Would You Ever Take Out a Loan in Bitcoin?

[Bitbond-support]

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 

[BillyBobZorton]

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.

[WhoCaresCoins]

Yes , On this forum for VPS renting
pros easy loan
cons none

[Sharma]

In real life ?, No.
In this forum ?, will never do it again. My red trust came from asking for loan in my first post. It has happened a year ago because I have no btc whilst Iam addicted to gambling. No more loan for gambling.

[Amph]

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.

same, i would only provide it, but only if it is for a short time, let's say 1 week loan and 5% interest

the issue is that they ask for loan but in most cases no collateral is provided, at least here on the forum(btcjam isn't that better from what i've heard)

[TheMystic]

No. I wouldn't.

Pros easy loan
Cons extremely high interest

[Kanine Awe]

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.

[bitbets]

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

[ArticMine]

I would not go near borrowing Bitcoin. One takes out a loan in Bitcoin in the winter of 2001 - 2012 when Bitcoin was trading around 2 USD and then 2 years later it is worth 1000 USD. I prefer something that depreciates in value such as most fiat currencies when it comes to borrowing.

[crazyivan]

Yes, sure why not. As long as I would have something profitable to invest in, I would.

I generally never take consumer loans, just investment ones.

[Xialla]

nope, I'm just scared to take loan for anything + for bitcoin loans is usually quite high interest..

[aahzmundus]

I don't think its wrong to take a loan unless its for gambling, as if loan is taken for gambling, you will most probably won't be able to repay. I feel happy to give out loans without interest if I feel that borrower is going to repay, if no, I take a collateral. I have an open loan thread in lending section too.

[LFC_Bitcoin]

Aside from my mortgage I've never taken taken out a loan, I haven't needed to but obviously that may change in the future, I'm open to it.
I'm not sure if I'd take out a loan in bitcoin to be honest, that's not to say you shouldn't.
There are many trusted people in the marketplace section, you'll need to use an escrow though, ask around & take advice from people with multiple green trust.
Good luck if you decide to take out a loan here.

[spazzdla]

nope, I'm just scared to take loan for anything + for bitcoin loans is usually quite high interest..

Probably the interest rate of what things should be..

I have loaned money no need to loan it.  BTCjam, 1 defaulter, 100% my fault I was greedy.  I have made back all of it plus some.

[hedgy73]

I've never had a loan for btc and dont think I ever will. If I need to buy anything with btc I buy btc with fiat when I've got the spare money.

[Cryptopher]

I'm reluctant to take out financial loans of any sort, so I probably wouldn't with Bitcoin either.

On the flip side, I don't think that I would loan somebody bitcoins either, though I would be open to giving a friend or family some.

[randy8777]

i would never ask for a loan, but would hand out loans if i am offered a physical collateral. but that only for friends. i am happy to help.

[achow101]

I don't like taking loans, but I would consider giving out loans. I have not loaned on this forum before, but I have loaned on bitlendingclub before (it's like BTC Jam). I have loaned out successfully there before, and I was only scammed once, and only for a very small amount.

[hunnaryb]

I've never had a loan for btc and dont think I ever will. If I need to buy anything with btc I buy btc with fiat when I've got the spare money.

Yes I think you are correct. Taking a loan in bitcoin doesn't sounds great as high risk is involved in it and the fact is it is really difficult to trust someone as the list of scammers is increasing day by day and the interest rate is very high so it is better to drop the idea of going for a loan.

[chmod755]

Maybe if it's denominated in another currency or if it looks like Bitcoin is set to drop significantly.