We're offering cashback offers for lenders for the rest of the September. These are: Currently registered and unregistered lenders: - Invest $200 or more to receive $20 cashback
- Invest $500 or more to receive $50 cashback
- Invest $2,000 or more to receive $200 cashback
This offer is valid on all successful investments (the loan must get funded) from now (16th of September) until the 30th of September. If you place a bid in that time, but the loan gets funded in October it will still count towards your cashback. You will receive your cashback into your Bitbond account by the 14th of October. Thanks for reading and have a great day. Can you explain more about the methods of investing in businesses through Bitbond? Sure. Small business owners from around the world can rarely get the financing they need to grow their business. A successful eBay seller in Brazil for example, will find it nearly impossible to prove his creditworthiness to his bank. As a result there is a nearly $2 trillion (!!) funding gap for small businesses around the world. On Bitbond we provide a way for entrepreneurs to apply for a loan to help grow their business. Investors can help fund these loans in order to receive principal plus interest back. The minimum investment is 0.01 bitcoin, giving you a great opportunity to diversify your investments and spread risk. Investors looking to passively invest, can take advantage of our AutoInvest feature. This will automatically invest into loans which fit strict parameters defined by you. We have quite an active youtube channel where we go into investing on bitbond in quite some detail. I hope and recommend you check it out  |
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We're offering cashback offers for lenders for the rest of the September. These are: Currently registered and unregistered lenders: - Invest $200 or more to receive $20 cashback
- Invest $500 or more to receive $50 cashback
- Invest $2,000 or more to receive $200 cashback
This offer is valid on all successful investments (the loan must get funded) from now (16th of September) until the 30th of September. If you place a bid in that time, but the loan gets funded in October it will still count towards your cashback. You will receive your cashback into your Bitbond account by the 14th of October. Thanks for reading and have a great day. |
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Building on the work of The Economist, bitcoinppi.com offers a bank agnostic value of bitcoin. Precisely, BitcoinPPI shows users how many Big Mac hamburgers they can buy with one bitcoin. The project is open source and naturally allows users to target their bitcoin Purchasing Power locally. You can visit it here http://bitcoinppi.com/ BTC |
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Building on the work of The Economist, bitcoinppi.com offers a bank agnostic value of bitcoin. Precisely, BitcoinPPI shows users how many Big Mac hamburgers they can buy with one bitcoin. The project is open source and naturally allows users to target their bitcoin Purchasing Power locally. Visit it here http://bitcoinppi.com/ BTC |
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What happens if I borrow ten bitcoins, and then the price shoots up to $1,000 per coin? Am I sunk?
If you've denominated it in BTC, then I would assume, yes, you are pretty screwed. But as far as I'm aware there's also an option on Bitbond to denominate it in USD so you pay back the USD value. Obviously that also means you lose out if the price of Bitcoin drops and you have the loan denominated in USD, but if you're really susceptible to changes in Bitcoin price that might be worth it. What the hell , so people borrow Bitcoins but basically the USD value ? if I borrow 1 BTC and the price is not 220$ and tomorow I should give refund and the price is 110$ per BTC , I should give back 2 BTC instead of 1 BTC ? isn't that kind ascrewed up ? Also what's the difference between this website and BTCjam they look the same (Iguess the rates changes only and also the borrowing method in BTCjam you can choose USD or BTC ) Like I said, there's two denomination values. I don't use Bitbond myself, I just had a quick look and it seems people can choose what "Base Currency" for their loan to be denominated in. Someone who doesn't mind risk probably won't care about denominating their loan in Bitcoin. Someone who knows they have a fair salary and wants to avoid risk can equally opt to have the loan be denominated in USD. Well said, thank you. You can also find our more here http://blog.bitbond.com/exchange-rate-pegged-loans/The blog post has been updated to this one https://www.bitbond.com/resources/exchange-rate-pegged-loans/   |
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I would never take out a Bitcoin loan on this site. There are too many scammers here, either I will end up never getting the money back or the price of Bitcoin would rise by so much I would not be able to pay back the loan. It's best to earn and save the money you need up front.
