[ANN] Cryptolend.net - Automatic online lending

[memequiserle]

The website is very good and design too, but profit ~ 20% per year is not too much. So may be it is possible to make profit higher.  

profit in online investment only 20%/year is very small profit
because online investment is high risk, you can investment in bankroll in gambling site , profit is above 20%/year
or you can investment in cloud mining, can compound system and profit can incraese over 20%/year

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[ajwest]

A few days ago I read about this Crypto Lend service in passing on reddit. Personally, I find all the exchange funding pages to be very complex, and the chart of lending/borrowing is always changing, so I am happy to let a service do this step for me. Obviously I am very pleasantly surprised to find that the service is free, and by using API keys through exchanges there's no risk from the service itself. I've got to say I am really impressed! So far I've only put 2.5 BTC on exchanges to be lent, but it has been lending and working well for me. At first I was under the impression that there was an element of arbitrage, where the cryptolend service would find the best rates and move BTC between the exchanges. But that's not the case, you put your money on the exchanges manually, where the Crypto Lend bot can see it at which point it sets the bitcoin to lend though that exchange's API.

Bitmex:
I'm a little wary of doing this on Bitmex because there are so many warnings and the concept of lending on Bitmex is complicated. Plus you get charged some sort of fees for the conversion/opening, I just have no idea what I'm doing there so I've stayed away.

Bitfinex/Poloniex:
The rates since I've started two days ago for Bitfinex have been less than half of Poloniex, so I've put a bit more on Poloniex. This point has nothing to do with Crypto Lend as a service, but just to say it's working well on both exchanges lending BTC.

Final worries:
Crypto Lend is awesome, I wish there was a way for you to take a % of the profits because that seems like some good goal congruence, but I guess without actually giving Crypto Lend control of the funds, that'll never happen fluidly (invoice people maybe? First 1BTC of profit is free, then pay $30?). Since my coins are usually just sitting around anyhow, I wish there was less risk to my cold storage if I were to put them on these exchanges! If I could have even the smallest guarantee or insurance against exchange hack/theft, I would let Crypto Lend take care of lending all of my funds.

[gdupont]

Hi ajwest,

Thanks for your kind message. We wish you a happy lending

[gdupont]

Last days we welcomed A LOT of new users. We took the opportunity to realize huge scaling development and improve robustness. We now have a 2nd back-end server and the possibility to add many more. We are sorry for the recent outages. It should come back to normal now.

[gdupont]

New strategy available! Split your initial funds over a period of time, to divide your loans in small chunks and profit from average rate.

[ranlo]

New strategy available! Split your initial funds over a period of time, to divide your loans in small chunks and profit from average rate.

Is there any fee for using this system, and can you set it up to be dynamic or do you have to set the % you're going for?

[bussybuddy]

All the naives are here ... easy money ... new topic will start soon with same users ... 😄

[ajwest]

Is there any fee for using this system, and can you set it up to be dynamic or do you have to set the % you're going for?

Crypto Lend does not cost whatsoever, and you can choose a strategy for the types of loans/% return. First you put your Bitcoin on one of the supported exchanges. In your profile on the exchange you can generate an API key, which you copy over to your Crypto Lend profile. This allows the Crypto Lend bot to loan out funds on your behalf. By ensuring "Withdraw" permissions are disabled when you generate your API key, you can have some extra peace of mind that Crypto Lend does not even have the ability to withdraw your money from your exchange account. You can always login to the exchange to see your loans, including the ones made by the Crypto Lend bot.

After copying over your API key and secret, go to the Crypto Lend "Strategy" page to Activate lending on the exchange. Every few minutes the Crypto Bot checks your account(s) through the APIs, and if there are funds in your Lending account on the exchange it'll automatically choose the best rates according to your strategy. I use the default strategy, sometimes the Crypto Bot takes an offered loan and other times it offers my funds as a new loan.

Also note that the "Loans" page shows averages for the day in GMT.

[bussybuddy]

The website is very good and design too, but profit ~ 20% per year is not too much. So may be it is possible to make profit higher.  

Look at this user! Congrats for caution! 😄😄😄

[ranlo]

Is there any fee for using this system, and can you set it up to be dynamic or do you have to set the % you're going for?

Crypto Lend does not cost whatsoever, and you can choose a strategy for the types of loans/% return. First you put your Bitcoin on one of the supported exchanges. In your profile on the exchange you can generate an API key, which you copy over to your Crypto Lend profile. This allows the Crypto Lend bot to loan out funds on your behalf. By ensuring "Withdraw" permissions are disabled when you generate your API key, you can have some extra peace of mind that Crypto Lend does not even have the ability to withdraw your money from your exchange account. You can always login to the exchange to see your loans, including the ones made by the Crypto Lend bot.

After copying over your API key and secret, go to the Crypto Lend "Strategy" page to Activate lending on the exchange. Every few minutes the Crypto Bot checks your account(s) through the APIs, and if there are funds in your Lending account on the exchange it'll automatically choose the best rates according to your strategy. I use the default strategy, sometimes the Crypto Bot takes an offered loan and other times it offers my funds as a new loan.

Also note that the "Loans" page shows averages for the day in GMT.

Thanks for the response! Not sure if you're part of the CL team, but if so, curious as to where the monetization comes into play for CL itself. It's not a free service to run, so it has to be financed from somewhere/something.

[gdupont]

Is there any fee for using this system, and can you set it up to be dynamic or do you have to set the % you're going for?

