Would you lend your cryptocurrencies?

Oliver

New member
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?
 

Ethan

New member
"I would like to borrow my cryptocurrencies with an interest" is confusing. Did you mean lend?

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

Lending cryptocurrencies has it's risk and rewards. Due to the market's volatility, you never really know if you'll profit or not. If you don't care about the fiat value, I think there is nothing to worry about.

What cryptocurrencies are you planning to lend? If it's an unpopular coin or token, I don't know if someone will even take that.
 

Elijah

New member
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?
You have to give strict rules...
as a lender, you must install strict and strong rules so that the funds you lend are paid back by the borrower. You can mimic the way of this lender https://bitcointalk.org/index.php?topic=5030169.0, and I see the rules that are installed are very good.
 

William

New member
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?
It depends on you on what is the level of risk you can able to handle but in my case then i never intended to use up these platforms for them to handle out my coins just for aiming to have some small percentage interest per annum. If you are bored on handling out your own funds with your own wallet then go ahead and make use of those platforms but the risk or tendency of losing is high compared if you do keep your coins for yourself and also you can potentially earn bigger percentage in a short span of time if the market tend to rise and would make you sell anytime without any permission or some sort.
 

James

New member
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.
 

Lucas

New member
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
 

David

New member
I already tried with lending my bitcoin on trading, and I have good experience in Poloniex to lend the bitcoin to other traders. The interest rate in that site will depend on the bitcoin price, but that makes sense for me.

I never heard about Blockfi, and I don't have much info about them. Perhaps, you should search for other news about them. Or you can try to visit Poloniex as I did before, and who knows, you can make additional profit from that site. But to be honest, I don't trust 100% for anything because sometimes, that thing cannot always work for us, there will be something that can prevent us from reaching what we want.
 

Benjamin

New member
You said that it has a very low risk because you don't do something and you earn interest right? But here's the twist, you let your cryptos sit on those platforms for a long period of time. And what if something wrong happens to that platform? I'm not wishing about it but it usually happens that an exchange gets hack. So what if by that time most of their funds are hacked, I mean the fund that's outside their cold storage and unfortunately they can easily say that loan funds are targeted?
 

Mason

New member
I have never heard of Blockfi but it seems like they are a reputable company in the USA. One thing I know is that the German Online Bank, BitBond, is offering more flexibility when it comes to their lenders' interest rate offering up to 10% to 35% returns for their borrowers. Reuters have written an article about them and they are are also a legal company in Germany so I think when it comes to giving 100% of your trust on a lending company BitBond might be a better option. The article was written last 2 years ago so maybe things have change but there is no harm in researching your own maybe you'll find them more trustworthy.
 
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