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Author Topic: BTC loans, not quite there yet. Quick opinion.  (Read 97 times)
engele
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January 15, 2018, 11:33:32 PM
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So, after I have been to thousands of places on the internet in search for a BTC loan I have finally realized that it is a big thing but it seems we are just not quite there yet.
A BTC loan is a great way if you really need your loan in cryptocurrencies, fast or if you have no other place to go for a loan. But because of the fact that that there is the high possibility of not getting it back and due to the high amount of scammers everywhere, that have to make the life of every living person that needs genuine help harder, you have to either have a reputation of 100+ years and high positive feedback on some forums or a collateral preferably in cryptocurrencies that is higher than the actual loan and, lets be honest, I would probably sell at that moment so I don't have to take on a loan in the first place.
So my conclusion on BTC loans at the moment, a bitcoin loan is great for everyone that doesn't want to sell their coins but I guess for people that just need a loan probably not the right thing because if you don't have a collateral in form of cryptos it is almost impossible getting one.  BTC
Just a quick conclusion on my today's search for a BTC loan.   Smiley
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inventoryclub
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January 16, 2018, 12:22:10 AM
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Have you checked out Sweetbridge? I'm not sure if they do BTC loans but I know the project is based around lending using crypto
engele
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January 16, 2018, 12:58:54 AM
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Well, that's the point. It seems, first of all, it is not ready yet and there also works the principle that you deposit coins and then while you have the coins as collateral you can borrow money.
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January 16, 2018, 03:34:50 AM
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So my conclusion on BTC loans at the moment, a bitcoin loan is great for everyone that doesn't want to sell their coins but I guess for people that just need a loan probably not the right thing because if you don't have a collateral in form of cryptos it is almost impossible getting one.  BTC
Just a quick conclusion on my today's search for a BTC loan.   Smiley

Hi engele, in my observation, you actually CAN get a loan here WITHOUT any crypto/altcoin collateral, but you will need to build trust among the bitcointalk community. You will need at least be a Hero Member, with several loan transactions done and repaid in time (surely you need to provide crypto collateral at first).  Once you have built that trust, people might give you the next loan without any crypto collateral.

The idea here is the lender want to make money, the borrower need to make sure he/she can use the loan and repay the lender on time.  Wink
engele
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January 16, 2018, 04:31:39 PM
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Well that is exactly what I said in my post above Wink you need like a very big trust level on forums or a big collateral Smiley
investerS
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January 18, 2018, 11:59:59 AM
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So, after I have been to thousands of places on the internet in search for a BTC loan I have finally realized that it is a big thing but it seems we are just not quite there yet.
A BTC loan is a great way if you really need your loan in cryptocurrencies, fast or if you have no other place to go for a loan. But because of the fact that that there is the high possibility of not getting it back and due to the high amount of scammers everywhere, that have to make the life of every living person that needs genuine help harder, you have to either have a reputation of 100+ years and high positive feedback on some forums or a collateral preferably in cryptocurrencies that is higher than the actual loan and, lets be honest, I would probably sell at that moment so I don't have to take on a loan in the first place.
So my conclusion on BTC loans at the moment, a bitcoin loan is great for everyone that doesn't want to sell their coins but I guess for people that just need a loan probably not the right thing because if you don't have a collateral in form of cryptos it is almost impossible getting one.  BTC
Just a quick conclusion on my today's search for a BTC loan.   Smiley
You seems to have the same experience i had here. The very first time i visited the loan section here was the day i requested for loan and unfortunately for me i only asked whether anyone here can collect tbc as collateral and the next thing i got was being labelled a scammer and it was later i learnt my collateral was worthless(i never knew that before) and before i knew it i have got negative trust and while reading further i came to learn i need altcoin worth 120% my collateral before anyone can loan me, i then thought why should i borrow if i have 120% worth my need. Now, with neg on my account lenders does not want to do business despite the fact that those who put the neg there only assumed i could be a scammer. With my own experience i came to conclude that some are honest and genuine people but unable to get loan here and that not all people with neg trust are bad people.
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