[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading

[Timetwister]

Most of the time you will be waiting for your offer to be taken

Only if you set it to 2 days or so, FRR 30 days works relatively fine for me for years by now.

As to me, 30 day offers are not very profitable most of the time

If the rates go way higher, you will be losing interest since you can't demand the return of the funds before the offer expires (i.e. after 30 days). On the other hand, if the rates go substantially lower, the borrower can return the borrowed funds immediately and take another offer at a lower interest. That likely explains why 30 day offers are not very popular overall, and thus you don't have to wait till your offer is taken

Exactly, that's the problem of 30 day offers. Interest rates are too volatile, so you end up getting less sometimes. I wonder how big is the difference long term between offering 2 day ones undercutting everyone else and just leaving FRR 30 days loans on autorenew.

[Timetwister]

Most of the time you will be waiting for your offer to be taken

Only if you set it to 2 days or so, FRR 30 days works relatively fine for me for years by now.

What has been your yearly return since you started? I remember reading you in this thread a long time ago, when I was also lending. I stopped when there was an issue and Bitfinex got a big chunk of our money and gave us some kind of tokens which I sold.

[Quickseller]

I'm thinking about coming back to Bitfinex to lend USD. Is it realistic to lend money at FRR, or does it just stay being offered, with no takers most of the time? I'd like it to be automatic, not having to login often to add my offer.

Most of the time you will be waiting for your offer to be taken

And thus your money will be sitting idly. But you can tweak the settings and lend funds at some other interest based on the FRR rate (for example, FRR Delta, which is FRR rate minus some specified number). I didn't check this feature myself, so I don't know if it will allow you to get what you want but it is certainly worth looking into. Personally, I set the rate manually a little below the FRR rate (based on the amount being offered), and it works for me in the majority of cases

How often do you have to offer money manually?

There are a couple of "bots" out there that will be able to lend out your USD (or any other currency you have in your account) via an API. You can set a certain criteria so that it will place offers to lend at the current market rate.


You can also use the auto-renew feature on bitfinex that will automatically create offers to lend for a certain number of days of your choosing at the rate of your choosing. You would probably want to login to your bitfinex account at least every couple of days to make sure the rate you are auto-renewing at is not too high (resulting in your lending offers just sitting in the lending book), or too low (resulting in you missing out on valuable interest earnings).

[TheQuin]

There are a couple of "bots" out there that will be able to lend out your USD (or any other currency you have in your account) via an API. You can set a certain criteria so that it will place offers to lend at the current market rate.


You can also use the auto-renew feature on bitfinex that will automatically create offers to lend for a certain number of days of your choosing at the rate of your choosing. You would probably want to login to your bitfinex account at least every couple of days to make sure the rate you are auto-renewing at is not too high (resulting in your lending offers just sitting in the lending book), or too low (resulting in you missing out on valuable interest earnings).

I found this bot https://bitcointalk.org/index.php?topic=865250.0 but I don't have a suitable web server to run it on. Is there a more usable one that runs on a standard Windows desktop?

I'm relatively new to this so coming up against the same problems stated in the above posts. The FRR delta looked like it would be a good way to go but all it does is create an offer at the offset and then it becomes a static rate and you can't use FRR delta on the auto renew. Where as if you can get lent out at FRR it's a dynamic rate both while it's lent out and for auto renew. So I'm still looking for the best way to do this but so far FRR for 30 days has been most rewarding.

[Quickseller]

There are a couple of "bots" out there that will be able to lend out your USD (or any other currency you have in your account) via an API. You can set a certain criteria so that it will place offers to lend at the current market rate.


You can also use the auto-renew feature on bitfinex that will automatically create offers to lend for a certain number of days of your choosing at the rate of your choosing. You would probably want to login to your bitfinex account at least every couple of days to make sure the rate you are auto-renewing at is not too high (resulting in your lending offers just sitting in the lending book), or too low (resulting in you missing out on valuable interest earnings).

I found this bot https://bitcointalk.org/index.php?topic=865250.0 but I don't have a suitable web server to run it on. Is there a more usable one that runs on a standard Windows desktop?

