poloniex lending

[PersonG]

Hello

How can lend my funds to LOAN demands directly in poloniex ?

[brobbel]

Hello

How can lend my funds to LOAN demands directly in poloniex ?

1) Log in.
2) If you don't have funds in Poloniex: https://poloniex.com/balances and choose deposit for the deposit address
3) Go to https://poloniex.com/transfers and transfer the funds from exchange to lending
4) Go to https://poloniex.com/lending
5) Fill the details and press on enter

You can also choose a bot to automatically lend for a good rate; I use https://www.poloniexlendingbot.com

[shinchan888]

Hi, Mind to share your lending experience with Lending Bot on Poloniex?

1. Is the lending repayment secured? ever face any default payment like https://bitcointalk.org/index.php?topic=1625932.120 case?
2. Does the 10% fees of the lending bot worth it? why not doing it manually?

[brobbel]

Hi, Mind to share your lending experience with Lending Bot on Poloniex?

1. Is the lending repayment secured? ever face any default payment like https://bitcointalk.org/index.php?topic=1625932.120 case?
2. Does the 10% fees of the lending bot worth it? why not doing it manually?

1. The borrower has to have enought collateral. In case he doesn't well with his trades or price is dropping fast, his assets are liquidated automatically by Poloniex. The only unsecure things about this are: -Poloniex itself goes bankrupt / -prices are dropping so fast it wasn't possible to secure all funds (=never happend until now)
2.
- You lend for a specific period, but borrowers are allowed to repay earlier. So if you want the best results you have to look 24/7 to your funds.
- Lending rates are even more volatile then bitcoin price itself, so if you choose "auto renew" you will either get low rates (when rates are higher) or have a long wait (because your rate is too high); besides that, your earning are not renewed
- There are more options available at this time:
--- polobot.net = free, but only does his work every 4 hours (or you have to pay)
--- poloniexlendingbot.com = 10% fee, but does his job every 10 minutes (or so, I don't know how long exactly)
--- poloniexbitcoinlendingbot.com = 5% fee, only on Windows computer, much more sophisticated, every minute (!)

At this time I use poloniexbitcoinlendingbot.com for bitcoin and polobot.net for the other coins. Unfortunately poloniexlendingbot.com can't see if loans are from other sources -although it says otherwise, he really can't do that-, so when I continued to use that bot for the other coins, I had to pay even for work this bot didn't do...

[sylance]

I've been lending on Bitfinex for many months and earning roughly .05% a day in interest.  As others have said, it's really safe and easy to setup.  Since Bitfinex has removed support for US customers I moved some funds to Poloniex.  Unfortunately the demand for loans on Poloniex is much lower; which means interest is lower.  As I type this, Poloniex has a total BTC loan demand of .3 whereas Bitfinex has a demand of 2,241.  So as you can see a much bigger difference.  That said, my coins are typically being lent and earning a small passive income.

Lastly, I'm using this service to manage my loans on both Bitfinex and Poloniex; and it's free for the first $250 of earnings... meaning you have to earn over $250 of interest before you have to pay, and it's only $17 annually.
https://cryptolend.net/account.html

[brobbel]

I've been lending on Bitfinex for many months and earning roughly .05% a day in interest.  As others have said, it's really safe and easy to setup.  Since Bitfinex has removed support for US customers I moved some funds to Poloniex.  Unfortunately the demand for loans on Poloniex is much lower; which means interest is lower.  As I type this, Poloniex has a total BTC loan demand of .3 whereas Bitfinex has a demand of 2,241.  So as you can see a much bigger difference.  That said, my coins are typically being lent and earning a small passive income.

Lastly, I'm using this service to manage my loans on both Bitfinex and Poloniex; and it's free for the first $250 of earnings... meaning you have to earn over $250 of interest before you have to pay, and it's only $17 annually.
https://cryptolend.net/account.html

The loan demands on Poloniex are only the parts which are either too small or too low rate. So to .3 BTC you are mentioning is in fact a no-go.
The real demand is much much higher - I place loan offers only above 25 BTC - so every few minutes there are over 25 BTC on loan offers taken (!) otherwise my offers would never be taken.

But I'm afraid using BitFinex due to both the hack and the following US-blockade of funds.

[TryNinja]

1. Is the lending repayment secured? ever face any default payment like https://bitcointalk.org/index.php?topic=1625932.120 case?
2. Does the 10% fees of the lending bot worth it? why not doing it manually?

1. I don't think there was ever a default case on Poloniex since the borrower always needs to have funds available to cover potential losses.
2. You don't have to use this bot and pay 10% in fees. There are open sourced bots on GitHub[1] that does the same thing but for free. However, in this case you will need to let the software open or host it on a server to keep the bot working.

[1] https://github.com/BitBotFactory/poloniexlendingbot

[shinchan888]

Thanks for the clarifications. And really appreciate all the bot recommendations.

But thr's 1 more question that I'm not clear. If poloniex needs collateral for the loan of the same amount, why would someone need to load if they already have that fund?

[brobbel]

Thanks for the clarifications. And really appreciate all the bot recommendations.

But thr's 1 more question that I'm not clear. If poloniex needs collateral for the loan of the same amount, why would someone need to load if they already have that fund?

Simply: the collateral is in other coins. So if you need bitcoin for trading, while you have a large stock in altcoins, you don't need to buy bitcoins but just borrow them.

[shinchan888]

Thanks again, Brobbel.

Now I feels much secured in the lending scheme.