Bitcoin Forum

I just turned member yesterday but I have been in this forum since last year ( my old account was scammed).

I was wondering if lending others my bitcoins will work in my current rank or not?

I mostly spend my whole day here in bitcointalk and online and I'm tired of the ponzis and hyip scams where I loose all my bitcoins before. I can't join any bitcoin lending site like btcjam because they won't verify my account with the ID that I provide so I'm trying my luck in here.

Any suggestion?

Yes you can lend to others at any rank. There is an entire forum that is for lending.    Most things are to stop new people from getting loans, nothing really to stop them from giving them.

I suggest you think twice before going into it though.  It's a very high risk area.  If someone defaults and you have no collateral from them chances of getting it back is slim.

I see, thank you for responding. I know very well how these things wirks for scammers so yea thank you for your reminder, I will secure any transactions and I will not spend that much in lending.

if you are just starting lending, it is advisable for you that always ask for collateral even the amount is only low but its up to you if you want to give no collateral loans to a high rank member

sure you can. you could do it even when you were newbie or brand new account.
you should use an Escrow for your lendings. so it does not matter if anybody needs to trust you or not because all is going through an Escrow

Yes, lending does not require rank.   Borrowing by newbies without collateral is frowned upon.   Just be careful-!

probably not the right section, but rank doesnt matter as youre not giving your account as collateral or anything; you might get some people trying to take advantage of what may seem to be inexperience though.

Sure you can offer loan with low rank.
Its just hard for low rank members to get loan.

Be careful, never give loan without colateral

undoubtedly you can. But there it is so risky for you, be carefull, offer less as low is rank of recipient, but I hope you understand it. Have a nice business man. :D

there should be no risk as long as he takes collateral and lends to the right people. be sure to make loan agreements public before sending funds though.

This forum doesn't rule over Bitcoin, it's just a place to talk about it. You can lend bitcoin to anyone who's willing to borrow it from you...you don't need some rank to prove your worth, just a bitcoin balance!

you can for sure..

just keep in mind, how risky business it is, that bitcoin transaction are non-reversible and paypal always offend their users first:) even this forum is full of scammers, is possible to buy high trusted acc with lower than 1BTC and there are also paid shills and puppet accounts.

if you don't have any experience with lending here, I recommend you to use always some escrow + study Scam Accusations board (https://bitcointalk.org/index.php?board=83.0) to fully understands, what may happen and how some people behaves for few dollars profit.

good luck with you lending anyway:)

how much bitcoin should i have in order to start lending to others?

depends how much you want to risk, for how long you are planning to lend and what will be your interest fee.

to answer your question, considering your rank, experience and type of questions, I have to strongly recommend you to lend, what you are ready to loose and no more than ~0.5BTC. Once you will get some experience/contacts, you can start lending even more.

anyway, please read also, what is called "valid collateral" here (https://bitcointalk.org/index.php?topic=577765.msg6311902#msg6311902) are again, consider the risk and potential earning, because even experienced guys were scammed here..

There's no reason or rule that you can't lend at your rank but just remember what others have said that it can be risky.

If you do decide to start giving loans just make sure that both parties are happy with the terms before sending any coins.
Always make your deals public, never via PM.
Get collateral, BTC accounts can work but only if you need another account or can sell or it to recoup your loss. Always get a signed message from before last BCT hack if taking account's as collateral.

And always do your own homework before giving a loan, go through the post history of the loaner and see if they have any outstanding loans already, check if they spend most of there time in gambling section if so the loan will most likely be gambled away, things like that.
Good luck.

Why don't you use platforms like BTCjam?

btcjam are all no collateral; theres nothing to be done in the likely case the borrower defaults, aside from pursuing the case at your own expense.

Btcjam is full of scammers

indeed, i think ive tried lending into two listings there, both borrowers just ended up running. unfortunately, theres really not much that can be done. funny though, one of the defaulters ended up getting doxxed on the site for defaulting on 3 BTC.

Yes,you can offer lending but you can't ask for loans without a valid collateral.

I think the tricky part for him will be getting or securing the collateral. You'll likely have to use an escrow for that as others likely wont trust you. I don't think there's much point in lending any way. The tips or interest are tiny and if you don't take collateral you'll get scammed.

look at the bigger picture; most of these loans range in the 10% interest range for a week loan; thats a 520% apr. that rate is better than any investment you can find on wall street. sure the amounts loaned out here are small, but its a nice side source of small near-passive income.

Just for interest. What are "valid" collaterals? I haven't taken any loan yet so I am really unexperienced in the lending area.

https://bitcointalk.org/index.php?topic=577765.0

just take a look over at the thread; usually forum accounts and the bigger altcoins are the best for collateral, but other things like domain names, physical coins, etc can be valid depending on the loaner.

arent you valid for lending at any levels of the forum account? you have to be higher level only if you want to borrow some amount of money

 I suugest you read the posts above you before commenting. I'm not trying to loan. I'm offering to lend. They said my rank doen't have anytging to do if I want tp lend my btc to people here in forum.

dont worry about it, he's just signature spamming. honestly though, trying to lend gets frustrating at times, especially when 90% of your applicants are brand new accounts that always need 0.1 btc for private reasons and promise to repay with no collateral. especially right now, with manyproofs going out and making it rain money for scammers, better to wait a bit before starting your loaning thread.