Best Bitcoin Lending Platform ?

[psycodad]

I have read this thread at the time it was posted and was very thankful for the pointers. So I decided to give few of the named platforms a whirl for investing, following are my experiences with these services.

Note that I was not interested in borrowing funds, but only in investing to earn some interest on my coins.
These are purely my views and factual experiences and neither investment advice nor any indepth reviews, just what I encountered while trying them.


Youhodler - https://www.youhodler.com
Signed up and verified with ID for KYC. Asked their support a few questions about withdraw fees and was impressed with the speed of replies.
Initially I didn't get to deposit coins and after about a week I received the following mail from them, titled "Your account may be suspended":

Dear --,

It's been a few days since your account was verified, but we can't see the activity on your part.

We are forced to inform you that accounts that are not active may be suspended for the next three months.

Please top up your wallet to access our services without any time limit.

Ok, now that was conceived by me as very weird, threatening users with account suspension just because they didn't deposit early enough. For me this was the showstopper and I aborted my testing, deciding that I won't trust them any of my corn. Therefor I can't say anything about returns, withdraws or interest paid, but this mail totally turned me away from them.


Blockfi - https://www.blockfi.com
Signed up and verified with ID for KYC. Deposited 0.1 BTC around 8th December 2019 and it was immediately credited to my account after confirming onchain.
According to their FAQ I was expecting to see some interest paid to my account by end of December/beginning of January 2020:

How and how often is interest paid out?

The interest earned in your BIA will be paid out at the beginning of every month. BIA account holders will be able to access a history of their interest payments and view their total balance on their BlockFi dashboard. Interest is paid in the client’s deposited currency, meaning Bitcoin will earn Bitcoin and Ether will earn Ether.

Though on January 2nd I still didn't see any interest paid to my account and decided to end the trial with them so I issued a withdrawal request for my 0.1 BTC. They state on their website that withdrawals can take up to several days, they also sent out a newsletter saying that due to federal holidays loan and withdrawal requests may take up to 48hrs because - well they are on holidays. Interestingly they managed to send out three newsletters from 30th Dec to 1st Jan.
After more than 30 hours my withdrawal of 0.1 BTC still hasn't been processed, though meanwhile I got a mail reporting that I earned $2.72 for my investment from December 8th to end of month. Will update, if my withdrawal finally hits my wallet.

Quick divestment is obviously not possible at Blockfi and if BTC had pumped today I would feel pretty pissed.

On the positive side it has to be noted that the BTC withdrawal should be free of any tx or withdraw fees (offer valid for one withdraw per month, subsequent withdraws get charged a fee).
Blockfi seems to be affiliated or run by Gemini and I somehow would expect them to process withdrawals much quicker.

[Updated withdrawal status]: Not received (last checked 31 hours atfer requesting)
[Updated withdrawal status]: Received my withdrawal (w/o any tx-fees deducted) ~36hrs after requesting it

Celsius - https://celsius.network
Had been recommended from LTC foundation and here. So I decided to give it a try even so it can only be done with an Apple or Android phone as it soley comes as app. As I don't fancy any smartphone the missus had to try it together with me. Even we made sure to untick the checkbox that says that we want our interest paid in Celsius (we want LTC), we constantly got notifications about having earned some Celsius. Lost temper at some point with this fondleslab interface bullshit and withdrew the 5 LTC back to our wallet. This worked instantly and without problems. Bottom line: Doing serious business on a fondleslab is just monkey business, I can't really understand why people do this sort of things on little devices where one wrong swipe can lead to things going terribly wrong.
App my ass, that certainly was the last time I was doing such things on device that is primarily good for looking for sexpartners and shooting down angry birds.. (yeah, I am a lil bit mobe-agnostic as you might have guessed by now...)


Bitvest - https://bitvest.io
Studied the site as well as their BCT thread and created an account (no verification needed) and deposited 1 LTC to see how it works. Within ~10 days with compounded interest that grew to ~1.03 LTC which I divested and withdrew. Worked like a charm, within moments the LTC was back in my wallet.
Meanwhile after the initial test I deposited and invested more and have got some nice gains from it. As their site allows API access to check your investments state it is very easy to graph what your investment does (example is a 0.1 BTC investment from ~Dec 10):



As can be seen above, there are times when you lose on your investment when somebody grabs a large win, after all you invest in the bankroll of the casino. Still over time this gave the best returns for me and I feel most confident in a service that has a thread here (and great trust rating).

Next I'll give Crypto-Games a try, they also have a thread here, their trust rating is also fine and they also feature an API to constantly check your investment w/o loggin into the site.

I personally definitely favour the casinos to get something out of my coins while I HODL (as in don't sell) them.

Again, I am not endorsing any of these sites/services at all, I am just reporting my experience.
Though if you would like to tip me for posting this, please feel free to use the below referral links when signing up to one of the casinos (I am done with the other ones):

https://bitvest.io?r=137121

https://www.crypto-games.net?i=BNDI9s2BSV

HTH

[1714061030]

1714061030

[LeGaulois]

@psycodad
Thanks for posting your feedback.

About Youhodler

It's not surprising to suspend inactive accounts, it happens even with platforms that have nothing to do with cryptocurrency.
Don't know what is the reasoning behind but "Suspend" is a pretty broad word, it may make you think that the member is not welcome, but in fact, it's a bit like facebook. Log in again with your email and your account is reactivated automatically.

About Blockfi

They do not give a precise date, in such cases, we shouldn't expect to receive interests on the first of each month. This is a way of giving an approximate date, since the 1st may occur on a weekend, a holiday, or whatever. It's a bit like at work when the boss tells you that you will be paid at the beginning of every month, rarely you do get paid exactly on the 1st.
Instead, we have to count on the first week of each month at the most.

