Would you borrow in cryptocurrency?

[maxitdev]

I am interested in opinions about borrowing in cryptocurrency.
If a cryptocurrency will have low price volatility, then would you borrow in that token?

If not please tell why?

[bassbity]

I have never borrowed anything in coin cryptocurreycy or tokens, to be honest I would not borrow anything at a low cost.

[Mahanton]

I am interested in opinions about borrowing in cryptocurrency.
If a cryptocurrency will have low price volatility, then would you borrow in that token?

If not please tell why?

As a borrower you would really tend to borrow up tokens/crypto that is mostly on the top rank yet we do see the volumes of it.BTC ETH and other top coins might do but
for the rest then i dont think someone would really be interested.

As a lendor then you will always target out profitable coins for you rather than choosing low price tokens.

[Mcmich]

Borrowing is not something I can do or encourage anyone to do, not when it comes to cryptocurrency. When you talk of borrowing, there has to be a lender, and how certain is the lender that he will get a pay back of the borrowed coin. I sometime heard of a platform that lends coins but I didn't quite understand the concept, may be cos I wasn't interested in the borrowing stuff.

[Tipstar]

The volatility is a great problem for crypto borrowing. Many P2P sites went out of business after some time when they failed to maintain their standard.
Bitbond is now the only trusted P2P bitcoin lending site which is also moving towards stable coins.
Newer platforms like Celsius and NEXO are too advocating for stable coins as it would be much more satisfying to both lenders and borrowers.

[rijaljun]

I'll borrow when i need, not depends on the currency. It will be cool to use crypto as credit when the volatility is low but until today crypto is high volatile and the risk is too high for debitor and also it's not really good for now because the value still depends on currency like USD, GBP, etc.

[madrogue]

I don't interesting to borrowing like a cryptocurrency. This is just like you borrowing a Money and most of people who will send you, they always need bonus to make their profit.

[ultrloa]

If you are planning to borrow a cryptocurrency well you should consider the volatility since if the time comes when the alt you borrow is cheap goes soar up for more then a chances for you to get loss since you will pay huge on its natural value where you lend cheap. So I suggest upon doing this is to go offline since the interest will be cheap and you can make sure that the borrowed money will not stretch.

[diamond_shine1]

my advice is don't borrow crypto because the market has high volatility. so if you receive 1 BTC at a price of $ 5000 and then 1 month will come the price goes up to $ 10k you will experience a big loss

[Johnzky]

I am interested in opinions about borrowing in cryptocurrency.
If a cryptocurrency will have low price volatility, then would you borrow in that token?

If not please tell why?

NO im not,because volatility of cryptocurrency or tokens will only brings huge interest and instead of borrowing crypto,I would rather borrow fiat or physical money and buy crypto so i only need to pay interest in given percentages

[maxitdev]

But what is the price volatility can be eliminated?
Check our concept:
https://www.maxicreditcompany.com/whitepaper.pdf
We tried to answer any question about how can work a crypto-based lending system

[Ailmand]

I am interested in opinions about borrowing in cryptocurrency.
If a cryptocurrency will have low price volatility, then would you borrow in that token?

If not please tell why?

I would prefer to borrow cash rather than cryptocurrency if necessary. We all know that cash isn't changing and is stable so I think borrowing it would bring us a lesser risk. Borrowing cryptocurrency is risky because its value is volatile and we might pay higher interest if the prices strike high.

[kaya11]

Yes or no It depends, if that token is worth borrowing. If you say borrowing Bitcoin or any other alts that are already worth to borrow then yes I just don't have the collateral to use, well it will be a loan, and so much troubles to go through just to borrow it from someone you don't know and vice versa. So it would be a lot strict than any other borrowing that is used normally. Also there would be interests, we are not only talking about borrowing here, because we are in a world of transacting with we know there is give and take.

[maxitdev]

Blockchain technology can handle the risk of not paying, also cryptocurrency can be designed to have low price volatility.
Read this white paper:
https://www.maxicreditcompany.com/whitepaper.pdf

I think bitcoin or ether is now not good for borrowing but stable coins or cryptocurrency designed to have low price volatility are good enough.

[funchiestz]

I am interested in opinions about borrowing in cryptocurrency.
If a cryptocurrency will have low price volatility, then would you borrow in that token?

If not please tell why?

This is a little dangerous. For both the lender and the borrower. As we all know cryptocurrencies, the price volatility is very high. This makes the debt relationship risky.

[anobtc]

Except stable coins, it's really risky to borrow money with cryptocurrencies, because of its unpredictable price movements. The simplest and safest way is still to borrow fiat money, then use it to buy crypto.

[maxitdev]

Not all cryptocurrency has a volatile price.
I am interested in the opinion if the will be stable against USD dollar.
I that case, what are you thinking about borrowing?

[maxitdev]

Except stable coins, it's really risky to borrow money with cryptocurrencies, because of its unpredictable price movements. The simplest and safest way is still to borrow fiat money, then use it to buy crypto.

I think it is much riskier and time-consuming to borrow in fiat and than buy crypto like BTC.
While would you take all the price risk?

[Novatech8]

I haven't borrow any penny in cryptocurrency before and I think it will never happen because I have this bad gift that never I borrow from someone to even set up a business things will go bad so its not my way to borrow

[Kingairdrop]

Why borrow cryptocurrency when you can earn it for yourself?  I dont think i can ever borrow cryptocurrencies, so i dont even have an idea as to how people does that. Several avenues have been created for crypto lovers like us to earn these cryptocurrencies free of charge and they are; through bounty, airdrops, moderation and mining