Topic: Would you lend your cryptocurrencies? - page 8. (Read 3499 times)
Maybe yes maybe not, it depends on the rule or the thing that I will be getting from lending my cryptocurrency assets as long as Ive the assurance to get back the asset that I lend
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 you lend anyone your crypto to get interest on it, you have the danger that the someone may not return your money and/or run away with your money.
You can try the Binance saving program where you can get interest on your savings and at the same time you will have no fear of scam.
I would never do that, neither directly to someone or through a trading platform, yes they promise good profits per month or year but the risk is inevitable.
The most important thing in lending crypto to other people, of course, they have to provide collateral just in case, the best collateral probably a stable coin or fiat currency of equal value. However, what bothers me is the idea of taking advantage of someone else while he is struggling to provide collateral and work to pay his debt, it's better to invest in stocks.
Thats how reality works thats why you wouldnt really be having any option but to deal with it.On the ethical side of things then its your responsibility on paying The most important thing in lending crypto to other people, of course, they have to provide collateral just in case, the best collateral probably a stable coin or fiat currency of equal value. However, what bothers me is the idea of taking advantage of someone else while he is struggling to provide collateral and work to pay his debt, it's better to invest in stocks.
up your debt since you had borrowed money.Back on topic on where i do trust up third parties? I would rather kept my coins in my own wallet and let it grow
and if the price had crashed down and made me lose then it doesnt matter as long you do lose those money into your hands and the feeling of regret wont really
be that bad or severe compared if you do look your money on other hands and lost it up without any further explanations but only simply saying due to
volatility issues.
I would never do that, neither directly to someone or through a trading platform, yes they promise good profits per month or year but the risk is inevitable.
The most important thing in lending crypto to other people, of course, they have to provide collateral just in case, the best collateral probably a stable coin or fiat currency of equal value. However, what bothers me is the idea of taking advantage of someone else while he is struggling to provide collateral and work to pay his debt, it's better to invest in stocks.
The most important thing in lending crypto to other people, of course, they have to provide collateral just in case, the best collateral probably a stable coin or fiat currency of equal value. However, what bothers me is the idea of taking advantage of someone else while he is struggling to provide collateral and work to pay his debt, it's better to invest in stocks.
There are crypto traders who take loans to use cryptocurrencies. Like banks they charge high interest rates on loans this makes it much easier for them to raise funds. It is not a bad thing to take a loan. There are many businessmen who improve their business through loans and also does not take much time to repay the loan if their earnings are good. However is better to stay away from kyc platforms.
There is a section on this forum for those who wish to lend their funds in the form of cryptocurrencies at interest. The percentage at which funds are issued is much higher than the annual rate of DeFi projects. I myself would not mind doing this kind of activity, but so far I have no time for it. You just need to accumulate a sufficient amount of funds and come up with a system of rules for issuing loans.
I'm not sure about this but anyone here knew about Celsius Network. I want to try it but I'm not comfortable to do the KYC procedure. Is anyone here already earning on that platform. Is it worth to try?
I've used Celsius Network before. They're one of the legit platforms out there, and are pretty flexible in terms of fees and tenure. You can withdraw anytime without penalty.
Thanks for responding. Do I need to submit proof of residence address. I mean like utility bills. Unfortunately I have none of those bills if needed. Just national id.
I'm not sure about this but anyone here knew about Celsius Network. I want to try it but I'm not comfortable to do the KYC procedure. Is anyone here already earning on that platform. Is it worth to try?
I've used Celsius Network before. They're one of the legit platforms out there, and are pretty flexible in terms of fees and tenure. You can withdraw anytime without penalty.
I'm not sure about this but anyone here knew about Celsius Network. I want to try it but I'm not comfortable to do the KYC procedure. Is anyone here already earning on that platform. Is it worth to try?
I think there are loan markets on Poloniex where you can loan but under better control than lending to some random guy on the forum. Having just been reading about someone's defaulters I cant say I fancy it much.
Also places like free bitcoi.in give 4% interest annually on balances so how much can you make loaning?
Please feel free to use my signature to go there.
Also places like free bitcoi.in give 4% interest annually on balances so how much can you make loaning?
Please feel free to use my signature to go there.
I never want to lend my cryptocurrency, I think it's very risky. I used to have bad experiences about lending Bitcoin to a friend but until now it's only been paid half. my friend continues to use many excuses to buy time for payment, since then I intend to never lend my cryptocurrency to anyone even with collateral..
If that is the case, I think it is not only when owed in cryptocurrency that it will be difficult to pay for many reasons, because this kind of nature often occurs in real life with loans in fiat. I personally borrowed cryptocurrency several times from friends and vice versa, at least I had borrowed and loaned cryptocurrency at that time. As long as the calculation is only in cryptocurrency, I think it's fine if it's just friends, but if you do loan services, then I think the calculations will be better using USD, because we also need to adjust to unstable prices in this market. 
Don't bet your money on someone else, you lose everything. It's not like we put savings in the bank because they have proper headquarters, we know where to file a complaint. In the world of crypto, even though the company has its registered headquarters, when something goes wrong, it is difficult to get its money back. Keep your money in your hardware wallet, wait for the price to rise and sell, that's optimal. Interest 8.5%/year but lose everything, you will be desperate.
