riverdip (OP)
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November 24, 2019, 11:05:14 AM |
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hey guys i am trying to lend some btc, i used to lend on casino, but profits are very low and casinos are getting unstable.
i used bitfinex in past too, but since volume is getting low, what are platforms you guys recommend !
What are the trusted platforms recommended by fellow bitcointalk memebers !
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fast.com
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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mk4
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November 24, 2019, 11:50:11 AM |
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As far as I know, the two most reputable platforms are: I have listened to interviews from both platforms, so idk they're most probably trustworthy. I personally haven't tried either, so do your due diligence.
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nelson4lov
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November 24, 2019, 11:56:12 AM Last edit: November 24, 2019, 12:20:32 PM by nelson4lov |
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See the following platforms and their lending rates. 1. Binance Lending Currencies Supported: BNB, BTC, USDT, BUSD Rate: 0.2% to 3% on Flexible deposits, up to 15% on fixed lending deposits Website: https://www.binance.com/en/lending2. Nexo Currencies Supported : Stablecoins (BTC coming soon) Rate: up to 8% Website: https://nexo.io/?t=earn3. Blockfi Currencies Supported : Bitcoin, Ether or GUSD Rates up to 8.6% annually Website: https://blockfi.comAside from Lending, You can also earn some crypto for staking your assets. Binance Staking platforms supports XLM, TRX, ONE, FET to name a few. The rates for staking ONE or FET is as high as 10% annually. Website : https://www.binance.com/en/staking/productsYou should take the products market conditions into consideration as it can either be 50% down or 50% up from the time you start staking.
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riverdip (OP)
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November 24, 2019, 12:01:20 PM |
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See the following platforms and their lending rates.
1. Binance Lending : Currencies Supported: BNB, BTC, USDT, BUSD Rate: 0.2% to 3% on Flexible deposits, up to 15% on fixed lending deposits
Require KYC, thats a problem !
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fast.com
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nelson4lov
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November 24, 2019, 08:27:16 PM |
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Good thread to stumble upon. I am not sure how this lending works but I'll definitely check other details regarding this on how this one works. Thanks for the recommendation!
Hello, FaithInCrypto. I'm glad you found my recommendations useful. About your question about lending, here you go: Binance Lending products helps maximize your benefit. Just hold your funds in the Binance Lending product you are subscribed to and grow your wealth with accruing interest. What this means, If you participate in any of their lending products, you'll earn interest for simply holding your assets. Binance usually announcement new lending products here: 🔗 https://t.me/binance_announcements
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joniboini
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November 25, 2019, 04:53:42 AM |
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Require KYC, thats a problem !
If you're fine with converting your BTC to another token backed by BTC, then Instadapp or Compound is one of the platform which supports WBTC. The interest is really low and the liquidity is also not good. If that's a no go, another solution is to run your own lending business in this forum.
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TheUltraElite
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I see some members have suggested third party sites here. A word of caution because they need you to pass KYC which is a red flag, still whatever your take may be. Secondly putting your money into a "platform" does not necessarily mean that you are actually lending to someone legitimate in need of a loan. We have a number of fiat lending sites out in the internet doing the same but many eventually collapsed because they were hidden Ponzi/MLM schemes with fake loan originators and people invested in them. I am not saying all of them are bad but it is a point to ponder.
The safer (but still risky) thing to do is to set up your own lending marketplace. This could be a lending thread in this forum, check the other well known lenders here like @zazarb, @DireWolfM14, @shasan and you will get an idea.
But the biggest problem in running them is knowing how to lend. You will face manipulative people trying to squeeze money from you out of "friendship" gradually as you become popular. Always take a collateral secured loan to be safe if you wish to do this.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | │ | 1,000x LEVERAGE | │ | COMPETITIVE FEES | │ | INSTANT EXECUTION | │ | . TRADE NOW |
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sheenshane
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November 25, 2019, 09:36:13 AM |
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Require KYC, thats a problem !