I'm relatively new to this so coming up against the same problems stated in the above posts. The FRR delta looked like it would be a good way to go but all it does is create an offer at the offset and then it becomes a static rate and you can't use FRR delta on the auto renew. Where as if you can get lent out at FRR it's a dynamic rate both while it's lent out and for auto renew. So I'm still looking for the best way to do this but so far FRR for 30 days has been most rewarding.

You can use google to search for a bot, or you can post on r/bitcoinmarkets, and I am fairly certain a few people will post suggestions for you. I know there are a couple websites that will actually run the bot from their website/server for you, however they require a subscription or use their free version which reacts to the market slowly.

[Sukrim]

Most of the time you will be waiting for your offer to be taken

Only if you set it to 2 days or so, FRR 30 days works relatively fine for me for years by now.

What has been your yearly return since you started? I remember reading you in this thread a long time ago, when I was also lending. I stopped when there was an issue and Bitfinex got a big chunk of our money and gave us some kind of tokens which I sold.

This is harder to determine than you might think, since I have also some income through the referrals from the link in my signature. They also tend to be quite spammy (10% of BFX's fees which alre 0.1% of an order or less is not a lot for each transaction). As the ref income is also lent out automatically, it is a bit hard to determine what the "pure" return would have been, since I earn interest on additional money that others probably don't have.

Last but not least, it is a bit hard to download the reports automatically (I am a customer for many years on BFX by now with a 3 digit userID...) and downloading everything at once is not really feasible either (the resulting CSV would take forever to generate and would be quite large). In general I am happy with my returns though, they are a bit on the low end against a bot that undercuts other bots maybe - but it requires less maintenance and even though "my whale" that I apparently referred seems less active lately, others have increased their activity instead. Any money I lose because I am not running and maintaining a bot is probably offset by these returns.

FRR 30d is especially nice in a generally stable/falling BTCUSD market, so currently it is not as great in catching all these small spikes when funds are running dry while BTC jumps a few 100 USD in price and everyone wants to go margin long.

[Samarkand]

...
This is harder to determine than you might think, since I have also some income through the referrals from the link in my signature. They also tend to be quite spammy (10% of BFX's fees which alre 0.1% of an order or less is not a lot for each transaction). As the ref income is also lent out automatically,...

Do you mind sharing how many referrals you have accumulated over the years with your signature link?
I´d be happy with a rough estimate and obviously don´t need the exact number.

Regarding the lending discussion I´m not sure if using a bot is the best way of managing your loans. Some of
these bots take a commission, which obviously affects your returns negatively. Besides, you can easily increase your
profits by altering your lending strategy based on the current market situation and loan demand (e.g. catch the interest
rate spikes), while you would be constrained by the fixed code the bot provider developed, if you don´t develop
the lending bot yourself.

[Sukrim]

Do you mind sharing how many referrals you have accumulated over the years with your signature link?
I´d be happy with a rough estimate and obviously don´t need the exact number.

Close to 400 accounts, but their actual income is distributed along a https://en.wikipedia.org/wiki/Power_law with quite a long tail of people that either just created an account "for fun" and never actually generated any fees at all or some that maybe bought something once generating a tenth of a US cent or less on my end... on the other end of the spectrum are people that generate a few pages of report entries per hour.

I once thought about offering incentives as well ("sign up with my code and get 0.x BTC as soon as you start trading!"), but in the end returns are just is so random and I also don't really want to incentivize signing up with BFX more than necessary. Also I kinda doubt that people that want to get a little money for signing up are very loyal long term traders.

[Serpens66]

I found this bot https://bitcointalk.org/index.php?topic=865250.0 but I don't have a suitable web server to run it on. Is there a more usable one that runs on a standard Windows desktop?

I'm relatively new to this so coming up against the same problems stated in the above posts. The FRR delta looked like it would be a good way to go but all it does is create an offer at the offset and then it becomes a static rate and you can't use FRR delta on the auto renew. Where as if you can get lent out at FRR it's a dynamic rate both while it's lent out and for auto renew. So I'm still looking for the best way to do this but so far FRR for 30 days has been most rewarding.

there are trusted websites like "coinlend.org" and "cryptolend.net". First one is free and very good for beginners. Here is the FAQ of coinlend, I use them myself
https://www.coinlend.org/?locale=en#!FAQ

[TheQuin]

I found this bot https://bitcointalk.org/index.php?topic=865250.0 but I don't have a suitable web server to run it on. Is there a more usable one that runs on a standard Windows desktop?

