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what is collateral and how does it work?
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Topic: what is collateral and how does it work? (Read 1401 times)
pooya87
(OP)
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Crypto Swap Exchange
what is collateral and how does it work?
February 17, 2015, 03:04:59 PM
#1
i see people giving/asking for loans talk about collateral?
what are the things that are considered collateral
i only know of the bitcointalk account, and most importantly i want to know how does it work?
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jorjito25
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Activity: 490
Merit: 500
Re: what is collateral and how does it work?
February 17, 2015, 03:15:11 PM
#2
Quote from: pooya87 on February 17, 2015, 03:04:59 PM
i see people giving/asking for loans talk about collateral?
what are the things that are considered collateral
i only know of the bitcointalk account, and most importantly i want to know how does it work?
https://bitcointalk.org/index.php?topic=577765.0
its explain here!
Let us know if u have more questions
pooya87
(OP)
Legendary
Offline
Activity: 3598
Merit: 10940
Crypto Swap Exchange
Re: what is collateral and how does it work?
February 17, 2015, 03:51:19 PM
#3
Quote from: jorjito25 on February 17, 2015, 03:15:11 PM
Quote from: pooya87 on February 17, 2015, 03:04:59 PM
i see people giving/asking for loans talk about collateral?
what are the things that are considered collateral
i only know of the bitcointalk account, and most importantly i want to know how does it work?
https://bitcointalk.org/index.php?topic=577765.0
its explain here!
Let us know if u have more questions
so for example if i want to get a loan and give my account here as collateral, i should give the Escrow my username and password right?
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jorjito25
Hero Member
Offline
Activity: 490
Merit: 500
Re: what is collateral and how does it work?
February 17, 2015, 03:53:17 PM
#4
Quote from: pooya87 on February 17, 2015, 03:51:19 PM
Quote from: jorjito25 on February 17, 2015, 03:15:11 PM
Quote from: pooya87 on February 17, 2015, 03:04:59 PM
i see people giving/asking for loans talk about collateral?
what are the things that are considered collateral
i only know of the bitcointalk account, and most importantly i want to know how does it work?
https://bitcointalk.org/index.php?topic=577765.0
its explain here!
Let us know if u have more questions
so for example if i want to get a loan and give my account here as collateral, i should give the Escrow my username and password right?
That is right, and when u repay u get it back again.
Muhammed Zakir
Hero Member
Offline
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I prefer Zakir over Muhammed when mentioning me!
Re: what is collateral and how does it work?
February 18, 2015, 11:07:29 AM
#5
Quote from: pooya87 on February 17, 2015, 03:51:19 PM
so for example if i want to get a loan and give my account here as collateral, i should give the Escrow my username and password right?
You don't really want to use Escrow, if you trust the lender, you can give it to him/her.
-MZ
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jorjito25
Hero Member
Offline
Activity: 490
Merit: 500
Re: what is collateral and how does it work?
February 18, 2015, 11:10:30 AM
#6
Quote from: Muhammed Zakir on February 18, 2015, 11:07:29 AM
Quote from: pooya87 on February 17, 2015, 03:51:19 PM
so for example if i want to get a loan and give my account here as collateral, i should give the Escrow my username and password right?
You don't really want to use Escrow, if you trust the lender, you can give it to him/her.
-MZ
Yes, that is the faster and cheapest way to do it.
ndnh
Legendary
Offline
Activity: 1302
Merit: 1005
New Decentralized Nuclear Hobbit
Re: what is collateral and how does it work?
February 18, 2015, 11:21:02 AM
#7
Quote from: pooya87 on February 17, 2015, 03:51:19 PM
Quote from: jorjito25 on February 17, 2015, 03:15:11 PM
Quote from: pooya87 on February 17, 2015, 03:04:59 PM
i see people giving/asking for loans talk about collateral?
what are the things that are considered collateral
i only know of the bitcointalk account, and most importantly i want to know how does it work?
https://bitcointalk.org/index.php?topic=577765.0
its explain here!
Let us know if u have more questions
so for example if i want to get a loan and give my account here as collateral, i should give the Escrow my username and password right?
Change the password before giving it.. You are aware of that, right?
Good stable Altcoins are another good collateral.
pooya87
(OP)
Legendary
Offline
Activity: 3598
Merit: 10940
Crypto Swap Exchange
Re: what is collateral and how does it work?
February 18, 2015, 04:47:24 PM
#8
Quote from: ndnhc on February 18, 2015, 11:21:02 AM
Quote from: pooya87 on February 17, 2015, 03:51:19 PM
Quote from: jorjito25 on February 17, 2015, 03:15:11 PM
Quote from: pooya87 on February 17, 2015, 03:04:59 PM
i see people giving/asking for loans talk about collateral?
what are the things that are considered collateral
i only know of the bitcointalk account, and most importantly i want to know how does it work?
https://bitcointalk.org/index.php?topic=577765.0
its explain here!
Let us know if u have more questions
so for example if i want to get a loan and give my account here as collateral, i should give the Escrow my username and password right?
Change the password before giving it.. You are aware of that, right?
Good stable Altcoins are another good collateral.
yeah and that is a good thing to keep in mind
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✔
Non KYC
Crypto Swap Exchange
.
.
.
.
.
........
Bitcoin | Litecoin | Ethereum | Monero | Dash | ERC20 Tokens | more soon
........
.
.
.
.
.
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Glucose
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Offline
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Re: what is collateral and how does it work?
February 18, 2015, 07:09:22 PM
#9
Quote from: ndnhc on February 18, 2015, 11:21:02 AM
Change the password before giving it.. You are aware of that, right?
Ahah
Seems silly but it's clearly a good advice ^^
Wendigo
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Offline
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Re: what is collateral and how does it work?
February 18, 2015, 07:39:43 PM
#10
A collateral is basically an insurance that the lender will get his amount back in the event of the lendee defaulting. Which is a popular sport here on the forum
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what is collateral and how does it work?
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