Bitcoin Forum
August 18, 2018, 04:38:02 PM *
News: Latest stable version of Bitcoin Core: 0.16.2  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Poloniex Lending Similar Site?  (Read 390 times)
puremage111
Hero Member
*****
Offline Offline

Activity: 882
Merit: 507


RealtyReturns


View Profile
June 08, 2017, 06:47:03 AM
 #1

Hello, i've use poloniex for months but i never actually use the lending section

Other than risk of Poloniex goes down/hacked, is there any other risk that implied if i lent to the user?

Next, other then polo, is there any othere simlar lending site?


▄████████████████████████████████████████████████████████████████████████████
███████████████████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████████
███████                ██████                 ████                 ██████████████
███████                  █████                 ████                 █████████████████████
███████     ████████      █████    ████████      ███████    ██████████████
███████     ████████      █████    ████████      ███████    █████████████
███████     ████████     █████     ████████     ████████    ██████████
███████                 ███████                 ███████    ██████████████████
███████                 ███████                 ███████    ████████████████████
███████     ████████     █████     ████████     ████████    █████████████
███████     ████████      █████     ████████      ███████    █████████████
███████     ████████      █████     ████████      ███████    █████████████
███████     ██████████    ████     ████████    ████████    █████████████
███████     ██████████    ████     ████████    ████████    ██████████████
█████████████████████████████████████████████████████████████████
█████████████████████████████████████████████████████████████████████
▀████████████████████████████████████████████████████████████████████









● WhitePaper
● Bounty
● Twitter
● Telegram



Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1534610282
Hero Member
*
Offline Offline

Posts: 1534610282

View Profile Personal Message (Offline)

Ignore
1534610282
Reply with quote  #2

1534610282
Report to moderator
1534610282
Hero Member
*
Offline Offline

Posts: 1534610282

View Profile Personal Message (Offline)

Ignore
1534610282
Reply with quote  #2

1534610282
Report to moderator
2bfree
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250


Social media management


View Profile WWW
June 08, 2017, 08:00:32 AM
 #2

Hello, i've use poloniex for months but i never actually use the lending section

Other than risk of Poloniex goes down/hacked, is there any other risk that implied if i lent to the user?

Next, other then polo, is there any othere simlar lending site?

Good question, one thing I"m wondering is how is your loan secured say you lend 1BTC and the person who borrowed the 1BTC they just drop of the Earth, is your 1BTC secured? How does that work?

Just wondering.

Thanks.

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
>>WE MANAGE SOCIAL MEDIA FOR CRYPTO. IF YOU DON'T HAVE TIME AND HAVE CRYPTO, PM US!<<
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
brobbel
Sr. Member
****
Offline Offline

Activity: 546
Merit: 327


View Profile
June 08, 2017, 08:28:42 AM
 #3

Hello, i've use poloniex for months but i never actually use the lending section

Other than risk of Poloniex goes down/hacked, is there any other risk that implied if i lent to the user?

Next, other then polo, is there any othere simlar lending site?

Good question, one thing I"m wondering is how is your loan secured say you lend 1BTC and the person who borrowed the 1BTC they just drop of the Earth, is your 1BTC secured? How does that work?

Just wondering.

Thanks.

Hi,

When you are a margin trader on Poloniex you need enough funds available for lending. So when you borrow 1 BTC you need enough altcoins to cover not only the 1 BTC you want to lend, but some extra.

When your trades are going badly, or yours coins are dropping fast in value, Poloniex starts a forced liquidation of the funds of the margin trader, to be sure the lender will receive the money back. This normally will cover the lend amount. Only when there is an extremely fast dropping coin used as collateral there is a small chance you will loose part of your lend coins, but AFAIK this never happened.

So you already mentioned the biggest risk: insolvency of Poloniex.
JellyO
Jr. Member
*
Offline Offline

Activity: 47
Merit: 0


View Profile
June 09, 2017, 01:01:01 AM
 #4

Hello, i've use poloniex for months but i never actually use the lending section

Other than risk of Poloniex goes down/hacked, is there any other risk that implied if i lent to the user?

Next, other then polo, is there any othere simlar lending site?
BFX has a lending option but the rates can vary which means you might not get a "fill" for a while.

As prev. mentioned, if polo is down your money is stuck.
puremage111
Hero Member
*****
Offline Offline

Activity: 882
Merit: 507


RealtyReturns


View Profile
June 09, 2017, 11:42:16 AM
 #5

Hello, i've use poloniex for months but i never actually use the lending section

Other than risk of Poloniex goes down/hacked, is there any other risk that implied if i lent to the user?

Next, other then polo, is there any othere simlar lending site?
BFX has a lending option but the rates can vary which means you might not get a "fill" for a while.

As prev. mentioned, if polo is down your money is stuck.

Therefore thats the only downside of lending right?

No other risk implied in this case?


▄████████████████████████████████████████████████████████████████████████████
███████████████████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████████
███████                ██████                 ████                 ██████████████
███████                  █████                 ████                 █████████████████████
███████     ████████      █████    ████████      ███████    ██████████████
███████     ████████      █████    ████████      ███████    █████████████
███████     ████████     █████     ████████     ████████    ██████████
███████                 ███████                 ███████    ██████████████████
███████                 ███████                 ███████    ████████████████████
███████     ████████     █████     ████████     ████████    █████████████
███████     ████████      █████     ████████      ███████    █████████████
███████     ████████      █████     ████████      ███████    █████████████
███████     ██████████    ████     ████████    ████████    █████████████
███████     ██████████    ████     ████████    ████████    ██████████████
█████████████████████████████████████████████████████████████████
█████████████████████████████████████████████████████████████████████
▀████████████████████████████████████████████████████████████████████









● WhitePaper
● Bounty
● Twitter
● Telegram



brobbel
Sr. Member
****
Offline Offline

Activity: 546
Merit: 327


View Profile
June 09, 2017, 12:06:43 PM
 #6

Hello, i've use poloniex for months but i never actually use the lending section

Other than risk of Poloniex goes down/hacked, is there any other risk that implied if i lent to the user?

Next, other then polo, is there any othere simlar lending site?
BFX has a lending option but the rates can vary which means you might not get a "fill" for a while.

As prev. mentioned, if polo is down your money is stuck.

Therefore thats the only downside of lending right?

No other risk implied in this case?

You can take a look at https://poloniex.com/support/aboutMarginTrading/
But I guess the main risks are mentioned: Poloniex defaulting and/or collateral of borrower drops very fast in value.
bkava
Jr. Member
*
Offline Offline

Activity: 33
Merit: 0


View Profile
June 09, 2017, 12:16:10 PM
 #7

Seriously take a look at the other threads.  1.5 month verification delays,  up to 2 weeks deposit/withdrawal delays.  Classic Cryptsy/Gox symptoms.

If you expose yourself to Poloniex default right now, you are asking to be screwed. 

Don't.  Do. It.
brobbel
Sr. Member
****
Offline Offline

Activity: 546
Merit: 327


View Profile
June 09, 2017, 12:40:37 PM
 #8

Seriously take a look at the other threads.  1.5 month verification delays,  up to 2 weeks deposit/withdrawal delays.  Classic Cryptsy/Gox symptoms.

If you expose yourself to Poloniex default right now, you are asking to be screwed.  

Don't.  Do. It.

In general there is always a risk in using exchanges.

FYI:
https://poloniex.com/press-releases/2017.05.16-Industry-growth-and-its-effect-on-Poloniex/
https://poloniex.com/press-releases/2017.06.07-Improving-Our-Support-Capacity/
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!