Loans?

[jpoker272727]

I'm curious how the lending portion of this site works, or even the trading portion... 

[Jhanzo]

same as anywhere else. only that most users here are more cautious and prefer not to give any loan without collateral to people with little or no reputation.

[sana6801]

u can get any amount of loan ,just get the collateral ..thats it.

[Pro Gamers]

Unlike to any other lending sites out of here you can get loan instant and not recommended to submit numerous documents that can even lead you to have more problems one day. This site is the best for lender and loaner  As i know.

[RodeoX]

Know that there are many scammers here and in the loan section especially. If you plan to ask for a loan or even buy coins here then you will likely need at least one of the following:

Collateral:
The lender may want to hold something of greater value until the debt is paid off. It could be a car title or, well... a lot of things could work. There is a reason why a bank requires this and it is the same here.

Escrow:
In this system a trusted third party holds the until the buyer and seller are satisfied that all terms have been met. The escrow can then release the coins.

Identity:
Some may not do business with an anonymous user and may want to have an identity to hand over to the police in the event a scam is attempted.

If you are considering a loan as a way to get bitcoins then please reconsider. It is probably the most expensive and risky way to get them and you should not be surprised if your money is taken and there never were any coins. It is better to use the exchanges, in my opinion.

[jpoker272727]

I think collateral would be the only way I to do it safely, is there a service that you can use as an independent third party to "hold" the car title, (or whatever) until both parties are satisified?

[jpoker272727]

Know that there are many scammers here and in the loan section especially. If you plan to ask for a loan or even buy coins here then you will likely need at least one of the following:

Collateral:
The lender may want to hold something of greater value until the debt is paid off. It could be a car title or, well... a lot of things could work. There is a reason why a bank requires this and it is the same here.

Escrow:
In this system a trusted third party holds the until the buyer and seller are satisfied that all terms have been met. The escrow can then release the coins.

Identity:
Some may not do business with an anonymous user and may want to have an identity to hand over to the police in the event a scam is attempted.

If you are considering a loan as a way to get bitcoins then please reconsider. It is probably the most expensive and risky way to get them and you should not be surprised if your money is taken and there never were any coins. It is better to use the exchanges, in my opinion.

Actually I was thinking about maybe lending a small amount of coins, bc I have seen the amounts that people ask for and I wouldnt have a problem making a small return if I could.  But I'm gonna kind of stick around the forums for the next few days and see how things work....

[u9y42]

I think collateral would be the only way I to do it safely, is there a service that you can use as an independent third party to "hold" the car title, (or whatever) until both parties are satisified?

As RodeoX pointed out, the independent third party to hold the collateral would be an escrow - several trusted members on this forum provide this service.

Take a look at the following thread for an updated list (well, last updated late last month) of escrows: https://bitcointalk.org/index.php?topic=855778.0; and also, this post/thread for what is usually considered to be safe collateral, and what isn't: https://bitcointalk.org/index.php?topic=577765.msg6311902#msg6311902.

[jpoker272727]

See heres my issue, Theres someone who posted he needs a loan for approx 0.3 and says he'll pay 0.4 in a few days.  I'd love to do that, his collateral is a localbitcoins account?  But everyone told him that not collateral and worth nothing. 

Can you guys give me a few examples of what would be an appropriate collateral for this one?   Then Ill PM the person and let them know.

Thanks!

[zazarb]

See heres my issue, Theres someone who posted he needs a loan for approx 0.3 and says he'll pay 0.4 in a few days.  I'd love to do that, his collateral is a localbitcoins account?  But everyone told him that not collateral and worth nothing. 

Can you guys give me a few examples of what would be an appropriate collateral for this one?   Then Ill PM the person and let them know.

Thanks!

just read "What is not considered collateral?" by  VOD
https://bitcointalk.org/index.php?topic=577765.0

[jpoker272727]

I just contacted devthedev, he seems to be the go to guy, so hopefully he gets back to me on what to do.

[Pro Gamers]

I just contacted devthedev, he seems to be the go to guy, so hopefully he gets back to me on what to do.

Goodluck to your decision and 0.1 interest for few days sounds fishy to me you better watch out if the loaner is a newbie or a high rank member that has a good trust if not you should not do this loan.