About Celsius
App only = Not for me ^^

And casinos
I don't know anything so I'm not really interested in it. I feel like if you want to get a haircut, instead of going to the hairdresser, you go to the baker.

[psycodad]

Thank you for your reply LeGaulois, you raise some valid points.

About Youhodler

It's not surprising to suspend inactive accounts, it happens even with platforms that have nothing to do with cryptocurrency.
Don't know what is the reasoning behind but "Suspend" is a pretty broad word, it may make you think that the member is not welcome, but in fact, it's a bit like facebook. Log in again with your email and your account is reactivated automatically.

I was not trying to imply that this translates to some suspicious behaviour on their part, I don't think so. I believe it was thought to motivate me to deposit just NOW or even earlier. I can see no reason to suspend an account based on lack of activity (except forcing people into having some activity). While they possible thought that mail would lead me to make a deposit, it lead me immediately to requesting the removal of my account. My first thought when I got that mail was "Sheeesh, good I didn't deposit yet, they could have suspended my account while the deposit confirms".
Interesting that you mention FB, never been there so I didn't know but it looks like Youhodler and FB target a similar kind of audience.
I could conclude that Youhodler is probably a total legit business, but their strategy in dealing with prospective customers or investors doesn't fit me really and I do not plan to do business with them.

About Blockfi

They do not give a precise date, in such cases, we shouldn't expect to receive interests on the first of each month. This is a way of giving an approximate date, since the 1st may occur on a weekend, a holiday, or whatever. It's a bit like at work when the boss tells you that you will be paid at the beginning of every month, rarely you do get paid exactly on the 1st.
Instead, we have to count on the first week of each month at the most.

You are absolutely right, I have meanwhile updated my post to reflect that my withdraw hit my wallet after ~36hrs. To be honest I was never scared I won't get my BTC back at all, they seem legit by all means.
Regarding the interest being credited to my account, as you say I did slightly misinterpret their FAQ, they are factually totally correct and the 2nd of the month is still the "beginning of the month". I was however supposing that this is some job running on the first day of month automatically and got irritated when I checked.
With all that critics from me I'd like to point out, that the withdrawal from Blockfi came as promised without any fees, which I think is remarkable and generous.

About Celsius
App only = Not for me ^^

I could rant for hours about how stupid these mobile interfaces are and how they keep you from getting things actually done. But since I'd be upsetting 99.9% percent of all people, I'll shut up and just stick with "I am too dumb for smartphones and I love the battery life and real connectivity that my Punkt gives me when I need it.".
(Yeah, I really need to drop that link whenever I can, as I believe I've got one of the best mobes available and like a prophet I feel like making people see the bright light too).

And casinos
I don't know anything so I'm not really interested in it. I feel like if you want to get a haircut, instead of going to the hairdresser, you go to the baker.

  Somewhat true, never used any casino in my life (virtual or brick&mortar) before, but since I am now invested in one I tried it with a few hundred of DOGE just too learn what everybody knows: The casino always wins in the long run  This in turn affirmed me with my decision to invest in their bankroll. Sex, gambling and undertaking are the only businesses that work the same no matter what the economic situation is as grandpa always told me. The missus somehow objected investments in the sex or undertaking business though I am stuck with casinos for the time being 

[barota]

in my opinion and after some reshearch in sites internet ; it seem blockfi is good platform for lending bitcoin the site give up 6 percent annualy and withdrawl fess about 0.0025 btc . blockfi also need verefication id for start lend . you can also chose crypto.com it is legit

[psycodad]

in my opinion and after some reshearch in sites internet ; it seem blockfi is good platform for lending bitcoin the site give up 6 percent annualy and withdrawl fess about 0.0025 btc . blockfi also need verefication id for start lend . you can also chose crypto.com it is legit

The first withdraw with Blockfi is even completely free (no fees at all!).

[federik95]

From many months I use BankOfHodlers
At now I have payment's proof.

You can earn interest depositing crypto, interest is various and crypto depends (min 5%, max 7%): BTC 5%, ETH 5%, DAI 7%, ecc.
If you block your funds 1 or 3 or 6 month you get an additional +2%. -> BTC 7%, DAI 9%. (You can opt-out when you want)

I think it's a good service, at now maybe the site has many bugs but there's efficently customer assistance on Telegram

Here's link with ref: https://app.bankofhodlers.com/register/1ID0H7V
Here's link without ref: https://app.bankofhodlers.com/register?ref=web_homesec1

I hope that my reply helps.

[pakhitheboss]

As far as I know, the two most reputable platforms are:

• BlockFi: https://blockfi.com/
• Celsius Network: https://celsius.network/

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.

There are so many option available now days. If you do a google search you will find numerous exchanges providing lending service. As of now the ones that have a reputation nand good trust score are Binance, Neck and Blockfi. You can use any of these to earn interest on abitcoin lending.

[jessyj48]

Lending out crypto is no doubt one effective way of getting good returns but i still don't like the fact that exchanges can get hacked anytime, its still very risky to me but my advice is to stick with top exchanges only like binance

[Ukuhudu]

If you want bigger interest don't go to lending platforms

[maxdin]

Lending out crypto is no doubt one effective way of getting good returns but i still don't like the fact that exchanges can get hacked anytime, its still very risky to me but my advice is to stick with top exchanges only like binance

Yeah agreed. Moreover it can be "hacked", but by fact you can be scammed and can loose all your money
Since crypto has no legal status it has no official value for country, so you won't be able to protect yourself afterwards