Poloniex Lending Bots

[Captain Corporate]

 Hi,

 Has anyone used a bot for poloniex lending section?

 Can you give a ballpark estimation of how much it makes per month?

[TryNinja]

Last month I setup this bot https://github.com/BitBotFactory/poloniexlendingbot in my own server.

You won't get a lot obviously. But if you want to HODL your coins for some time and can risk having some Bitcoins on Poloniex, you can make some little cash.

If I remember correctly I was getting something like 7% APR.

[Mitel]

Hello,

I also just started. The lending rates vary, I have locked some good rates like 0,235% for 30 days. Right now it's more like 0,09%.

Annually that's still an incredible rate.

But your coins are on an exchange, not the safest thing.

It's a tradeoff.

[pawel7777]

Last month I setup this bot https://github.com/BitBotFactory/poloniexlendingbot in my own server.

You won't get a lot obviously. But if you want to HODL your coins for some time and can risk having some Bitcoins on Poloniex, you can make some little cash.

If I remember correctly I was getting something like 7% APR.

This can't be right. 7% APR (annualised rate) is way too low. At the current rates you should be getting something in the range of 30% APR (27.8% net of fees), so perhaps you meant 7%/month?


Anyone knows how the bot chooses rates? Does it just match the lowest loan offers, or is it more advanced, (i.e. measuring depth, or just ignoring dust-amount loan offers)?

[TryNinja]

This can't be right. 7% APR (annualised rate) is way too low. At the current rates you should be getting something in the range of 30% APR (27.8% net of fees), so perhaps you meant 7%/month?

Ops.. You are totally right. I actually confunded this info with something else in my notes. Sorry about that!
I was actually getting something close to 23-26% per year because of the floating rates.

Still a pretty good rate if you store your coins in an exchange anyway. And better than doing faucets all day for some cents.

Anyone knows how the bot chooses rates? Does it just match the lowest loan offers, or is it more advanced, (i.e. measuring depth, or just ignoring dust-amount loan offers)?

I don't know exactly how the bot operates to get the best rates, but you can always set up a minimum and maximum rate. I just used the default config because I'm too lazy.