Cryptocurrency lending business.

[Bitcoin-Turkiye]

lending nice but I guess little gain.  I lent money to stock exchanges like Poloniex and bitfinex, but the gain was very, very few. also saw the yobit net there was higher than the gain..  There are companies lending to people and I have no knowledge about them

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[cizatext]

The first time I came across cryptocurrency lending was on nexo where you can use your cryptocurrency as a collateral in this way you can use any of the altcoins as a collateral and get loan from the site, cryptocurrency lending is a new wave in the cryptocurrency world and at that we should keep watching to see how far and positive is will help the community.

[adzino]

lending nice but I guess little gain.  I lent money to stock exchanges like Poloniex and bitfinex, but the gain was very, very few. also saw the yobit net there was higher than the gain..  There are companies lending to people and I have no knowledge about them

I would advise you to stay away from Yobit exchange. They have a very bad reputation over here. They list tons of shit coins which are manipulated and then they profit off the users. Just search "yobit" and you will see tons of scam accusation popping up on the result. I wouldn't even think about storing any coins at yobit let alone lending them anything.

[LUCKMCFLY]

lending nice but I guess little gain.  I lent money to stock exchanges like Poloniex and bitfinex, but the gain was very, very few. also saw the yobit net there was higher than the gain..  There are companies lending to people and I have no knowledge about them

I would advise you to stay away from Yobit exchange. They have a very bad reputation over here. They list tons of shit coins which are manipulated and then they profit off the users. Just search "yobit" and you will see tons of scam accusation popping up on the result. I wouldn't even think about storing any coins at yobit let alone lending them anything.

It's true, anywhere you want to look about Yobit they do not speak very well, in fact, if at some point they won enemies I do not think that only their bad reputation has been assigned to them, I'm sure it's because of several complaints from many operators that had nothing to do with it.

[South Park]

Cryptocurrency loans emerged as an increasingly viable alternative to borrowing loans. What do you think about the cryptocurrency lending business?

https://news.bitcoin.com/genesis-capital-processed-1-1b-of-cryptocurrency-loans-in-2018/

Lending cryptocurrencies is a very risky business so many people that need small loans and that have no collateral will never get them, personally I see this as a good thing, we live in a world immersed in debt and it seems that now everyone is carrying a huge amount of debt and those that do not are seen as being weird, cryptocurrencies despite their advanced technology will bring the old idea that only loans for productive businesses will be given while loans just to consume a product will become scarce.

[jabrix]

The first time I came across cryptocurrency lending was on nexo where you can use your cryptocurrency as a collateral in this way you can use any of the altcoins as a collateral and get loan from the site, cryptocurrency lending is a new wave in the cryptocurrency world and at that we should keep watching to see how far and positive is will help the community.

In my opinion, crypto borrowing is not much different from fiat money lending, because the procedures performed are the same, and data information must be complete and accurate.
Besides that there are costs that must be paid with high interest and a short period of time making the borrower must really take into account the risk if he is unable to return it.

[efxtrader]

The first time I came across cryptocurrency lending was on nexo where you can use your cryptocurrency as a collateral in this way you can use any of the altcoins as a collateral and get loan from the site, cryptocurrency lending is a new wave in the cryptocurrency world and at that we should keep watching to see how far and positive is will help the community.

In my opinion, crypto borrowing is not much different from fiat money lending, because the procedures performed are the same, and data information must be complete and accurate.
Besides that there are costs that must be paid with high interest and a short period of time making the borrower must really take into account the risk if he is unable to return it.

Its possible to create crypto lending bussiness but need government rules. We know that many crypto investor want anonymity and wont pass KYC, if crypto lending bussiness created, Government regulation needed to protect lender or investor in this bussiness

[CarnagexD]

The first time I came across cryptocurrency lending was on nexo where you can use your cryptocurrency as a collateral in this way you can use any of the altcoins as a collateral and get loan from the site, cryptocurrency lending is a new wave in the cryptocurrency world and at that we should keep watching to see how far and positive is will help the community.

In my opinion, crypto borrowing is not much different from fiat money lending, because the procedures performed are the same, and data information must be complete and accurate.
Besides that there are costs that must be paid with high interest and a short period of time making the borrower must really take into account the risk if he is unable to return it.

Yeah, its not that much different from fiat lending business but technically it is, since its both borrowing and there is expected interest in return just so happen that it is in another form of currency but is convertible to fiat. And also returning what you borrowed on cryptocurrency may vary because of high volatility on the market.

[Coin-Desk]

Now Cryptocurrency lending business is a new era of business. Many of these forums now do business in Cryptocurrency loans. And through this, they have benefited a lot. They provide the Cryptocurrency Loan on a weekly, monthly, and yearly basis. They earn some interest through loans. And this interest is their profit. Cryptocurrency is required to obtain a loan from a loan businessman. They never lend without collateral. If they end up paying the debt, they increase the amount of interest. And even if they can not repay the loan, then the case is named in the name of them. So, without the ability to repay the loan, it is better to not take the loan.

Thank you.

