending amount so that you may go liquidation on the event of non-repayment or anything similar to that.

I have been planning for starting lending out on this forum but due to my hectic schedule I could not go for it so far. I do not want to earn interests strictly but I may accept donations for helping them. If I start lending that definitely will be at high standards like setting new trend for many other people to follow/copy Wink

.

UserU

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Quote from: maydna on June 27, 2020, 04:18:33 AM

I don't know much about NEXO and BlockFI, I already search on Google, but it seems, BlockFI website cannot reach right now, and I think you should be careful. While NEXO still online after I check, but hm you still need to be cautious if you want to lend your crypto because I don't have any experience with that site. Perhaps, you can use a small amount to see how good it is work for you, and if you think that is safe for you and you can make a profit with them, you can try to send some amount and see what will happen later.

I've been using BlockFi for a while now, and they're legit. Basically if your Bitcoin deposits are small, your earnings are too but better than leaving them stagnant in a non-interest wallet.

Topic: Would you lend your cryptocurrencies? - page 11. (Read 3500 times)