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Title: Bitfinex | Offer Swap question Post by: DarkRavenGamer on May 25, 2014, 10:26:37 PM Hello!
Isn't it very profitable by just lending your money on bitfinex for swap rates at 0.6% per day? That is almost 20% gain per month. What am I missing? Title: Re: Bitfinex | Offer Swap question Post by: Kluge on May 25, 2014, 10:30:28 PM Risk of government seizure/shutdown, daily time needed to put out new offers (a good number of swap-takers are fickle and cancel the order within an hour), risk of owner running off.
We're in a bull market, too, right now, so rates are far higher than usual. Time you can basically write off if you put a lot in. If you only have, say, $500 in, though, it may not be worth the bother after factoring in the risk. ETA: Risk of account being compromised, too, of course. -And risk of BFX itself being compromised. Title: Re: Bitfinex | Offer Swap question Post by: DarkRavenGamer on May 25, 2014, 11:13:53 PM Risk of government seizure/shutdown, daily time needed to put out new offers (a good number of swap-takers are fickle and cancel the order within an hour), risk of owner running off. We're in a bull market, too, right now, so rates are far higher than usual. Time you can basically write off if you put a lot in. If you only have, say, $500 in, though, it may not be worth the bother after factoring in the risk. ETA: Risk of account being compromised, too, of course. -And risk of BFX itself being compromised. Thank you for your response. I think I'm ready to take that risk. I will give it a try. Title: Re: Bitfinex | Offer Swap question Post by: madken7777 on May 28, 2014, 02:18:02 PM Lending rate isn't always high. Also take wire fee into account.
Title: Re: Bitfinex | Offer Swap question Post by: arbitrage001 on May 29, 2014, 10:46:08 AM Hello! Isn't it very profitable by just lending your money on bitfinex for swap rates at 0.6% per day? That is almost 20% gain per month. What am I missing? Haven't seen rate this high for a while. The recent jump in bitcoin price hike the rate a little, but people borrowing the money to bitcoin make even more. |