Would you borrow in cryptocurrency?

[okala]

Cryptocurrency loan can be very risky because of the high volatility of the ceypto market, I have never involve my self in borrowing before but I hard experience from this forum how the loan and borrowing process goes but I must say it a very risky thing to do at this moment cause you might lost everything and become indebted for life due to market crashed and failure to service your loan which will have accumulate lots of interest.

[jacafbiz]

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?

You can't pre-determine if a token price would be volatile or not, expect it is a Stable coin and I don't think you are talking about stable coin, for now I prefer to borrow in Ether as against Bitcoin because I don't see Ether repeating the 2017 run and expect BTC to outpace it long term. Also remember that volatility is one of the main characteristics of this space

[maxitdev]

In our project - https://www.maxicreditcompany.com/ - we eliminated the risk of price volatility. So borrowers won't need to afraid of paying more as they expected.

[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?

You can't pre-determine if a token price would be volatile or not, expect it is a Stable coin and I don't think you are talking about stable coin, for now I prefer to borrow in Ether as against Bitcoin because I don't see Ether repeating the 2017 run and expect BTC to outpace it long term. Also remember that volatility is one of the main characteristics of this space

read our White paper:
https://www.maxicreditcompany.com/whitepaper.pdf

a token doesn't need to follow the concept of stable coins to have a stable price

[De_nis]

Do you mean cryptocurrency crediting? If so, then I think the financial market is not yet ready for this, and in private it is not fair to both parties to the loan agreement.

[maxitdev]

Do you mean cryptocurrency crediting? If so, then I think the financial market is not yet ready for this, and in private it is not fair to both parties to the loan agreement.

Yes, I mean lending in cryptocurrency, of course in such crypto, which has low volatility.
Why wouldn't it fair to the parties?

[94K]

One can't predict the volatility of a token. I don't think borrowing in cryptocurrency is a very good idea because of the volatility of the crypto market. However, you can try one.

[maxitdev]

Actually, you can predict the volatility of a currency - also a cryptocurrency - if you know the forces, which are setting the price of it.
If a cryptocurrency has built-in mechanisms which limit their volatility it can be much easier to predict what will happen with its price.

Read about the concept of Maxit:
https://www.maxicreditcompany.com/
https://www.maxicreditcompany.com/whitepaper.pdf

[forexandcryptoauditor]

I have never done this. And also not sure if I will in future.
Even if someone wants to borrow cryptocurrencies, there is no such system available at the moment. Even if it is available, not sure if someone can trust on it. One can borrow from his/her friends but not sure what will be the situation if coin price goes down or high.
There are some exchanges, soon will launch cryptocurrencies loan system.
It will be interesting to watch then.

[MMA Rats]

No one can predict the future of cryptocurrency and even a specific token. But I’m sure that it will develop and grow despite government bans. Therefore, I think that no one will give away cryptocurrency loans.

[StarofBTC]

For now nobody seems to do that. Borrowing in cryptocurrency. Because what I know now is lending money online. Because, now there are many developments in the online world. Therefore there are many places to borrow money online. I have never seen borrowing in the world of cryptocurrency.

It happens mate, you can even check a section of this forum where it’s being done, people are borrowing cryptocurrency for whatever reason they need it for and they get it easily provided they are able to meet up with the collateral that the lender request for.

The other one you talk about, people have cryptocurrency and cannot afford to lose it because of their urgent need, so they borrow fiat and use their cryptocurrency as collateral too if it is more than enough to stand as collateral, but me personally, I don’t like such things as borrow, I wouldn’t take any chances.

[Beyerd17]

I would only borrow in cryptocurrency if I would have collateral in crypto also. I you borrow in crypto and that asset goes skyhigh, you basically owe much more in fiat. It's like asking would you borrow in gold.

[Corer]

Borrow in Crypto I don't think I will do that no matter how desperate I might be but I heard people are actually doing it and they do will provide whatever the render request for to be able to borrow

[maxitdev]

No one can predict the future of cryptocurrency and even a specific token. But I’m sure that it will develop and grow despite government bans. Therefore, I think that no one will give away cryptocurrency loans.

You can't say exactly what will happen in 10 years. But you can predict that USDC price will next week 1$, simply because it is designed that way.
And you can code a token - may be you not, but for example, I can - with mechanisms that limit its volatility.

Read about the concept of Maxit
https://www.maxicreditcompany.com/whitepaper.pdf
https://www.maxicreditcompany.com

[sentbit]

if you want to longtime just buy a cheap token and hold on your pocket, so this be better maybe need 2-5 year start from now,but if you lucky just need 1 year and then you got large profit.

[Esterklu]

I do not see the stability market that would allow me to say yes. The risks that debt will grow many times over a short period of time is too great. The idea is good, but for the future. Today my answer is no.

[adterna]

I personally do not really like the loan, because the price of cryptocurrencu is very volatile, if we borrow when the cryptocurrency price is high, and a few days later the crypto price decreases, then we will get a loss, so if I suggest we invest our funds first first, even though our funds are small but that is our own funds.

[syamster]

Maybe yes, if i can get some profit, but is hard these days to know if is possible to get back funds or they are lost, but to borrow on a bank in crypto we will don't see soon that option.

If it is good to make this as you business or if someone becomes agree to give you return you can think about it but I think it is hard to trust someone in this matter of currency and borrow in crypto currency. Actually people are now so clever they want crypto but sharing their profit, I think it is better hold your own.

[WatchMaker]

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?

Borrowing crypto is for higher forum members not newbies and Jr. members. How to do intend to pay back the loan anyway? You need to get higher ranks before asking for a loan.

[Xenrise]

I don't want to do KYC to borrow some some cryptocurrency. This site has high interest on this currency even low price.

What site are you actually talking about? As far as I see in this thread there is no site stated on OP and no site was quoted by you by any user. . But if you will borrow cryptocurrency, of course you need to do KYC(if needed) it's because KYC is important for those lenders to secure their money in return.