Crypto Lend does not cost whatsoever, and you can choose a strategy for the types of loans/% return. First you put your Bitcoin on one of the supported exchanges. In your profile on the exchange you can generate an API key, which you copy over to your Crypto Lend profile. This allows the Crypto Lend bot to loan out funds on your behalf. By ensuring "Withdraw" permissions are disabled when you generate your API key, you can have some extra peace of mind that Crypto Lend does not even have the ability to withdraw your money from your exchange account. You can always login to the exchange to see your loans, including the ones made by the Crypto Lend bot.

After copying over your API key and secret, go to the Crypto Lend "Strategy" page to Activate lending on the exchange. Every few minutes the Crypto Bot checks your account(s) through the APIs, and if there are funds in your Lending account on the exchange it'll automatically choose the best rates according to your strategy. I use the default strategy, sometimes the Crypto Bot takes an offered loan and other times it offers my funds as a new loan.

Also note that the "Loans" page shows averages for the day in GMT.

Thanks for the response! Not sure if you're part of the CL team, but if so, curious as to where the monetization comes into play for CL itself. It's not a free service to run, so it has to be financed from somewhere/something.

Hi ranlo, the service is completely free, because we do so for the fun of it. Since a few weeks ago we are having a lot of new members, so it's possible that we may ask a small fee in the future, to contribute to the running cost. But we will keep it small.

[gdupont]

We have done a complete redesign of the UI into a 'dashboard' type. More improvements incoming. Also members are now entrusting us with USD 6.5m equivalent, and counting!

[ranlo]

We have done a complete redesign of the UI into a 'dashboard' type. More improvements incoming. Also members are now entrusting us with USD 6.5m equivalent, and counting!

I have to say, I love the new design! Saw it yesterday when I went to check up on stuff, . Makes a HUGE difference when it comes to usability.

[gdupont]

Glad to hear that, and feel free to send us any suggestion or question.

[ranlo]

Glad to hear that, and feel free to send us any suggestion or question.

Off the top of my head, maybe add a way to hold back x funds. For example, let's say I have 10 LTC in my account. I want to ensure I always have 5 liquid for whatever reason. I can set up a "strategy" that will ensure it will never invest more than balance-5, such that it will start by doing 5, as that grows, it'll do 5.1, 5.2, etc. If I throw in 100 more, it'd do 105.x, still leaving that first 5 behind.

I'm thinking about this in terms of liquidity -- it's nice to be able to lend, but would also be nice to have a little you can hold back. And to make it even more usable, allow you to hold back x% of the balance or x% of earnings, such that:

I deposit 100 LTC. I want to keep 50% of earnings liquid. So after a week, that 100 has earned 3 more. It's now lending 101.5, keeping 1.5 behind to liquidate/trade/whatever. For even MORE utility, have it swap those funds from the main wallet to the exchange wallet (or wallet of choice -- on each site) automatically so you can even keep the balances separate.

I can think of many uses for all of these scenarios, .

[gdupont]

hi ranlo,

Thanks a lot for your proposal. Actually the feature you want is already available

In the Strategy page, if you open the Expert mode you will find a setting called : ‘Keep amount’. This setting will block lending under a certain threshold of your balance.

Holding back a % of your balance could be an interesting improvement (thanks!) even if we think that it’s very important to keep strategies as simple as possible for a better usability and user experience for the moment.

Regarding swapping funds between wallets, it would require to add specific rights in the exchange’s API. For the moment we are dedicated to creating margin lending offers on your behalf. We are very cautious with any other API rights.

[ranlo]

hi ranlo,

Thanks a lot for your proposal. Actually the feature you want is already available

In the Strategy page, if you open the Expert mode you will find a setting called : ‘Keep amount’. This setting will block lending under a certain threshold of your balance.

Holding back a % of your balance could be an interesting improvement (thanks!) even if we think that it’s very important to keep strategies as simple as possible for a better usability and user experience for the moment.

Regarding swapping funds between wallets, it would require to add specific rights in the exchange’s API. For the moment we are dedicated to creating margin lending offers on your behalf. We are very cautious with any other API rights.

Actually wasn't aware that was already implemented (the first one). That's awesome and shows we're on the same page!

The %age could just be an addon there, such as "Keep amount: ____ BTC OR ____ %"

On a somewhat unrelated note, are your default settings seen as being a pretty solid setup? I noticed that it's set to only lend at 0.2+ BTC and such, for example, as opposed to 0.05 (I think this would be about the minimum right now).

[gdupont]

On a somewhat unrelated note, are your default settings seen as being a pretty solid setup? I noticed that it's set to only lend at 0.2+ BTC and such, for example, as opposed to 0.05 (I think this would be about the minimum right now).

We are not updating the default settings. We have designed them from our experience since 2014, and they will guaranty you a confortable return. But we think that you can increase your return by updating the settings often. That's why we try to develop as much strategies as possible. The margin lending world is always moving.

We would also like to create a way to share your strategies with others, like some kind of video game 'Hall of fame'. But we have a lot of work to realize before getting there

[gdupont]

Today we are introducing the Premium membership, to help us cover the running costs and beer supply: https://cryptolend.net/premium.html

[ranlo]

Today we are introducing the Premium membership, to help us cover the running costs and beer supply: https://cryptolend.net/premium.html

Good addition, and I find it to be fair. Only kicks in after you've profited $250, and you're just asking a little over $1/mo for it. That's more than fair.

Keep doing what you're doing!