Loans too risky?

[Zadicar]

The best way is to give loans to those people to whom you personally know as if you give loans to those people who you do not know or those people will live far away from you then at default it will be hard for you to get that amount from them.

Yes that is the best thing to do if you are going to be a lender and you have a business like that. Only trust those people who know you personally because even you are going to ask some collateral from those people who you don't know. They will not just going to be obliged to re-pay you because you have the collateral and they are going to think it that they are going to pay you with it.

That's why if you want to success in this lending business you should take a collateral which you can easily liquidate for money otherwise don't take that collateral. If you manage it correctly, then you can make a profit on a regular basis. But don't ever give loans without any collateral.

It's hard to give a loan online, scammers are everywhere there is really no such good collateral that they can offer. I would be glad if I can take a collateral like a land title or anything valuable for the borrower so he will have interest in repaying his loan.

Having a strong collateral  would be the  basis when you should give a loan to someone thats why its important to look for collaterals so that if they dont pay their loans then you have a thing to get from them which is also a good return for you and make sure those  thing  would be  more valuable than the  loan amount.

[gkv9]

I used to get loans without any collateral, but I too follow a strict rule and always advice new people who are willing to lend anything, just don't lend anything unless you get any collateral which is 110 - 120% the worth of amount asked in loan... You won't possibly fall for scam if you will do it this way...

[TastyChillySauce00]

The best way is to give loans to those people to whom you personally know as if you give loans to those people who you do not know or those people will live far away from you then at default it will be hard for you to get that amount from them.

well that's incase if the one who requesting loan doesn't provide any collateral,if the one who request loan could provide a collateral atleast worth 130% or even more,it'll be fine if it comes to defaulted loan,just sell the collateral,but still selling a collateral isn't that easy as i speak
just dont take a risk if you're not ready

[Positid]

The best way is to give loans to those people to whom you personally know as if you give loans to those people who you do not know or those people will live far away from you then at default it will be hard for you to get that amount from them.

well that's incase if the one who requesting loan doesn't provide any collateral,if the one who request loan could provide a collateral atleast worth 130% or even more,it'll be fine if it comes to defaulted loan,just sell the collateral,but still selling a collateral isn't that easy as i speak
just dont take a risk if you're not ready

130% is not even enough, you should ask a collateral bigger than that so he will be force to pay his loan. It is not that we are interested of the collateral but we just want to ensure that the borrower will think of his debt to us. We are in the business of money so liquidity is our first concern.

[Leonard2016]

The best way is to give loans to those people to whom you personally know as if you give loans to those people who you do not know or those people will live far away from you then at default it will be hard for you to get that amount from them.

well that's incase if the one who requesting loan doesn't provide any collateral,if the one who request loan could provide a collateral atleast worth 130% or even more,it'll be fine if it comes to defaulted loan,just sell the collateral,but still selling a collateral isn't that easy as i speak
just dont take a risk if you're not ready

130% is not even enough, you should ask a collateral bigger than that so he will be force to pay his loan. It is not that we are interested of the collateral but we just want to ensure that the borrower will think of his debt to us. We are in the business of money so liquidity is our first concern.

why isn't it enought?!!
if the person doesn't pay his loan you can easily sell the collateral only if you have received a valid one which can be easily sold.
for example you can take LTC as collateral and sell it super easy to get your money back and even 110% is enough in this case.

[diodio5]

yeah it might be really risky thats why i never give any loans or take it

You are doing correct. giving and taking loans is very risky.. but if you get a valid collateral at the time of giving the loan. your risk will be reduced so much. even if the person who took the loan won't pay back your money, you can sell the collateral at the 120% price of the loan amount and get your money back with 20% profit. that's what nowadays lenders doing..

yeah of course by minimizing the risk you could ask them to provide a guarantee that has a price of at least 120% more expensive than the money that you lent. if they do not provide assurance that more expensive. then I think do not lend to them because it will give a big risk

But what guarantee can they provide that we are sure they will pay their loans. In the online world it is hard to to lend money as you do not know the real information of the person you are trusting to borrow your money, it is still better to have a hard collateral that any bitcointalk account for loan.

