okcoin lending insurance

[andy75]

Hi ,
if any of you guys can share experience about insured lending at okcoin ? especially if your borrower defaulted , did the insurance cover your investment?

also i was talking with okcoin support to get a better understanding of terms , at start they said insurance does not cover 100% then after i push harder they said it does cover 100% of investment except "force majeure" , this is a very broad term which can include basically anything , i can understand fire , earthquake and so on but since lately okcoin get DDOS on daily basis is it included? (i can foresee any exchange getting attacked by hackers).

if you have an experience i would like to hear.
thank you

[Panadacoin]

Hi ,
if any of you guys can share experience about insured lending at okcoin ? especially if your borrower defaulted , did the insurance cover your investment?

also i was talking with okcoin support to get a better understanding of terms , at start they said insurance does not cover 100% then after i push harder they said it does cover 100% of investment except "force majeure" , this is a very broad term which can include basically anything , i can understand fire , earthquake and so on but since lately okcoin get DDOS on daily basis is it included? (i can foresee any exchange getting attacked by hackers).

if you have an experience i would like to hear.
thank you

Sorry I can't even sign up there. I tried a few months ago and they asked for my passport number. I do not even own a passport lol.

[VirosaGITS]

I don't know OkCoin.

But i'll tell you what i know about lending here;

You can make some steady profit and fairly fast profit depending on how you go about it.

Imo you have to do it by taking a solid collateral. The guide suggest 110% of the value and something that you can sell fairly easily.

Here is the Subforum;
https://bitcointalk.org/index.php?board=65.0

Pay close attention to this guide;
https://bitcointalk.org/index.php?topic=577765.0