When you are going to take a loan in the bank it will require personal documents and I think it will the same process on cryptocurrency loan IF you dont have collateral. But usually, there are collateral needs, just like selective altcoins. In addition to the given information above. -- Salt Lending: https://saltlending.com/ with interest of 5.95% -- support 11 altcoin include bitcoin as your collateral. -- YouHodler: https://www.youhodler.com/ with 12% interest --top 12 coins as collateral. -- CoinLoan: https://coinloan.io/ you can set desired interest --selected 7 crypto altcoins as collateral. Here in the forum, you can visit it here, Bitcoin Forum > Economy > Marketplace > Lending-- since you are a newbie you need collateral. LIST] Bitcointalk's Lending Services for more info. I'm not advertising any companies that I provided, and this is not financial advice. I haven't tried all of them but so far I didn't find any serious claimed about them.
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. .HUGE. | | | | | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . CASINO & SPORTSBOOK ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | |
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pedrog
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November 25, 2019, 09:46:54 AM |
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You can also do it on Poloniex, don't think rates are appealing but at least it's trustworthy.
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mk4
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November 25, 2019, 11:51:39 AM |
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Require KYC, thats a problem !
I mean, good luck looking for a legitimate and reputable lending platform that doesn't require KYC.. In fact, this is one of the cases that I'd probably look for a service that requires KYC, simply because you're entrusting your money to them(assuming I'm going to use a lending platform, which I never planned to).
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nelson4lov
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November 25, 2019, 02:24:13 PM |
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Require KYC, thats a problem !
I mean, good luck looking for a legitimate and reputable lending platform that doesn't require KYC.. In fact, this is one of the cases that I'd probably look for a service that requires KYC, simply because you're entrusting your money to them(assuming I'm going to use a lending platform, which I never planned to). You just hit the nail right on the head... Dang! I mean, if ever anyone wants to participate in stuffs like this, security should be on top of the person's priority and it shouldn't be compromised for anything. On that note, I think it's safe to say it's best to complete the KYC before participating in it. I know submitting KYC details isn't one of the favorites stuff that Crypto enthusiasts enjoy doing. KYC has it good sides too .
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riverdip (OP)
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November 25, 2019, 03:10:09 PM |
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Require KYC, thats a problem !
I mean, good luck looking for a legitimate and reputable lending platform that doesn't require KYC.. In fact, this is one of the cases that I'd probably look for a service that requires KYC, simply because you're entrusting your money to them(assuming I'm going to use a lending platform, which I never planned to). You just hit the nail right on the head... Dang! I mean, if ever anyone wants to participate in stuffs like this, security should be on top of the person's priority and it shouldn't be compromised for anything. On that note, I think it's safe to say it's best to complete the KYC before participating in it. I know submitting KYC details isn't one of the favorites stuff that Crypto enthusiasts enjoy doing. KYC has it good sides too . i used to use YOLODICE for investing my coins in the gambling site, now bitfinex is only site that doesn't want kyc for lending !
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DireWolfM14
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November 25, 2019, 04:31:54 PM |
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There's one more that hasn't been mentioned, and they're an advertiser here on the fourm; Bitvest: https://bitcointalk.org/index.php?topic=1221154.0I've never used any of the third party lending/investment services, but I've considered parking a small amount in Binance's service. I haven't yet because... web wallet reasons.
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riverdip (OP)
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November 25, 2019, 05:04:46 PM |
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There's one more that hasn't been mentioned, and they're an advertiser here on the fourm; Bitvest: https://bitcointalk.org/index.php?topic=1221154.0I've never used any of the third party lending/investment services, but I've considered parking a small amount in Binance's service. I haven't yet because... web wallet reasons. thanks bro, sure i didn't knew about this, let me do some background checks, then ill put some to see how are roi !
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LeGaulois
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Top Crypto Casino
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November 25, 2019, 06:30:41 PM |
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I see some members have suggested third party sites here. A word of caution because they need you to pass KYC which is a red flag, still whatever your take may be. Secondly putting your money into a "platform" does not necessarily mean that you are actually lending to someone legitimate in need of a loan. We have a number of fiat lending sites out in the internet doing the same but many eventually collapsed because they were hidden Ponzi/MLM schemes with fake loan originators and people invested in them. I am not saying all of them are bad but it is a point to ponder.
