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Title: Safe lending? Post by: slu2 on June 28, 2014, 08:31:40 AM I have a bit of coin to lend, but I want to do it as safely as possible. The lower the risk the more I can loan.
Can anyone give some advice on how they have been able to do this with loans of 5BTC and up? Collateral of course makes the most sense, but it is a difficult arrangement, especially for tangible assets. I would loan BTC on real estate deeds, and possibly other assets. Any advice would be appreciated! Title: Re: Safe lending? Post by: haploid23 on June 28, 2014, 08:40:05 AM This lending subforum is now filled with either beggars or scammers out for a quick buck. Just be really cautious when lending out that much. Collateral and account history is king. Words and promises don't mean much. Make sure terms and conditions are all laid out and both lender and borrower agrees to the terms before anything is sent.
Title: Re: Safe lending? Post by: Light on June 28, 2014, 10:35:26 AM I have a bit of coin to lend, but I want to do it as safely as possible. The lower the risk the more I can loan. Can anyone give some advice on how they have been able to do this with loans of 5BTC and up? Collateral of course makes the most sense, but it is a difficult arrangement, especially for tangible assets. The best way to stay safe has always been with collateral. If possible you should loan to those you've met before in real life and can judge their character (doesn't matter so much with collateral). That being said, nowadays there aren't that many significant loans (in size) that can afford to be collateralized by the borrower so you're assuming a lot of risk by lending that much without collateral. Considering that you're willing to lend upwards of 3K, physical assets are a viable option as collateral provided you're in the same country as the borrower (as fees for shipping will be insignificant in comparison to the interest from the loan) so you'd be best to explore that option. People usually don't have enough digital collateral (usually altcoins) to reach 3K and you might not want it as they can be rather volatile. Title: Re: Safe lending? Post by: CryptoKilla on June 29, 2014, 01:36:13 PM I have a bit of coin to lend, but I want to do it as safely as possible. The lower the risk the more I can loan. Can anyone give some advice on how they have been able to do this with loans of 5BTC and up? Collateral of course makes the most sense, but it is a difficult arrangement, especially for tangible assets. I would loan BTC on real estate deeds, and possibly other assets. Any advice would be appreciated! Your best bet will be either collateral or collateral. If you decide to take alt coins as collateral make sure you get at least 120-150% of the loan worth. When dealing with that much volume of an alt coin there is always the risk of huge swings in value if they default on the loan. If you are going to go the route with real estate deeds or other physical assets, it's going to be tough to coordinate it unless the person receiving the loan lives close to you. Otherwise it will be more hassle than it's worth from my experience. Good luck to you :) |