Without collateral or not knowing the person lending will be highly risky and not everyone can afford to lose it. It is a good business though but only if you got some good backing and ready to take risk and also have a proper collateral in place etc then it may be the good choice else for normal ones better to stay invested in coins.
but in most cases these people cant really be granted with any loan since they can easily ran without being traced knowing that online marketplace is a vast thing.Lending business is a very risky
one thats why as a lendor you would surely set out something on agreement so that in case that they wont pay then theres something you can pull off and its better rather than have nothing at all.
Always ask out on collaterals which are way more value on the amount that had been loaned and dont go below it.
I have made loans in the past and it's a good business if you trust in the guy you are giving a loan. The biggest loan has been up to 0.0175 to get back 0.02 in one month, so in the end it worth it.
And that's why the forum has the lending section, for people who are interested in giving loans and make a profit from them. https://bitcointalk.org/index.php?board=65.0
And that's why the forum has the lending section, for people who are interested in giving loans and make a profit from them. https://bitcointalk.org/index.php?board=65.0
I never want to lend my cryptocurrency, I think it's very risky. I used to have bad experiences about lending Bitcoin to a friend but until now it's only been paid half. my friend continues to use many excuses to buy time for payment, since then I intend to never lend my cryptocurrency to anyone even with collateral..
Don't bet your money on someone else, you lose everything. It's not like we put savings in the bank because they have proper headquarters, we know where to file a complaint. In the world of crypto, even though the company has its registered headquarters, when something goes wrong, it is difficult to get its money back. Keep your money in your hardware wallet, wait for the price to rise and sell, that's optimal. Interest 8.5%/year but lose everything, you will be desperate.
Without collateral or not knowing the person lending will be highly risky and not everyone can afford to lose it. It is a good business though but only if you got some good backing and ready to take risk and also have a proper collateral in place etc then it may be the good choice else for normal ones better to stay invested in coins.
Don't bet your money on someone else, you lose everything. It's not like we put savings in the bank because they have proper headquarters, we know where to file a complaint. In the world of crypto, even though the company has its registered headquarters, when something goes wrong, it is difficult to get its money back. Keep your money in your hardware wallet, wait for the price to rise and sell, that's optimal. Interest 8.5%/year but lose everything, you will be desperate.
Why would I do that? I'm really wondering why that is even an option when I'm not even sure on how to get it back! Especially with the fact that, the third party remains anonymous, owes me a lot but virtually owes me nothing so, why take such a risk. Even with the possibility of lending it out for series of activities that could earn both you and the third party profit, it's always a probability and as much as the third party stands a chance in let's say, profiting through trading, so also are the chances of losing.
If the third party eventually looses, I'm left with zero chances at recovering my borrowed coin so, why on earth would I lend my coin. I would never do that. What ever I can do with my coin, then it's just better stocked where I can see it than with an anonymous person.
If the third party eventually looses, I'm left with zero chances at recovering my borrowed coin so, why on earth would I lend my coin. I would never do that. What ever I can do with my coin, then it's just better stocked where I can see it than with an anonymous person.
The closest I came to lending with assurance of not losing my cryptos was with the Poloniex Exchange. It used to fascinate me how I could lend my coins out on that platform and another trader picking it up even without having any direct chat with me. Interests are paid as at when due and the coins are returned at expiration. But Polo has since stopped that service. I wish any other exchange would pick it up. Notably, I have heard of p2p groups where people go into borrowing and loaning of cryptos. But they do that with escrows. However, we can't compare what interests are paid on any loaned crypto to what one makes trading them by oneself. The key thing to excel on this is getting the required skill set for trading.
I have never given lend any Crypto to anyone as I don't have that much of crypto in my hand. But now I have some funds in my hand I will like to give lend for a good interest. I know the Lending board and I have borrowed from their 2times.
This style is better than you allow the exchanges to use your funds and be in there for so long. With this P2p lending style, you have your own funds on your side and you can choose whomever you'll allow to borrow funds from you. You alone are the exchange for those people who are looking to borrow crypto. Huge or small funds, you have your variant of borrowers and it's all up to you in which bracket amount you are allowing them to borrow.New things, new risk but if you can't take those danger beneath on it then don't go since a possibilities to lose our money is huge that's why we need to be prepare for something worse and been advise to the same platform is to put a capital where you can afford to lose, I know we already here this sayings for so many times but somehow its helpful for us to have a capital set intended for risk taking.
lending is not a small business but we are talking about money here , your going to lend money to others and it requires huge capital to get started .
defi is new but its more of decentralized than on binance and previous lending platforms that we know on the past , those are thier pros and cons . i think ill go with defi for now if ever i want to start a business like this
I have never given lend any Crypto to anyone as I don't have that much of crypto in my hand. But now I have some funds in my hand I will like to give lend for a good interest. I know the Lending board and I have borrowed from their 2times.
This style is better than you allow the exchanges to use your funds and be in there for so long. With this P2p lending style, you have your own funds on your side and you can choose whomever you'll allow to borrow funds from you. You alone are the exchange for those people who are looking to borrow crypto. Huge or small funds, you have your variant of borrowers and it's all up to you in which bracket amount you are allowing them to borrow.New things, new risk but if you can't take those danger beneath on it then don't go since a possibilities to lose our money is huge that's why we need to be prepare for something worse and been advise to the same platform is to put a capital where you can afford to lose, I know we already here this sayings for so many times but somehow its helpful for us to have a capital set intended for risk taking.
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