I think bitcointalk accounts is still valuable for use as collateral maybe we can use it. certainly with the rate of actual prices that account.
maybe you could borrow 0.1 BTC bail hero account member. maybe it will be very safe for you to lend money?

[SvenBomvolen]

   Loans without valid collateral are really risky, collateral need to have higher value then loan. In that case loaner can make profit with selling collateral to someone else.
   If loaner do business like this, there is no risk for his loan. Banks are making profit for years in this way, loan sharks also. Risky work, but they are around so many centuries that its visible how much profit thwy make each year.
   I took loan from bank, and I'm paying them back every month for that. I needed cash and for me that was only way to acquire cash without doing something illegal.

[CryptoVision]

In my oponion, Bitcoin loans are too risky, because there are too many scammers online, and you don't want to be a victim from it. At this time, I think what you need to do is hold your coins and wait until price increase, to invest in something else later.

[HaXX0R1337]

I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?

Something I should have added my friend was doing something you guys call "mining" I am very knew to the bitcoin world even though I have had them for a long time. I bought these bitcoin from him because he needed to sell them, my financial advisor has told me that the longer I wait the more return I would get so I told him hold the account for 5 years and ill see where I am... So last July I had gotten my account back, did a bunch of research then found you guys. So I came here to post a few posts and for everyone skeptical this is the proof https://gyazo.com/ee99cef712e9b72f03a3e8e870c33624

Actually, loan does not have to be risky- you can have good collateral, so you wont lose if somebody won't give money back, or you can just
use the option where  they wont scam you: for example at poloniex, in loans "palace"

[Xester]

In my oponion, Bitcoin loans are too risky, because there are too many scammers online, and you don't want to be a victim from it. At this time, I think what you need to do is hold your coins and wait until price increase, to invest in something else later.

Bitcoin loans are both risky and not. If you made a loan for the purpose of converting it to cash and use it for families needs then it is okay. But if it will be used for investment especially hyip then its not worth it due to the risk. And lastly if you are planning to use it in gambling then it is the worst thing ever, since gamblingmay eat all your balance in just a short amount of time.

[lister storm]

I used to get loans without any collateral, but I too follow a strict rule and always advice new people who are willing to lend anything, just don't lend anything unless you get any collateral which is 110 - 120% the worth of amount asked in loan... You won't possibly fall for scam if you will do it this way...

i never got a loan to be honest because it is way too risky for me, also i never give them because people can offer worthless stuff for collateral

[Zooplus]

I used to get loans without any collateral, but I too follow a strict rule and always advice new people who are willing to lend anything, just don't lend anything unless you get any collateral which is 110 - 120% the worth of amount asked in loan... You won't possibly fall for scam if you will do it this way...

i never got a loan to be honest because it is way too risky for me, also i never give them because people can offer worthless stuff for collateral

There is no risk involve in borrowing money because if you cannot pay you will not go to jail, in the first place you are not putting your real information so the risk is always on the lender, the you are right the collateral sometimes is just a worthless stuff so this is not a good business.

[Snorek]

In my oponion, Bitcoin loans are too risky, because there are too many scammers online, and you don't want to be a victim from it. At this time, I think what you need to do is hold your coins and wait until price increase, to invest in something else later.

If you want to trust everyone you potentially can met online, and after a brief exchange of posts, PMs, chat you are willing to lend him/her your BTC then you are in trouble.
And with proper collateral bitcoin lending is still very profitable business. Even if you sometimes won't receive your bitcoins back, with good collateral you will be still ahead.
 

[Maslate]

In my oponion, Bitcoin loans are too risky, because there are too many scammers online, and you don't want to be a victim from it. At this time, I think what you need to do is hold your coins and wait until price increase, to invest in something else later.

