Thoughts on Crypto Lending

[worldtraveller321]

I just noticed a few sites that offer services of Crypto lending
eg
Bitconex

etc
thoughts on these services? anyone use? sketchy? scams? thanks

[olubams]

I just noticed a few sites that offer services of Crypto lending
eg
Bitconex

etc
thoughts on these services? anyone use? sketchy? scams? thanks

You know what, someone telling you what could be wrong with crypto lending would mean someone else making the decision on your behalf rather you could just use Google to know more on the various crypto lending platforms that have been in existence in the past, and how far they have fared from there you can then make a decision whether to invest in something like that, or even decide to start such a platform. Wish you all the best in that.

[hahahafr]

I just noticed a few sites that offer services of Crypto lending eg
Bitconex

Then you have a bad concept about what "crypto lending" means.

bitconnect, it is not bitconex. And you are not asking for a loan, you are just investing money in there to have a return that the page is going to offer to you in X period of time.

It is a ponzi scheme, they were offering aprox 1% a day, and that is impossible in every aspect.

The other one who is similiar to bitconnect is Regalcoin.

[worldtraveller321]

thanks for your clarification

now i understand what they were saying, looks like i wont consider, as i already have good sites and services to trade from

[Imfinnabeon]

A proper lending system is one that is called SALT (Secure Automated Lending Technology) and they are legitimate. Don't focus your time and energy on ponzi-schemes they are pure evil and bad for the industry as whole.

[brontosaurus]

I just noticed a few sites that offer services of Crypto lending
eg
Bitconex

etc
thoughts on these services? anyone use? sketchy? scams? thanks

Even top exchanges like poloniex also support crypto lending. However these only limit the borrowers to trade over the exchange not outside it. But now we are coming up with some specifically target lending systems like SALT and even TRST. But legitimacy is still not guaranteed. Crypto is not like fiat once gone from your wallet there is no way you can find them back.

[abdulaziz07]

watchout of SALT and other lending coins
it will be gonna good compare to traditional lending

[cynical]

a lot of the lending sites are hyip sites.
they offer very nice return for lending them your tokens.
You will also be able to avail of their compound interest which makes the return look even more attractive.
But and there is always a 'but' once you hand over your tokens you loose control and most likely loose your tokens.

[xusxuquade]

I just noticed a few sites that offer services of Crypto lending
eg
Bitconex

etc
thoughts on these services? anyone use? sketchy? scams? thanks

you mean is coin use lending system, corection not bitconex, but bitcoinect
i think coin use lending system onluy use ponzi scheme, if can't get member coin can cheap price or scam
but if get much member, alwyas get new member i think coin lending system and old member can big succes

[Dart18]

If we tell you "Yes they are trusted" will you believe us and when it ends up as a scam will you throw a stone into us?

When it comes to lending you will need to decide for your own.
I think the trust rating here in bitcointalk will come in handy now. There are a lot of trusted lenders here and you will just need to give proof that you are a real payer afterwards.
Websites only sucks, better talk to a real person than computers when it comes to borrowing money.

[gentlemand]

Any type of lending other than to traders on exchanges for margin simply does not work.

It's a shit deal for both parties and that's before you're scammed by either the organiser of the loan or the recipient. Crypto and lending are an overwhelmingly toxic combo.

[maeusi]

Any type of lending other than to traders on exchanges for margin simply does not work.

It's a shit deal for both parties and that's before you're scammed by either the organiser of the loan or the recipient. Crypto and lending are an overwhelmingly toxic combo.

Yes, the only legit lending opportunities, I know, are on Poloniex and Bitfinex and they are quite profitable.

I just noticed a few sites that offer services of Crypto lending
eg
Bitconex

etc
thoughts on these services? anyone use? sketchy? scams? thanks

Take care of scam sites, where high interests are promised but stealed money from lenders.