Would you lend your cryptocurrencies? - page 6.

batang_bitcoin

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Quote from: cabron on July 10, 2021, 10:35:33 PM

Blockfi had been recommended several times by popular influencers actually. I haven't tried them myself but we recently heard of Blockfi news in which they mistakenly distributed BTC instead of USD to its users. With the influencers and people providing reviews, they've become reputable. Not everyone will trust any company with their coins though.

Those influencers won't just give a feedback because they want to put such platforms as a content. They're also now part of the marketplace for these platforms and getting paid for nice reviews.

Quote from: cabron on July 10, 2021, 10:35:33 PM

If your goal is to earn 8% annually, there are staking projects out there that almost similar, maybe only 5% but perfectly safer.

That's actually low but very reachable and realistic. I agree that there are staking that can even provide more than that but choose the appropriate one that you can take as per risk calculation.

cabron

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Blockfi had been recommended several times by popular influencers actually. I haven't tried them myself but we recently heard of Blockfi news in which they mistakenly distributed BTC instead of USD to its users. With the influencers and people providing reviews, they've become reputable. Not everyone will trust any company with their coins though. If your goal is to earn 8% annually, there are staking projects out there that almost similar, maybe only 5% but perfectly safer.

Rajamuda

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If I were you, I would never do that, I think it has its own risks that can harm you. This is a big warning to bitcoiners not to over-liberate bitcoin, however.. this is very important privacy that should not be known to others. So far for mine, I don't believe it and I don't want any intention of lending bitcoins in any case even if it promises profits.

slaman29

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Quote from: Smartvirus on June 24, 2021, 05:45:03 PM

Lending of fiat is quite a risky move not to talk of lending cryptos, this is a super risky move for me. Cryptos is designed to anonymous and comes with a lot of privacy except in actual cases of a compromise but then, how can you lend something to someone you know not and take no asset for collateral in the process. Yes, those that do it might bank on the forum trust system and the value attached to an account but then, does it really ends with the forum to take such risk?
Well, I suppose they know how to do this but, its a too risky move for me and I'm not sure of taking my chances with lending anyone cryptos anytime soon, lol.

`

Lending is risky, that's about the most and the least you can say about it. At least if you lend fiat to the bank the government can guarantee it (and I know this isn't foolproof but it's something).

Giving your Bitcoin to people and hoping they'll keep it safe for you, is one big ridiculousness we can't afford at all! And no, even wrapped Bitcoin trusts centralized blockchain companies!

lightning0

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This is a very interesting approach, why not huh?

Advance: Platforms with large transaction volume and high creditworthiness, those with the best time

I will use a small part of my funds to invest in a simulation operation, which will be another interesting channel. I think I must be tolerant and suspicious of him before I come into contact with new things. This will make me interested in new things and try it when possible.

Hamphser

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Quote from: Porfirii on June 27, 2021, 06:31:36 PM

Regardless of the trust question, depending on where you live and how much you care about compliance with the law, lending may not suit to many:

In many (most?) countries simply hodling is a neutral activity, but trading and lending may be considered a tax event, so if you are simply talking about earning a few bucks it may not be worth the hassle.

Depends actually on taxation regulation but most of the time where trading and these lending business specially if done online isnt taxable then this thing wont really be a bothersome most of the time.

In talks with the risk then of course it would really be always been a part because there's no such business that wont really be involving any risk so you should really get prepared for that.

Its up to someone if he would risk out on lending his crypto because not all would really be having that kind of confidence inside and even myself cant really take off that risk.

Porfirii

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Regardless of the trust question, depending on where you live and how much you care about compliance with the law, lending may not suit to many:

In many (most?) countries simply hodling is a neutral activity, but trading and lending may be considered a tax event, so if you are simply talking about earning a few bucks it may not be worth the hassle.

bL4nkcode

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Quote from: rodel caling on June 26, 2021, 08:35:50 PM

Well I would love to. Just to make it as a bussiness to earn more currency.ofcourse lending currencies should have an interest so you will get profit.bit ofcourse you need to kearned more and study all strategy how you will get profit on it.I did not yet experience lending currencies but as I said I would.I like the idea of that...

