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Why people give altcoins as collateral?
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Topic: Why people give altcoins as collateral? (Read 1991 times)
Hashminers
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Re: Why people give altcoins as collateral?
January 03, 2016, 04:18:25 PM
#21
Quote from: fricircled on January 03, 2016, 09:27:40 AM
Quote from: bit1 on December 27, 2015, 10:00:57 PM
True, Not all altcoins are valid, Almost aren´t valid, LTC is an example of valid.
Examples are litcoin, monero, ethereum or dash, dgb. Those are large market cap coins. Easier to get rid of.
Volume is very important. Low volume coins can only be sold at loss.
But stil coins are a better form of collateral then an account.
Altynbekova
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Re: Why people give altcoins as collateral?
January 03, 2016, 07:28:59 PM
#22
I am not in the selling of things yet, but i would defineatly accept altcoins with a good daily volume.
It's as safe at bitcoin so you are sure to get your money back.
Nameless Coin
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Re: Why people give altcoins as collateral?
January 03, 2016, 08:27:03 PM
#23
Quote from: Altynbekova on January 03, 2016, 07:28:59 PM
I am not in the selling of things yet, but i would defineatly accept altcoins with a good daily volume.
It's as safe at bitcoin so you are sure to get your money back.
I offer some loans sometimes and I only accept big volume altcoins like litecoin, dash and Ethereum.
Most other altcoins I don't accept since they are not listed on my exchange.
extrabyte
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Re: Why people give altcoins as collateral?
January 03, 2016, 09:39:25 PM
#24
Not everyone accepts altcoins as collateral, unless there are only few most popular like lt doge nxt or a few more, by this the lender want to be sure to get at least 110-120% just in case if he needs to sell the collateral to not lose even if the altcoin price changes a bit.
fricircled
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Re: Why people give altcoins as collateral?
January 08, 2016, 01:27:27 PM
#25
Quote from: Nameless Coin on January 03, 2016, 08:27:03 PM
Quote from: Altynbekova on January 03, 2016, 07:28:59 PM
I am not in the selling of things yet, but i would defineatly accept altcoins with a good daily volume.
It's as safe at bitcoin so you are sure to get your money back.
I offer some loans sometimes and I only accept big volume altcoins like litecoin, dash and Ethereum.
Most other altcoins I don't accept since they are not listed on my exchange.
What happens if the price of the bitcoin rise, and those altcoin price drops against bitcoin even though their dollar value remains the same?
lahm-44
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Re: Why people give altcoins as collateral?
January 08, 2016, 04:28:50 PM
#26
Well there are many reasons to use altcoins for loan colletral. maybe the a person has invested in some altcoins and the price has suddenly fallen so he decided to hold the altcoins and when he needed a loan then he gave those altcoins as colletral because if he convert them now then it will lose its real value ( loss )
Amph
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Re: Why people give altcoins as collateral?
January 09, 2016, 07:32:22 AM
#27
Quote from: fricircled on January 08, 2016, 01:27:27 PM
Quote from: Nameless Coin on January 03, 2016, 08:27:03 PM
Quote from: Altynbekova on January 03, 2016, 07:28:59 PM
I am not in the selling of things yet, but i would defineatly accept altcoins with a good daily volume.
It's as safe at bitcoin so you are sure to get your money back.
I offer some loans sometimes and I only accept big volume altcoins like litecoin, dash and Ethereum.
Most other altcoins I don't accept since they are not listed on my exchange.
What happens if the price of the bitcoin rise, and those altcoin price drops against bitcoin even though their dollar value remains the same?
it has happened already but it is very rare and not for the top altcoin, since some of them are directly tied with fiat like bitcoin
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