Bitcoin Forum

Lending coin platforms are like wildfire these days. They attract people like honeycomb attract bees.

Of all the Lending coin platforms, I have found Gold Reward Coin(GRX Coin) (http://cryptounite.com/grx-coin/) as much better than any other lending coin.

I would rather not risk my money to that degree. All it takes is some big fud to lose it all on a platform. Say bitconnect, regalcoin, salt or any of those was cracked open and exposed as a ponzi and all similar platforms become exposed by default too.

need to know what projects to support ,you can run into fraud and then stay with nothing

But they are still working ???

That's a very high probability in this case.

I've yet to see anything which says they will compete with companies in the fiat currency world.

GRX - Everything looked fine to me until I saw that 8% affiliate commision and 1.1% daily on your Investment. Seriously?? How??
Days Will come when they also book some loss but they pay 1.1% as they promised it to people. For me, GRX is a scam for sure but Can't predict anything about it's running duration as People love to take risk and Love to invest in schemes that are too good to be true.

Sorry about that but it's Up to 1.1% daily, quite possible in the world of cryptos and tokens. Still, that 8% affiliate commision triggering my mind. Can't say how legitimate the site and project is but looks good on paper. I will never ever Invest in this as after seeing everything and evaluating every aspect of this GRX it looks more likely to be a ponzi scam to me

apoub coin - Nothing on that site to shout that we are legal. Only project information is available on the site, no information about the project team is there. Just like GRX, I will put it in the same category with GRX.

I'm not too sure about lending, I prefer to see coins that move naturally like BTC, ETH, WAVES, and some other coins.
I see lending like instant money and can be very risky

Until the day they wont, that is the way people get scammed, at first everything seems right and you get your payments and then they disappear and you lose money that is very common among HYIP, I'm not saying this is a scam but it is a risky investment as anyone that knows anything about crypto should know that lending and investing in icos are two of the most risky things you can do.

Dude WTF are you smoking? Bitconnect and SALT are two vastly different things. One is a clear ponzi scam in which you get the next person in so you can make money (Bitconnect) and the other is a legitimate platform (SALT) in which has been vetted so USA investors were allowed and had strict KYC AML procedures before you could get any. Putting them in the same sentence is going to give people the wrong impression.

Bitconnect=Ponzi
SALT=Legitimate

But don't take my word for it look into both and see for yourself.

First of all, no, I absolutely will not be participating in the ICO. Second, there is a market for coin lending and liquidity, but it's in such a premature state currently that I wouldn't risk it. You need a decentralized platform for it to be trustless. Current iterations potentially expose the user to exit scams.

In the lending world or the whole cryptocurrency world?

Yepp, you could say that GRX is the best of all those projects.

About commissions and daily returns, they say they trade with the lent money. Now 1% and 8% referral returns, in the crypto world, I would say it is possible, but for how long, I could not say that.

I am sure that it's quite risky. But any crypto investment sounds risky to me. Except for BTC.

It depends on the platform.

Any which 'guarantee' some percent profit is going to be a ponzi scheme.  There are legit ones out there but won't be making absurd claims.

People can make a quick buck with HYIP programs but it really is gambling and in the long run the odds are stacked against you.

You are absolutely right. But if they work for more than 3 months, that is enough.

As most of the lending time is for 3 months or 100 days.

In that time, people can get quite good returns, and if they lend again, that's extreme greed, and extreme risk, in that case, they should not worry about getting scammed.

Lending coin platform can be very lucrative.

I guess choosing the right honest company which also is good at protecting themselves for hacking is important.

So far i am in SALT.

 i dont really believe on these lending coins and i don't invest these icos when they hide the faces behind these projects so might be it is just  a scam

Yepp, they are quite different platforms.

At the end it is your decision, if you feel comfortable with your investment that is fine, but you must not forget that Bernie Madoff run  a ponzi for decades and many people lost their money, so how long a site has been online and being able to pay its customers is not proof in itself they are legitimate business, I would not invest in such a project but that is because I'm risk adverse, the more risky investment in all my portfolio are my bitcoin holdings.

I do believe in lending platforms, and if they manage to deal with regulation they might get huge. I don't know those two, but I do know Salt, that looks very promising to me. I lost a lot of money because I had to withdraw bitcoin in order to pay bills, but with these platforms, or at least with Salt, I could just use my crypto as collateral and get a fiat loan in my bank account, without spending my coins. This is really good, as the increase in price could actually pay the loan by itself.
I think the main problem these platforms might find is to be legal, since lending is still very tied to banks. If we start having platforms like these available, banks will need to adjust their interest rates for sure.

With what's been going on with the SEC, I only support ico's that are anticipating regulation. A favorite of mine recently would be polymath. They're a platform for issuing legally compliant security tokens on the blockchain. Not only is that a huge idea, but their platform has a network of KYC-verified investors that bridges the gap between VCs and startups as well.

https://www.bloomberg.com/news/articles/2017-08-30/it-s-about-to-become-even-easier-to-issue-blockchain-based-coins