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Author Topic: [LENDING SERVICE] Low Interest Loans - 0.1%/day - Crypto & FIAT - FREE transfer  (Read 989 times)
aliashraf
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August 22, 2019, 05:03:46 PM
 #21

I think you don't understand the meaning of a collateral, you are not paying 120% in crypto, it is the guarantee, you can't say "pay".
What you pay is the interests, 5% interest monthly, saying "60%" out of nowhere doesn't mean anything.


I'll give you an example, with big and round numbers so it is easy to understand:

•   1 BTC = 10000 USDT
•   You want a 10 BTC loan for 15 days, 5% monthly / 0.167% daily, you have USDT as collateral, so you need to send me:
--->  120000 USDT = 10 * 10000 USDT * 120%
•   At the end of the 15 days, you will have to give back the capital (10 BTC) and you will have to pay the interest:
--->  0.2505 BTC = 15 * 0.167% * 10 BTC
•   Then I give you back the collateral 120000 USDT.
•   So the percent paid on the loan amount is:
--->  2.505% = 0.2505 / 10

Hope it is clear enough  Smiley
Sure I do understand what collateral is, Jees  Grin

I mean if I had 120K USDT, I'd buy 10 btc, keeping my 20k untouched or using it for other purposes why should I pay any interest to anybody? To remain safe against btc price drops? What about the (more probable) price surges?

Secondly, in banking we don't use daily, weekly, monthly interest rates, it is so confusing, conveniently we use yearly interest rate indexes to have a common terminology such that when a greedy shark says I pay you 5% interest loans we could compare his offer with what a regulated bank offers instead of banging our head over and over against the wall when we discover he means 60% interest per year.
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jbdee
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August 22, 2019, 08:09:17 PM
 #22

Take my example and replace USDT by another crypto like ETH, or the opposite (switch BTC and USDT), I should have not taken a stablecoin in my example, even if it's a valid collateral and the scenario is possible.
A crypto loan is usually when you don't have FIAT and don't want to sell your crypto.

STT explained well the principle of the short term loans.

Again, you say "such that when a greedy shark says I pay you 5% interest loans", it doesn't mean 60% yearly, 5% is 5% if there is no time rate.

You can't compare a short term crypto loan to a bank loan, for the bank, you need a bank account, you need a solid purpose for the loan, you need to proove your identity, your address, your incomes, etc... And it's usually for years, I don't know any bank doing anonymous short term (few days) instant loan, if you know, let me know.

Also, does your bank lend crypto?!

Anyway everyone knows there is 12 months in a year or 365 days, so giving the monthly rate or daily rate is enough to know the yearly rate, but here it is for short term loans so it is a way easier and more straightforward to use the daily rate, or the rate for the duration of the loan.

Low rates loans for everyone! - I also can buy crypto for you
jbdee
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August 23, 2019, 02:57:02 PM
 #23

Update: The minimum rate is now 0.10% daily, the minimum collateral is now 110%. And you can borrow EUR or USD!

Low rates loans for everyone! - I also can buy crypto for you
jbdee
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September 04, 2019, 06:16:37 PM
 #24

Currency: BTC
Wallet address: [private]
Loan amount: 0.05
Repayment amount: 0.167% per day
Duration in days: ?? (should be less than 1 month)
Collateral currency: ZB
Collateral amount: 2077
Bitcointalk username: [private]
Telegram ID: [private]

Loan filled today 04/09/2019, I'll update when it's repaid.




Low rates loans for everyone! - I also can buy crypto for you
mikelsmith2020
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September 11, 2019, 06:31:53 PM
Last edit: September 14, 2019, 12:12:59 PM by mikelsmith2020
 #25

-snip-
Thank you for lending me some BTC. Have a great day!


Edit
I received the collateral back, thank you so much and looking forward for our next transaction.
jbdee
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September 14, 2019, 12:11:57 PM
Merited by joeperry (1)
 #26

I got the withdrawal pending on Bitfinex for almost 3 days, support didn't help me at all.
Don't use ZBT wallet on bitfinex.
I had to sell the collateral and I paid back in BTC through another wallet (not from Bitfinex), as agreed with the borrower.

@mikelsmith2020 Thank you for your understanding and patience.

Low rates loans for everyone! - I also can buy crypto for you
jbdee
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October 05, 2019, 08:47:21 PM
 #27

New loan with mikelsmith2020, agreed on Telegram:

Quote
Currency: BTC
Wallet address: [private]
Loan amount: 0.02
Repayment amount: 0.167% per day
Duration in days: ??
Collateral currency: ZB
Collateral amount: 700
Bitcointalk username: mikelsmith2020
Telegram ID: [private]

The rate will be lowered depending on the loan duration:
  • 15 to 30 days: 0.133% per day
  • 31 to 60 days: 0.100% per day

Low rates loans for everyone! - I also can buy crypto for you
DarkStar_
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October 06, 2019, 02:02:37 AM
 #28

Heads up, ChrisPop technically has a lower interest rate (0.075% daily for loans 1-10 days and 0.095% daily for loans 10-20 days) for collateralized loans which makes your "Lowest Interest Loans" claim in the thread title invalid.

jbdee
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October 06, 2019, 11:34:11 AM
Merited by DarkStar_ (1)
 #29

Updated!

Low rates loans for everyone! - I also can buy crypto for you
jbdee
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October 18, 2019, 03:48:01 PM
 #30

Loan fully repaid today, tx id: c927b487dd8495377454d045c13a7e5d333365f4cd89f3e1c0f47485e817df11
Collateral sent back, tx id: 0xf80820320c045bac22a169e89538da4afba3ddce94511cd3076e5e5c18069441

Thanks mikelsmith2020!

Low rates loans for everyone! - I also can buy crypto for you
mikelsmith2020
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October 18, 2019, 03:50:44 PM
 #31

Loan fully repaid today, tx id: c927b487dd8495377454d045c13a7e5d333365f4cd89f3e1c0f47485e817df11
Collateral sent back, tx id: 0xf80820320c045bac22a169e89538da4afba3ddce94511cd3076e5e5c18069441

Thanks mikelsmith2020!
Thank you again for our transaction! Have a great day, Cheers!
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