[aad140386]

I think this is a very good and necessary idea. True financing mechanism should be transparent, otherwise regulators of different countries may prohibit such financing. Perhaps regulators in some countries may be loyal to the origin of funds and not require any documents confirming the origin of funds, but then investors should have confidence in the safety of their money. With such an investment should be the protection of the investor. If all these conditions are met, then many companies will be able to receive significant investments.

[jhongzjhong]

I think this is a very good and necessary idea. True financing mechanism should be transparent, otherwise regulators of different countries may prohibit such financing. Perhaps regulators in some countries may be loyal to the origin of funds and not require any documents confirming the origin of funds, but then investors should have confidence in the safety of their money. With such an investment should be the protection of the investor. If all these conditions are met, then many companies will be able to receive significant investments.

Also agreed with you, true financing mechanism Bitcoin will have more transaction every day through that it will help to circulate the price that is because of transaction fees that may also be profitable by miners. And blockchain technology have a transparency work on that. Through this lending platform using cryptocurrency, I think it really helps the market and contributes to growth by making more transactions.

[deisik]

The first time I came across cryptocurrency lending was on nexo where you can use your cryptocurrency as a collateral in this way you can use any of the altcoins as a collateral and get loan from the site, cryptocurrency lending is a new wave in the cryptocurrency world and at that we should keep watching to see how far and positive is will help the community.

In my opinion, crypto borrowing is not much different from fiat money lending, because the procedures performed are the same, and data information must be complete and accurate

Are you sure you understand what the whole thing is about?

This is about online lending business. So how many businesses do you know that are involved in lending fiat online, i.e. without real collateral, going to the bank office in person, signing a pile of papers and doing similar stuff? I don't know any as that would be equal to giving out money without a chance of getting it back in the majority of cases. And what actual procedures do you refer to in your post, I"m curious?

[tonyja2017]

 I find that business in this area is really great. Genesis Capital is only an intermediary and receives 5-7% interest but lends at 10-11%. This seems like a tremendous big interest rate. Banks only have an average interest rate of 1-2.25%.
This is really an area that brings a lot of money to intermediaries. Last year, Genesis Capital's total loan amount was up to $ 1.1 billion. It has brought millions of dollars to businesses despite the crypto market being degraded.

[BitcoinTurk]

Cryptocurrency loans emerged as an increasingly viable alternative to borrowing loans. What do you think about the cryptocurrency lending business?

https://news.bitcoin.com/genesis-capital-processed-1-1b-of-cryptocurrency-loans-in-2018/

As long as there is no assurance in today's conditions, I think it's not a very logical job because it's a much more risky payment method than the banking sector. Especially because there is no regulation or regulation in this sector, this job becomes more difficult. Of course, it would be wrong to interpret this work just because of these reasons, but it is also a fact that it is more difficult than other alternatives in the same sector.

[Sebas.tian]

The price of crypto is too erratic, it will be hard to track your gains and you have to take several counter-measures for worst case scenarios. Though hard, I still think it has lot of potential given that this space is still growing and many ideas will ideas will come up making lending easier and risk free like Micromoney. It only needs few personal details and lets you use their token as collateral.

[TheUltraElite]

I find that business in this area is really great. Genesis Capital is only an intermediary and receives 5-7% interest but lends at 10-11%. This seems like a tremendous big interest rate. Banks only have an average interest rate of 1-2.25%.

Would not seem suspicious would it? I doubt the legitimacy behind running such businesses but who cares anyway? Traditional loan shark mafia days are long gone and now the same system is used just under the veil of crypto lending. Would not be surprised to see predatory lending rates and extortion modes to get back money by the debt recollection agents.

This is really an area that brings a lot of money to intermediaries. Last year, Genesis Capital's total loan amount was up to $ 1.1 billion. It has brought millions of dollars to businesses despite the crypto market being degraded.

Stop promoting projects like this. Keep your comments on topic and not promote something like this.
Like I have said previously in this thread crypto lending could be a good business but there are a lot of issues which need to be dealt with if it is to be done on a large scale and not just a forum P2P lending system by a certain lender.

[TheCoinGrabber]

I have little idea of how loans here on the forum work (never used it). I skimed through the article and I must say, that crypto for cash is both smart and risky. Genesis Capital could possibly earn a lot from the crptos in lien should the borrowers default.

[rhyoanime]

I think it's difficult and what if there is a trick in the loan.
but of course to make a loan there must be strict rules about collateral if the debt cannot be paid.

[iv4n]

I think it's difficult and what if there is a trick in the loan.
but of course to make a loan there must be strict rules about collateral if the debt cannot be paid.

Even this forum have lending section, some people, to not name them or advertise them, are earning bitcoins with lending business from a long time. You even have some sites for that, I remember poloniex, among all other exchanges, also had lending option. It`s nothing new, people earn like that, you need to have bankroll and skills to do it. You can`t lend without collateral, you need to have good rates, better than others. Eventually all debts are paid if you are careful and take all necessary steps.

[daarul50]

In my opinion, the cryptocurrency lending business is a very promising business. for example someone borrows $ 100 in bitcoin when the price of bitcoin is around $ 10,000, and now the current price of bitcoin is around $ 3600, the borrower must return far more bitcoin than when borrowing. Clearly the benefits are obtained by the person who lends.