Try to do it on your locals first before entering business with intl clients, or if you want to run a website/business and regulated by the authorities on your location then that's much better.

But if you want to do it just like in this forum, then you're entering a hell of risks, there are lots of users here who lend and end up being scammed and etc. Though you can really gain much but the chance of getting rekt is huge as well.

ReiMomo

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Quote from: rodel caling on June 26, 2021, 08:35:50 PM

Well I would love to. Just to make it as a bussiness to earn more currency.ofcourse lending currencies should have an interest so you will get profit.bit ofcourse you need to kearned more and study all strategy how you will get profit on it.I did not yet experience lending currencies but as I said I would.I like the idea of that...

If you are new to this business I suggest not to become too much greedy, you need to have research first on your lender, it should have always collateral higher value than what they borrow. Becuase once there is one of your clients will not pay, it is hard for you to recover that amount and it will consider as your loss. That is how risky to become a crypto lender.

I rather keep holding my crypto-asset than entering this business, though the potential of gaining profit is possibly high and the risk also is too much high.

rodel caling

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Well I would love to. Just to make it as a bussiness to earn more currency.ofcourse lending currencies should have an interest so you will get profit.bit ofcourse you need to kearned more and study all strategy how you will get profit on it.I did not yet experience lending currencies but as I said I would.I like the idea of that...

batang_bitcoin

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Quote from: Smartvirus on June 24, 2021, 05:45:03 PM

Lending of fiat is quite a risky move not to talk of lending cryptos, this is a super risky move for me. Cryptos is designed to anonymous and comes with a lot of privacy except in actual cases of a compromise but then, how can you lend something to someone you know not and take no asset for collateral in the process. Yes, those that do it might bank on the forum trust system and the value attached to an account but then, does it really ends with the forum to take such risk?
Well, I suppose they know how to do this but, its a too risky move for me and I'm not sure of taking my chances with lending anyone cryptos anytime soon, lol.

In P2P lending, it's just all about trust and we can see that there's a reputation built on the lending section and we know who are the trusted people. But they're also choosing who to lend if there's no collateral but if there's good collateral, they'll grant you for sure.
I don't lend or borrow too as I don't find myself fitting for that business but who knows if there's a possibility that you and I will also be there entering that business.

Smartvirus

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Lending of fiat is quite a risky move not to talk of lending cryptos, this is a super risky move for me. Cryptos is designed to anonymous and comes with a lot of privacy except in actual cases of a compromise but then, how can you lend something to someone you know not and take no asset for collateral in the process. Yes, those that do it might bank on the forum trust system and the value attached to an account but then, does it really ends with the forum to take such risk?
Well, I suppose they know how to do this but, its a too risky move for me and I'm not sure of taking my chances with lending anyone cryptos anytime soon, lol.

yemight600

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Quote from: ?? on ??

Quote from: Chato1977 on June 14, 2021, 08:01:55 AM

Quote from: SoeNan89 on June 12, 2021, 07:39:38 AM

Although I have never tried the platform, but I think that credit can make people's dreams come true that have not been able to be achieved at that stage, with credit it is easier for people to reach them.

Therefore, by making credit, the borrower spends more money to pay it off, rather than making transactions in cash.

Very Wrong, because Credit will never help others but will only put them down, Unless the credit will come from our family members that has no increase and time duration then that would be far different from Loaning to other people with too much agreement.

If that the case then yes, it will help the person who needs capital. But if there's interest more probably the money that he earn
will go to the lender.

but if there's a good knowledge within the business a chance to make decent money is still possible to the person who barrowed
the money, depends from his skills it will rely his fate.

We all know the risk that comes with borrowing and lending money. And for someone to borrow a particular some of assets, he needs to check if he or she will still have enough net profit after deducting the interest of the lender from the profit. This is just one of the numerous things to do before one jumps in to borrowing generally.

spacelens

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You want to really research the different organizations before lending your cryptos to them. If you see that the interest rate paid is quite high, this might be a sign of additional risk which you might not want to take. Look at what the main platforms are offering and see what's the current benchmark. Then try to see how the organization you choose is regulated, where they are located, who is behind. Make your due diligence and start small and not with your complete portfolio.

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?