Thank you for your comment  What if the loan was denominated in dollars so that fluctuations in the bitcoin price would become irrelevant? |
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Hey Bitcoin Community! Essentially, I would like to know if you would ever consider taking out a loan in bitcoin? If you have previously taken out a loan, please share your experiences! What were the pros and cons, and what would you improve? Thanks no.. i try not to do the loan thing. .. don't front.. if you do and you dont get paid back then you lose both your money and your customer. thats your fault. Good point. However all reputable bitcoin p2p lending companies would urge you to diversify as much as possible. Therefore, you can make many, smaller loans, allowing you to make up any shortfall through the interest rates accumulated through your diversifyed loans. |
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People do it all the time on btcjam, and then just simply never pay it back.
Actually, a wide variety of measures are taken by companies like btcjam and bitbond to ensure a reliable credit rating. Furthermore, all reputable p2p bitcoin sites urge lenders to diversify their portfolio as much as possible. Thus, even if one borrower fails to repay his loan, the repayment of other loans to the same lender more than make up for the initial shortfall! |
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I would consider taking out a loan in bitcoin, sure.
For a small loan, from 0.01 to 0.25 btc or up to 1 btc, I have some colateral to reduce or eliminate the risk for the lender too, but I would likely try to start out with a small loan up to 0.10 btc
If you were given a small amount of bitcoin to invest in another person, would you be interested in taking the time to test the platform? |
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I have never taken a loan since I have never needed it, but I was considering giving out loans to other people myself using some of my BTC. They usually recommend BTCJam but im not sure if I can trust it, since it seems the number of scammers is high and they don't seem to be doing anything about it for you to recover the lost money. It just feels like a gamble.
If you were offered free bitcoin to invest in another person, would you be willing to take the time to test the platform? |
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I have never taken a loan since I have never needed it, but I was considering giving out loans to other people myself using some of my BTC. They usually recommend BTCJam but im not sure if I can trust it, since it seems the number of scammers is high and they don't seem to be doing anything about it for you to recover the lost money. It just feels like a gamble.
If you were offered a small number of Bitcoins for free to invest in another person, would you use them to invest, or cash out? |
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No I wouldn't. The interest of all the loans is much higher than if i were to just take out a loan in cash and buy BTC for what i needed.
That's surprising. You can get a Bitcoin loan for 7.7% p.a. That should be significantly below what the banks offer for an unsecured loan, no? Thanks for your comment! |
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If there was a legit company that gave loans for a reasonable rate, AND there was a company selling something like a car that I can't afford out of pocket, then I might take a loan. But I really don't see this happening any time soon. I can't believe people take loans on this forum, the interest rate is sometimes as high as 1000's of percent annualized. Its just insane!
Thank you for your comment! what if the rate of interest was 7.7% p.a? This is probably significantly lower than the rates offered by any bank on an unsecured loan! Thanks again! |
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I would be nervous taking out a loan in bitcoins. I am paid in fiat not bitcoins so the rapidly changing price of bitcoins could bit you in the butt if it goes against you. And it almost certainly would at some point, assuming a decent sized loan.
Depends in how you agree on the loan. If you take a loan for 100 USD in bitcoin, and repay 105 USD in bitcoin, price of bitcoin doesnt really matter. The other party only has to make sure to buy the bitcoin at the time of the loan and sell it right after to take his cut in fiat. actually it does matter, if there is the risk that they will steal your bitcoin, if you start a loan that will be repaid after many months, and you payed 1 btc for it and then the price of btc skyrocket, and the guy that requested it vanishes, you lost much more than what you had at the beginning What information would need to be available to you in order for you to trust the other person enough to invest in them? |
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I have never taken a loan since I have never needed it, but I was considering giving out loans to other people myself using some of my BTC. They usually recommend BTCJam but im not sure if I can trust it, since it seems the number of scammers is high and they don't seem to be doing anything about it for you to recover the lost money. It just feels like a gamble.
Thanks for your insights! I would say that of course, any investment is a gamble to some extent, but diversifying your portfolio, i.e. making numerous small investments in different people located in different countries minimizes that risk. If you were given a small amount of bitcoins to invest from us (bitbond ) would you consider using the platform? Thanks again! |
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Hey Bitcoin Community! Essentially, I would like to know if you would ever consider taking out a loan in bitcoin? If you have previously taken out a loan, please share your experiences! What were the pros and cons, and what would you improve? Thanks |
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