The safer (but still risky) thing to do is to set up your own lending marketplace. This could be a lending thread in this forum, check the other well known lenders here like @zazarb, @DireWolfM14, @shasan and you will get an idea.
But the biggest problem in running them is knowing how to lend. You will face manipulative people trying to squeeze money from you out of "friendship" gradually as you become popular. Always take a collateral secured loan to be safe if you wish to do this.
It is not necessarily a red flag. Some of these platforms are regulated by authorities. Of course, KYC is a common-process, you can't operate a business related to financial services without abiding by the laws (cryptos or not doesn't matter here). It could even be a positive flag when funds are insured, if there is no KYC how do you want the platform to refund you (if the site got hacked or whatever) What people do with the money is another problem but as long there is collateral you're fine
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mk4
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November 26, 2019, 02:37:15 AM |
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Require KYC, thats a problem !
I mean, good luck looking for a legitimate and reputable lending platform that doesn't require KYC.. In fact, this is one of the cases that I'd probably look for a service that requires KYC, simply because you're entrusting your money to them(assuming I'm going to use a lending platform, which I never planned to). You just hit the nail right on the head... Dang! I mean, if ever anyone wants to participate in stuffs like this, security should be on top of the person's priority and it shouldn't be compromised for anything. On that note, I think it's safe to say it's best to complete the KYC before participating in it. I know submitting KYC details isn't one of the favorites stuff that Crypto enthusiasts enjoy doing. KYC has it good sides too . Yeah exactly. I mean, I personally don't like KYC/AML either! But this is one of the cases that the reputable and supposedly "secure" ones require KYC, and the ones that don't aren't that reputable. Maybe sometime in the future we're going to get a reputable lending platform that doesn't require KYC/AML, but I really doubt it. But then again, I'm really not a fan of leaving my coins with a custodial..
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TheUltraElite
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November 26, 2019, 08:21:07 AM |
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What people do with the money is another problem but as long there is collateral you're fine The loans done on the lending platforms seem to come from loan originators like I said, I dont trust them about the loan origins. It is a problem and people should be careful about this. I have participated with ICOs like FastInvest and Debitum. FastInvest returned investors and remained a fiat lending platform only while Debitum is facing problems to recover in the bear market. I am yet to see other sucessful project like what Nexo and Salt have done but again I am skeptical about them storing users money with them. In my opinion setting up your own marketplace is better than giving your money to another company acting as an intermediary.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | │ | 1,000x LEVERAGE | │ | COMPETITIVE FEES | │ | INSTANT EXECUTION | │ | . TRADE NOW |
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alyssa85
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December 01, 2019, 12:34:56 PM |
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hey guys i am trying to lend some btc, i used to lend on casino, but profits are very low and casinos are getting unstable.
i used bitfinex in past too, but since volume is getting low, what are platforms you guys recommend !
What are the trusted platforms recommended by fellow bitcointalk memebers !
There arn't any trusted platforms. Poloniex used to allow lending and then lost money and forced all users to take a hit. I predict the same will happen to other platforms too. Lending bitcoin is extremely risky.
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Krislaw
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December 13, 2019, 04:31:22 PM |
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I see some members have suggested third party sites here. A word of caution because they need you to pass KYC which is a red flag, still whatever your take may be. Secondly putting your money into a "platform" does not necessarily mean that you are actually lending to someone legitimate in need of a loan. We have a number of fiat lending sites out in the internet doing the same but many eventually collapsed because they were hidden Ponzi/MLM schemes with fake loan originators and people invested in them. I am not saying all of them are bad but it is a point to ponder.
The safer (but still risky) thing to do is to set up your own lending marketplace. This could be a lending thread in this forum, check the other well known lenders here like @zazarb, @DireWolfM14, @shasan and you will get an idea.
But the biggest problem in running them is knowing how to lend. You will face manipulative people trying to squeeze money from you out of "friendship" gradually as you become popular. Always take a collateral secured loan to be safe if you wish to do this.
I don't know why you think an online lending platform won't request for identity verification. It's a normal process just for them to know who they are dealing with. But one disadvantage about these crypto lending platforms is that they require collateral x2 of the loan amount requested.
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