Title: Not here for a loan Got a question Post by: Alaks1 on September 25, 2023, 01:53:40 PM Hey guys
I'm new here but not seeking a loan currently I just wanted to ask what's a valid collateral other than alt coins (would jewelry works)? I dont need any loan again just a random questions Have a good rest of the day/night Title: Re: Not here for a loan Got a question Post by: DireWolfM14 on September 25, 2023, 01:57:13 PM Most of your questions can be answered here: https://bitcointalk.org/index.php?topic=5460744.0#post_Collateral
Title: Re: Not here for a loan Got a question Post by: hopenotlate on September 25, 2023, 01:58:30 PM Here it is an excellent summary of what is, and is not, a valid collateral.
If you click on quoted part you can read the whole post on how to be a reliable lender/borrower. - SNIP - . Collateral: The question of what constitutes valid collateral often comes up, and is often met with some debate. Only the lender can decide what collateral suites his risk profile, however the following guidelines can help borrowers assess the likelihood of their secured loan request being accepted.
- SNIP - Title: Re: Not here for a loan Got a question Post by: stadus on September 25, 2023, 02:01:09 PM We are in the digital world, the crypto world to be specific. So, your collateral should be in crypto and should be liquid enough for the lender to sell it in case you default. It's up to the lender to decide whether they will accept the collateral, as not all altcoins are valid. Trading volume is a big factor, as well as the exchanges where it's trading.
Title: Re: Not here for a loan Got a question Post by: Bitcoin_Arena on September 25, 2023, 11:17:03 PM Let's say you are from Venezuela and you would be lender is from China?
Sending the crypto loan just takes a few minutes, but how are you going to avail him your collateral which he can easily sell to get back his money in case you defaulted the loan? Are you going to ship the jewelry all the way to China, incur all the shipment and customs costs, and the lender ships them back once you pay the loan? It doesn't make sense, do it? Title: Re: Not here for a loan Got a question Post by: SamReomo on September 27, 2023, 02:52:00 PM I'm new here but not seeking a loan currently I just wanted to ask what's a valid collateral other than alt coins (would jewelry works)? I dont need any loan again just a random questions Yes, if the lender accepts jewelry as collateral then it works as a collateral, but I'm pretty sure that only local lenders may accept jewelry as collateral for loans because other lenders who are far away from the borrower may not accept jewelry as valid collateral because it's not possible to send or receive jewelry without heavy taxation. However, if the borrower can pay those taxes and delivery charges then some kind lenders may accept jewelry as collateral if it's value is above the value of loan. Title: Re: Not here for a loan Got a question Post by: Timelord2067 on September 29, 2023, 11:52:38 PM You might want to check what the local laws on holding physical items against loans are. Pawn shops are required to hold photo i.d. details on items such as jewelery given they can be stolen from dwellings quite easily.
There are plenty of Bitcoin ATMs around the world. May I suggest . if you really do need Bitcoin with jewelry as collateral, take the item to a pawn shop and buy crypto via a crypto ATM. I see in one of your previous posts someone in Germany is sending jewelery to you in Lebanon https://bitcointalk.org/index.php?topic=5468049.msg62899582#msg62899582 Title: Re: Not here for a loan Got a question Post by: Oilacris on September 30, 2023, 04:47:14 AM I'm new here but not seeking a loan currently I just wanted to ask what's a valid collateral other than alt coins (would jewelry works)? I dont need any loan again just a random questions Yes, if the lender accepts jewelry as collateral then it works as a collateral, but I'm pretty sure that only local lenders may accept jewelry as collateral for loans because other lenders who are far away from the borrower may not accept jewelry as valid collateral because it's not possible to send or receive jewelry without heavy taxation. However, if the borrower can pay those taxes and delivery charges then some kind lenders may accept jewelry as collateral if it's value is above the value of loan. lenders of this forum then it cant be possible and they would rather be accepting altcoins as a collateral rather than with those physical jewelries which we know that every member of this forum doesnt live on the same corner. :) |