I'm relatively new to this so coming up against the same problems stated in the above posts. The FRR delta looked like it would be a good way to go but all it does is create an offer at the offset and then it becomes a static rate and you can't use FRR delta on the auto renew. Where as if you can get lent out at FRR it's a dynamic rate both while it's lent out and for auto renew. So I'm still looking for the best way to do this but so far FRR for 30 days has been most rewarding.

there are trusted websites like "coinlend.org" and "cryptolend.net". First one is free and very good for beginners. Here is the FAQ of coinlend, I use them myself
https://www.coinlend.org/?locale=en#!FAQ

Thanks for that. Obviously, they're not hard to find with google but being able to trust them is a whole different issue. I'll give coinlend a go when I get my funds back from the 30 loan it's out on at the moment.

[Rogersterling]

I'm new to Bitfinex - I'm non-US citzen - is it possible to just send btc to the exchange,
sell it for USD and lend this amount of USD out for margin traders?
The way back would obviously be, buying bitcoin with usd and transfering btc back to a private wallet.

Is that possible? Or do you always have to wire usd to your funding wallet?
Thanks.

[Timetwister]

I'm new to Bitfinex - I'm non-US citzen - is it possible to just send btc to the exchange,
sell it for USD and lend this amount of USD out for margin traders?
The way back would obviously be, buying bitcoin with usd and transfering btc back to a private wallet.

Is that possible? Or do you always have to wire usd to your funding wallet?
Thanks.

It's possible, that's what I plan to do.

[TheQuin]

I'm new to Bitfinex - I'm non-US citzen - is it possible to just send btc to the exchange,
sell it for USD and lend this amount of USD out for margin traders?
The way back would obviously be, buying bitcoin with usd and transfering btc back to a private wallet.

Is that possible? Or do you always have to wire usd to your funding wallet?
Thanks.

It's possible, that's what I plan to do.

It's actually much harder if you are a US resident as Bitfinex are no longer verifying accounts for new US based customers. You can do what you suggested there without any need to have your account verified so they don't really care where you are.

[ipsec]

Bitfinex working as hell 
Before i fronzen my acc 
http://pl.tinypic.com/r/15hjrky/9

[deisik]

Bitfinex working as hell 
Before i fronzen my acc 
http://pl.tinypic.com/r/15hjrky/9

I can confirm that

Even API is lagging severely. I send a command, and it just times out within a minute or so. Then I send it again, and it passes through without a hitch (until the next one). It is obvious that their servers can't cope with the load when some huge market move is under way. But it's still somewhat bearable and a way better than at Poloniex where everything just freezes in similar circumstances, and you can't do anything at all

[ipsec]

I can confirm that

Even API is lagging severely. I send a command, and it just times out within a minute or so. Then I send it again, and it passes through without a hitch (until the next one). It is obvious that their servers can't cope with the load when some huge market move is under way. But it's still somewhat bearable and a way better than at Poloniex where everything just freezes in similar circumstances, and you can't do anything at all

Yeah but bitfinex spam my email acc... i banned this domain

[KRAUSS]

Hi! How can I generate my OWN referal link with my OWN referal code? Thanks in advance!

[Sukrim]

Hi! How can I generate my OWN referal link with my OWN referal code? Thanks in advance!

You could just use mine.

[Kuingsudaqila]

all exchanger china is problem
and gatecoin from hongkong problem too, bitfinex is still run
i hope bitfinex still run , although bitfinex from hongkong and china land too

[Samarkand]

Has anybody secured their Bitfinex account using a hardware device based on the U2F standard (e.g. Yubikey)?
I´m thinking about doing just that and was hoping that someone who uses a device like this
could share his experiences.

Additionally, there are great lending rates available due to the current bear market
(especially for Litecoin!).