The first thing is to find out the organographic chart of any lending organization.Find out who their CEO is and who the other executive members are. Again find out if the company has been incorporated with a Cooperate Affair Comission. Lastly in my opinion, find out if the company is registered with a known insurance company and demand to see the insurance certificate covering investor's capitals before investing. I have made this mistake in the past and would not omit the above criteria on any platform before lending or staking.
I can lend on a platform if the interest rate is attractive and if they are incorporated. Nexo is a fantastic platform in my opinion.!
Happy Trading!
Topic: Would you lend your cryptocurrencies? - page 5. (Read 3500 times)
Taking a loan cryptocurrency is never been in my thought before since its very volatile, but for lending my cryptocurrencies better to do it to someone you know since this is crypto space a lot scammer out there who willing to take your money with fake identity.
Definitely a good idea to be cautious and risk averse. There are some high quality lending and borrowing services out there that I would personally trust, and then a lot that would be a hard pass for me.
Taking a loan cryptocurrency is never been in my thought before since its very volatile, but for lending my cryptocurrencies better to do it to someone you know since this is crypto space a lot scammer out there who willing to take your money with fake identity.
same having experience with lending section.
its good choice to make fund with no hardwork, but you must go run after get what you need, run to pay the bills.
the main problem is do you believe on stranger to lend your crypto? it can be happen if you know people, where living, and have the other rule that make you keep easy to hold them
It's also okay to turn lending your cryptocurrencies into income or passive income, but I'm not convinced by unfamiliar people. I've seen this Blockfi before but I don't know that it's possible to borrow and lend Bitcoin here, like crypto.com if I'm not mistaken, please correct me if I'm wrong. If you lend on legit and verified platforms, I don't think there will be a problem.its good choice to make fund with no hardwork, but you must go run after get what you need, run to pay the bills.
the main problem is do you believe on stranger to lend your crypto? it can be happen if you know people, where living, and have the other rule that make you keep easy to hold them
But in my opinion these investments are the safest option disponible right now for passive income, because they are regulated and consequently trackable. So in case something goes wrong, people behind the platforms will have to pay investors back in legal disputes moved by the prejudiced ones. It's not a lawless land anymore.
Do you remember that MT. Gox exchange scandal? The exchange closed and scammed lots of funds from users, but there are still legal disputes going on and people are receiving their funds back, proportionally to the bitcoin price on those times. That is not a perfect solution because of course people would like to receive their original funds + bitcoin increasement percentage since 2013, but at least they can receive the money held on that time.
Cryptocurrency I have been involved in trading for two years but so far I have not taken a loan from any outside source. Because I don't like borrowing in real life again in cryptocurrency Borrowing is a very risky arrangement. Once you face a loss, it is not possible to repay the loan easily.
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?
Based on my knowledge about this matter, there are other section here in the forum where some of the members are lending their Bitcoin, ETH, to those who want to loan were of course there is an interest and period of time of how long your gonna pay it, and they are also giving a requirements for you to be able to qualify as a borrower.
The risk is higher for borrowing if the coins are pumped in the market the chances of profit are much higher that's why if it goes down, it can go down at once and it will take a long time to recover then it will be difficult to repay the loan it is better to stay away from trying to borrow for this. The market is not stable borrowing in crypto is more risky.
Exactly and I think that is not a good idea if you will barrow cryptocurrency and convert it into fiat. For example, you borrowed 1 bitcoin and then convert it into fiat, but days later the price was almost double and you can't able toa pay it just because the price was so high. You are lucky if the price will go down but I think, that is not commonly happening. It usually happens that the price was increased compared to the price that you lend from the start.
Of course yes i will like to borrow my cryptocurrency because Crypto lending is a type of trade where you lend out your cryptocurrency and earn interest from it. Crypto lending works similarly to traditional lending services but unlike a traditional bank loan, crypto lending is mostly P2P. This mean users are borrowing directly from each other instead of a financial institution or the lending platform itself and the core difference is that loans are issued on decentralised platforms. The peer to peer lending industry could possibly disrupt traditional providers of debt by providing an interesting opportunity for investors to achieve an attractive and stable stream of passive income while also offering a fast and customer friendly way to meet the financing needs of borrowers.
The risk is higher for borrowing if the coins are pumped in the market the chances of profit are much higher that's why if it goes down, it can go down at once and it will take a long time to recover then it will be difficult to repay the loan it is better to stay away from trying to borrow for this. The market is not stable borrowing in crypto is more risky.
