Hi,
I'm new to the board, I have been looking at the threads for the past few days (full disclosure, I am looking for a bitcoin loan, but have not placed a formal request... see below).
One thing I've noticed is that there are hardly any lenders willing to give a loan to a new person without collateral. I get it, and the reasons I have seen given are valid. But at the same time, how can a newbie who has no collateral establish some kind of credibility for lenders? Aside from paying a higher interest rate, what can a newbie do to at least get a second glance or further consideration? ID? Paystubs? A formal contract? Nothing at all?
I realize that this may be a completely idiotic question, but I'm just curious. Thanks for your time.
You know loans are not for people in need. These are for people that don't actually need it and can pay for it. Same with banks, if you are a homeless person do you think the banks will lend you? Of course not. People here on the forum that are actually given loans have collateral because they use the money borrowed for their own businesses or trading so they can produce more money out of the loaned amount.
This is why I don't get people that ask for loan without any collateral (like you). There are a lot of completely new to the forum and the first thing they ever do here is to ask for a loan. Those are the worst. They think this is a charity of sorts and they demand that their request be granted.
