Lending Platforms

Can somebody suggest a few different ones for me and explain how they work?

Thanks!

You can borrow or lend coins here in the forum, just go to this board: Lending
Just read all stickies there and check out the lenders ANN thread, that should help you get the gist of how things work.

Unfortunately, I'm not familiar with the other lending platforms Cry

If you're going to lend or borrow here on this forum, remember, NO COLLATERAL, NO LOAN.
I found a website telling about other lending platforms, have a look: https://www.cryptolendingprograms.com/

Personally, I don't use such platforms (I suggest you to do the same) but I'll list some:

1. BTCTCPOP
2. Bitbond

In regards to its process, there's an explanation on each website.

Take note: Both have mixed reviews (take caution).

Hi there!

So, there are various lending platforms as well as there have been plenty. Personally I have not used a single one and have only heard negative experiences from people. Though, I'm sure there are some legit ones out there! I know NEXO for example has already got their platform live and you can register at nexo.io.

Though I would be careful and do a lot of research before using them & never invest more than you can lose.

So, each platform has their own terms and agreements and rules. Besides that, usually every platform also has different periods, meaning you can either choose the amount of days/months you want to enable your funds to be loaned out for, or there is a preset amount of days/months.

Can somebody explain further what is lending and how it works?

Quote from: jonsnow23 on May 11, 2018, 07:35:04 AM

Can somebody explain further what is lending and how it works?

lend: allow (a person or organization) the use of (a sum of money) under an agreement to pay it back later, typically with interest.
source: Dictionary.com

Quote from: ViaLosFeliz on May 10, 2018, 08:34:57 PM

Can somebody suggest a few different ones for me and explain how they work?

Thanks!

The most popular was bitonnect.. It rose to an ATH and most projects in Q3 Q4 2017 where lending icos making people rich and others poorer. I wouldn't advice it tho, because of the get rich quick syndrome".. Bitbond and Lendconnect is still doing lending. Good luck with that.

unfortunately there is not one I would recommend these days. it's best to stay away from existing one in my opinion

Quote from: ViaLosFeliz on May 10, 2018, 08:34:57 PM

Can somebody suggest a few different ones for me and explain how they work?

Thanks!

Using Bitcoin? There are none that I'm aware of. However, you can cruise the Services board on this forum and people there will offer lending services or you can even start an announcement thread asking for somone to loan you the money, then work out the particulars of the interest rate and any collateral needed.

If you're willing to leave the idea of using Bitcoin, check out Prosper or LendingClub, both are peer to peer lending sites.

Quote from: Trollinator on May 11, 2018, 10:57:34 PM

Nexo seems to be the most polished so far!!

Nexo seems interesting, this is the first I'm hearing about it and they claim to be the first bitcoin or crypto lending platform. Here's there site: https://nexo.io/

They do require collateral, cryptocurrency and based on the rate you want to pay them back they'll loan you some amount of money over the amount of collateral.

If you have 1BTC to put up as collateral they'll loan you 1.2BTC or 1.5BTC, those aren't exact quotes but it's in the realm of the options.

There are blockchain-backed loans providers such as SALT. Basically you use your crypto funds as collateral and you receive a loan in fiat. At the end of your loan's term, if everything goes as planned and you don't forfeit or try to run away with the money, you get your crypto assets back. Ultimately, I'm not sure if this is what you meant by 'lending platforms' but you can learn more about SALT through this article: https://medium.com/cryptocurrency-citizen/blockchain-review-salt-lending-win-win-loans-f96f64a37d91

Hope this helps