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Author Topic: Binance USDT Lending (Fixed 6% interest for 1 month period)  (Read 222 times)
Mike Mayor
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December 19, 2019, 05:56:25 PM
 #21

Hmmm, 6% monthly is a huge money which is not feasible. Otherwise everyone can just put their money and go to sleep. It should be yearly which is understandable.  What happens when exchange gets hacked, are the loans backed up by anything!

Exactly. 6% monthly is not going to work. How will they invest the money to make it back? This is just a promotion. They not going to have it open forever. This is also why there is a limited amount of people that can invest.
6% a year would be sustainable though I would not be happy without legal protection. The next day the place you invested is not there any more and there is nothing you can do about it.

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December 22, 2019, 09:29:45 AM
 #22

Hmmm, 6% monthly is a huge money which is not feasible. Otherwise everyone can just put their money and go to sleep. It should be yearly which is understandable.  What happens when exchange gets hacked, are the loans backed up by anything!

Exactly. 6% monthly is not going to work. How will they invest the money to make it back? This is just a promotion. They not going to have it open forever. This is also why there is a limited amount of people that can invest.
6% a year would be sustainable though I would not be happy without legal protection. The next day the place you invested is not there any more and there is nothing you can do about it.
Must need trust for that, binance also has a reputation that cannot be underestimated just because of hacking. The 6% program has ended for new subscribers. I look at the history of their success with 6%, even running for 14 days in the previous event, it's natural that many are waiting for the same event to reopen.

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December 22, 2019, 03:52:29 PM
 #23

What do you think? It's hard to join lending cause its easily been filled up.
If you guys have spare amount then why go with the lending especially with a 6% interest rate, it's quite big for me though. I mean it's hard to loan a money as you wouldn't know what could possibly happen next to your trading. Just stick on what you knew you could earn and trade with your means.

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December 24, 2019, 04:46:00 AM
 #24

The risk of this loan is very high. Without full confidence, I will not start the loan of digital tokens. I always use my spare money to buy cryptocurrencies.

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shoreno
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December 25, 2019, 06:14:24 AM
 #25

The risk of this loan is very high. Without full confidence, I will not start the loan of digital tokens. I always use my spare money to buy cryptocurrencies.

risk ? you mean the interest rate rather  . i feel that 6 percent interest rate per month is already way too much but not really far from other greedy lenders that i know but i guess that is how lending company/business works .  this is why i dont ever try to lend on a lending company or a lending platform  online but i rather prefer borrowing money directly to the people that i know  because i can negotiate the interest and my repayment if delay  . and thats also what you do , you are also a wise guy like me  .
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