Chato1977

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Quote from: SoeNan89 on June 12, 2021, 07:39:38 AM

Although I have never tried the platform, but I think that credit can make people's dreams come true that have not been able to be achieved at that stage, with credit it is easier for people to reach them.

Therefore, by making credit, the borrower spends more money to pay it off, rather than making transactions in cash.

Very Wrong, because Credit will never help others but will only put them down, Unless the credit will come from our family members that has no increase and time duration then that would be far different from Loaning to other people with too much agreement.

yemight600

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Quote from: virasog on June 05, 2021, 12:34:56 AM

Quote from: perryxi2 on May 30, 2021, 06:16:22 AM

any lending and borrowing platform carries unforeseeable risks, which proves that only make loans or loans under our own control. To increase the amount of money you hold, you should learn trade knowledge or invest in IEO or IDO projects, which is probably a safer option.

You can reduce this risk by lending on the decentralized platforms. Of course if you have extra crypto with you and it is lying ideal, you would want it to lend it and earn some passive income in the form of interest. There will be risk to but you need to take measures to minimize the risk as low as possible.

Nothing comes without risk (even the life we live). The most important thing is to take a risk that is really worthy of taking. Earning a passive income on your asset by lending is out is a good idea which i really support. But then, it's your asset and you can do whatever you like with it. However, lending it out will not only earn you a passive income but also you are helping someone somewhere with your assets.

SoeNan89

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Although I have never tried the platform, but I think that credit can make people's dreams come true that have not been able to be achieved at that stage, with credit it is easier for people to reach them.

Therefore, by making credit, the borrower spends more money to pay it off, rather than making transactions in cash.

FIFA worldcup

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Quote from: yemight600 on May 16, 2021, 01:26:18 PM

Quote from: FIFA worldcup on May 16, 2021, 01:23:16 AM

Quote from: alchemister on March 17, 2021, 01:50:19 PM

Certainly there are risks, but I use DeFi
I also use CeFi on the Binance exchange
These bring solid revenue

I am not lend my crypto to any individual but i will more than happy to stake my crypto in centralized platforms like binance to earn regular interest from it.
You can do yield farming or provide liquidity and earn good returns which are way better than the returns which may be received from fiat banks.

Providing liquidity/yield farming often require ethereum/binance (depending on the chain) which mean u will have to pay for deposition and withdrawal. That's your opinion though but don't you think it will benefits you and others (borrower) when you lend out some amount of that token and also earn timely reward?.

I think there is no fee for the deposit and you won't withdraw often in this case. You will withdraw only when you want to stop the lending and by that time you would have earn enough interest that paying the withdrawal fee won't be a problem.

virasog

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Quote from: perryxi2 on May 30, 2021, 06:16:22 AM

any lending and borrowing platform carries unforeseeable risks, which proves that only make loans or loans under our own control. To increase the amount of money you hold, you should learn trade knowledge or invest in IEO or IDO projects, which is probably a safer option.

You can reduce this risk by lending on the decentralized platforms. Of course if you have extra crypto with you and it is lying ideal, you would want it to lend it and earn some passive income in the form of interest. There will be risk to but you need to take measures to minimize the risk as low as possible.

Fivestar4everMVP

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Quote from: perryxi2 on May 30, 2021, 06:16:22 AM

any lending and borrowing platform carries unforeseeable risks, which proves that only make loans or loans under our own control. To increase the amount of money you hold, you should learn trade knowledge or invest in IEO or IDO projects, which is probably a safer option.

Well, I think the risk depends on the platform one use for their lending business, this is if really theres any risk to it though, cus me personally, I've been doing lending on kucoin exchange for quite a long while now and I've never had any issues, they've always paid my money back including the interest even before my loan period expires, the only down side is that the interest rate is very small compared to some other platforms, but am glad cus its been consistent and I've never had anything to worry about.
Though my purpose of lending isn't 100 percent for the profit, my main purpose of lending is to force myself to hodl, If I buy a coin on an exchange which I wish to hodl for some time, if lending is available for the coin, to prevent myself from panic selling, I lend it, so this is exactly why I don't really care much about the interest rate be it very low.

Topic: Would you lend your cryptocurrencies? - page 6. (Read 3500 times)