If you want to trust everyone you potentially can met online, and after a brief exchange of posts, PMs, chat you are willing to lend him/her your BTC then you are in trouble.
And with proper collateral bitcoin lending is still very profitable business. Even if you sometimes won't receive your bitcoins back, with good collateral you will be still ahead.
 

The big question is what are the proper collateral, we know we are transacting in a online world and we cannot ensure a borrower will give a hard collateral that we can dispose for money.

[gandame]

I used to get loans without any collateral, but I too follow a strict rule and always advice new people who are willing to lend anything, just don't lend anything unless you get any collateral which is 110 - 120% the worth of amount asked in loan... You won't possibly fall for scam if you will do it this way...

i never got a loan to be honest because it is way too risky for me, also i never give them because people can offer worthless stuff for collateral

Yeah many people now have idea for loaning they get a collateral for they can assure that their money is safe if the loaner can pay fot it in the time they give. So they ask first for collateral before their give the money you can borrow for them. But make sure before you give your collateral is you know that person most in online world.

[crairezx20]

In my oponion, Bitcoin loans are too risky, because there are too many scammers online, and you don't want to be a victim from it. At this time, I think what you need to do is hold your coins and wait until price increase, to invest in something else later.

If you want to trust everyone you potentially can met online, and after a brief exchange of posts, PMs, chat you are willing to lend him/her your BTC then you are in trouble.
And with proper collateral bitcoin lending is still very profitable business. Even if you sometimes won't receive your bitcoins back, with good collateral you will be still ahead.
 

The big question is what are the proper collateral, we know we are transacting in a online world and we cannot ensure a borrower will give a hard collateral that we can dispose for money.

Well especially if you are going borrow bitcoin here in forum the most effective way of giving a collateral would be your account. And the lenders are going to be choosy with it. They are going to choose only the borrowers that has a good account and has a highrank account here in bitcoin talk.
That is the only collateral that I can think of.

Yeah your right because accounts still have a value here. but if signature campaign remove by admin expect that all account have no value..
So i think we need to find other good collateral like invest some bitcoin in altcoin because some other members here in lender section are accepting altcoin as collateral. .

[JeffBrad12]

The best way is to give loans to those people to whom you personally know as if you give loans to those people who you do not know or those people will live far away from you then at default it will be hard for you to get that amount from them.

well that's incase if the one who requesting loan doesn't provide any collateral,if the one who request loan could provide a collateral atleast worth 130% or even more,it'll be fine if it comes to defaulted loan,just sell the collateral,but still selling a collateral isn't that easy as i speak
just dont take a risk if you're not ready

130% is not even enough, you should ask a collateral bigger than that so he will be force to pay his loan. It is not that we are interested of the collateral but we just want to ensure that the borrower will think of his debt to us. We are in the business of money so liquidity is our first concern.

why isn't it enought?!!
if the person doesn't pay his loan you can easily sell the collateral only if you have received a valid one which can be easily sold.
for example you can take LTC as collateral and sell it super easy to get your money back and even 110% is enough in this case.

It's enough but one important this before you're giving loans to someone, and if you know about bank there is always giving loan is more lower than the value of their collateral because if anytime their loaners are not come back in their wallet and you can always recharge your loss money in loan with a new funds with more profit but I think that's way is like cheating. just telling about bank system

[adibe]

Actually loans is not always that risky. I mean, you also get the collateral too. But, remember to get good collateral and same as the money that you give loan.

[eternalgloom]

I used to get loans without any collateral, but I too follow a strict rule and always advice new people who are willing to lend anything, just don't lend anything unless you get any collateral which is 110 - 120% the worth of amount asked in loan... You won't possibly fall for scam if you will do it this way...

Do you get a lot of offers for loans if you ask for collateral? Just wondering if I would make enough to make it worth my time..
Since people could just exhange the altcoin instead of taking a loan.

[nova-rider]

There is the possibility for you to start out your own lending company here, and you can build trust in the forum. But you must, of course, to use escrow before going to get trust out of the people. But that's just my opinion about it.