How Lending coins damage crypto?

[Kupid002]

Bitconnect I think is the most worst scam project ever developed. Most got hype with this one, I remember my friends inviting me to join their league but during that time I am bit broke and luckily I didn't join them cause right now they are regretting investing on it.

I never heard the other two. But sounds like they also scammed a lot of people based on your post. Many people got lost their money with these kind of projects and we can't stop it at hand cause no authority were able to regulate these kind of launching. Good thing SEC somehow busted those other fake ICO projects that are on the run.

not only worst but one of the bigggest scam project in the crypto industry. This program have many people invested because they think they can easily earn big if they invest , and the fact that price always increase there are many noobs amaze and invest without thinking. I heard it many times before but ill never invested any single penny.

[oleg8791]

Lending coin is a new name for the old pyramid scheme. Passive income is a daydream of many people. When will they understand that it's impossible to become rich doing nothing?

[Leonardo7]

HextraCoin is one project that frustrated many investors, they manipulated the price till they ran away. Bitconnect is the biggest lending scam that made some persons take a break from Cryptocurrency. Although the community kept giving a red flag on these lending coins, but people won't listen because of passive income.

[Finestream]

If you have doubts investing a lending platform through a coin, you should not risk money on it as it's really a high risk, of course anything in crypto is high risk so you need to be careful. I found a good one ,which is Binance lending program which I think more safer since Binance is the leading exchange with a good reputation, however they only guarantee 15% interest per annum which is too low compared to what we can possibly make investing in a lending platform.

source : https://www.coindesk.com/binance-launches-crypto-lending-with-up-to-15-annualized-interest

[GreatArkansas]

If you have doubts investing a lending platform through a coin, you should not risk money on it as it's really a high risk, of course anything in crypto is high risk so you need to be careful. I found a good one ,which is Binance lending program which I think more safer since Binance is the leading exchange with a good reputation, however they only guarantee 15% interest per annum which is too low compared to what we can possibly make investing in a lending platform.

source : https://www.coindesk.com/binance-launches-crypto-lending-with-up-to-15-annualized-interest

This is much better than those scammy shit altcoins with have guaranteed a huge return that's why they vanish just like a bubble in just a short span of time.
Just always remember, much higher guarantee returns, the risk is higher also.
This lending platform of Binance seems like good and much better than traditional banks out there.
BUT,
There are still possibilities that your money you in Binance will be lost also, since you don't have any private keys holding your coins there.
Your cryptocurrencies are still on the hand of Binance, that's why there are still risks and possiblity Binance will vanish even how reputable they are, they are still an centralized exchange.

[BlackFor3st]

It was end of 2017 around Oct-Nov, 2017. When i was start to understand about the concurrency and the importance of Blockchain. Then every where was hype about Bitcoin and Bitcoin was climbing day by day, during this time Etherium was also in race to beat everything was continuously gaining value.

This was the time of Lending coins were its peak i hope most of the people here will be familiar with these kind of coins Like:

• Bitconnect
• Davor
• Hextra

That time was the golden days for those who were entered in very beginning no doubt they earned a lot of money and may be make their best ever profit of the life. The question was, from where those competencies generating their revenue. That was the worst part of the game.

The only business to making money was referral system the influencer was trap people for a passive income without making any effort. The said story was they convince common people to invest their money in coins and let it bound for lending.

Finally those fake ICO's, Lending Project make crypto fruad technology for those who lost their hard earn money

This is the more reason why we need to be more vigilant in every project that we like to support or invest on as scheme like this will lead to scamming the money of the investors.

I never been a victim to them but I saw that many lost their hard earned money to this big schemes especially the Bitconnect so it's a big impact to the crypto community even if we know that we can avoid it if we want to but sometimes other investors are greedy enough to take the risk.

[imstillthebest]

Lending coin is a new name for the old pyramid scheme. Passive income is a daydream of many people. When will they understand that it's impossible to become rich doing nothing?

not possible if you know what you are investing with . if its a coin like this then the chance is slim because these are only new coin but if you invest on bitcoin , and if you have a patience , that is more possible to become rich doing nothing  . lending is not a kind of scam but lending is helpful for those want emergency funds , its also profitable business  but you only need to choose trusted and fair lending platforms   . most legit and fair can only be found offline though .

[magneto]

It honestly gave crypto an extremely bad reputation, of being a get rich quick scheme, a ponzi scheme, whatever.

The public seemed to struggle to separate their perceptions of mainstream, legitimate decentralized coins from these ponzi lending coins that simply use blockchain as a means to further themselves in terms of gains for the operators.

It's a good riddance, although I do feel for the victims who lost out on their life savings.

[FireBallex]

It was end of 2017 around Oct-Nov, 2017. When i was start to understand about the concurrency and the importance of Blockchain. Then every where was hype about Bitcoin and Bitcoin was climbing day by day, during this time Etherium was also in race to beat everything was continuously gaining value.

This was the time of Lending coins were its peak i hope most of the people here will be familiar with these kind of coins Like:

• Bitconnect
• Davor
• Hextra

That time was the golden days for those who were entered in very beginning no doubt they earned a lot of money and may be make their best ever profit of the life. The question was, from where those competencies generating their revenue. That was the worst part of the game.

The only business to making money was referral system the influencer was trap people for a passive income without making any effort. The said story was they convince common people to invest their money in coins and let it bound for lending.

Finally those fake ICO's, Lending Project make crypto fruad technology for those who lost their hard earn money

Very true and now crypto is not a safe haven for people who are just looking to invest, the best advice to pass unto new comers is to be ready to learn first, learn first and make money later this is the only way to go straight to the point and avoid unnecessary mistakes, popular coins most especially top coins are crypto's safe haven for new investors, I hope they listen

[bering]

If i'm not mistaken compare from those lending coins on the list i think bitconnect as the most famous lending coins ever and in my country people always be talking about this coin because offering good profit to their users and indeed the impact of scam lending coins to the crypto itself was very big because since people in my country got scammed from those coins they consider all of crypto world fully of scammers and decide to leave and never using crypto again