There are several reasons why I would gladly lend my leftover cryptos. One is participate in a DeFi lending where using accepted cryptos such as bitcoin and ethereum can be act lending medium, in return the interest earn should be substantial. Many liquidity mining projects resort to lending practice to generate their respective utility/governance tokens. Many crypto support don't just want to speculate by hodling. As much as possible the want passive way of income from their holdings.
same having experience with lending section.
its good choice to make fund with no hardwork, but you must go run after get what you need, run to pay the bills.
the main problem is do you believe on stranger to lend your crypto? it can be happen if you know people, where living, and have the other rule that make you keep easy to hold them
It's also okay to turn lending your cryptocurrencies into income or passive income, but I'm not convinced by unfamiliar people. I've seen this Blockfi before but I don't know that it's possible to borrow and lend Bitcoin here, like crypto.com if I'm not mistaken, please correct me if I'm wrong. If you lend on legit and verified platforms, I don't think there will be a problem. its good choice to make fund with no hardwork, but you must go run after get what you need, run to pay the bills.
the main problem is do you believe on stranger to lend your crypto? it can be happen if you know people, where living, and have the other rule that make you keep easy to hold them
I never tried lending platforms but I had previous experience in the lending section and sometimes you could get higher interest depending on the duration of the loan. It's probably worth as long as you can afford to lose those funds, regardless of the amount you earn it all adds up once you have several lenders and like they've said why not try creating a thread in the lending section first to get a feel of what it's like to have your own lending service.
same having experience with lending section. its good choice to make fund with no hardwork, but you must go run after get what you need, run to pay the bills.
the main problem is do you believe on stranger to lend your crypto? it can be happen if you know people, where living, and have the other rule that make you keep easy to hold them
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?
As long as I know the borrowers and confident on him, yes, I would go ahead and lend. None has asked me so, however I have not tried for it so. But yes, need to be very careful when lending. We have very many good people around. Better, have a escrow in between and make sure to get guaranteed by any means. Have a slight research on, if the borrower has enough resource to earn that money and give that back to you.
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?
i didn't put my btc in blockfi but put it in celsius, i'm sure my btc will be safe there. i put my btc in Celsius for long-term investment and the assets we lend are guaranteed safe. lending and borrowing platforms are on the rise and i am very willing to lend my assets because i don't really like to let my assets sit idle.
Borrowing in the cryptocurrency market is a risky process. Especially in this market, if someone faces a loss after borrowing, it will be very difficult for him to repay the loan. He may even go bankrupt at some point.
If I was in the situation before covid 19, I would do it. But for now, it's quite risky. You know, sometimes 0.1 BTC at this point is just about $4k4$. But next year it will be $400k. So if they need a big crypto loan, I will have to politely decline.
To offer an anonymous person your Crypto assets could be dangerous and risky. Before you lend someone your Crypto assets try knowing the person to an extent if he/she can be able to pay you back or the person has a credible reputation he/she wouldn't like to dent. You will have to gain a convincing trust from the party whom you're lending. There are people who offer such services on a particular board of the Forum. Go through their topics and see how they run their businesses.
Your advise is very helpful for us. Because .don't loose your funds in lending crypto coins. Because you can't do anything if a person does not returns your funds. Because crypto currency is a decentralized currency and can't do anything when we send funds to anyone. So, don't make greedy to get some interest on your funds. Your advise is 100% right. And i am agreed with your opinion.
To avoid such risk towards giving a loan to random people here is to ask for collateral, this is what other lender do so that they can recover their funds if the lender defaulted from their loans. But if you can't avoid to do this better forget about giving some loans to the people here since for sure this will never worth and you will just get some stress thinking if your borrower will pay the amount which he borrows to you.
Your advise is very helpful for us. Because .don't loose your funds in lending crypto coins. Because you can't do anything if a person does not returns your funds. Because crypto currency is a decentralized currency and can't do anything when we send funds to anyone. So, don't make greedy to get some interest on your funds. Your advise is 100% right. And i am agreed with your opinion.
Cryptocurrency lending is not a new thing. And the risk involved is just like cryptocurrency investment itself. There are series of platforms the offer crypto lending and borrowing, inasmuch one can get a genuine platform, crypto lending is a little bit profitable than lending, most especially when the Cryptocurrency is not a DeFi coin or token.
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