How do you feel about loans on the crypto space?

[Milan1009]

I have heard about this option since a long time ago on big names, such as Binance or Crypto.com, haven't needed them at the time, but, now looking at some possible loans, I encountered smaller projects that will offer the same service, but, better benefits, like Proteus Finance and was wondering if you have any other reliable crypto loan options that have used in the past

[TastyChillySauce00]

I have used aave but after that i never try to use any other platform that was offering loan again. in my opinion if taking the loan in the cryptospace is too risky for now consider about how volatile the cryptocurrency is. that's why i avoid to take another loan again from the crypto platforms and the interests are also very high. In my opinion that if loan in the crypto space is really helpful for sure. A lot of people are actively taking and paying the loan.
This is quite easy rather than try to take a loan from the bank.

[GEMIN_M4]

Crypto loan is just like other real-world loans, with collateral and leveraged strategy, not much difference, I just don't like the idea of taking loans to do something that may fail at any time, I think a loan is for the experts not someone that's still learning.

[pakhitheboss]

Crypto loan is just like other real-world loans, with collateral and leveraged strategy, not much difference, I just don't like the idea of taking loans to do something that may fail at any time, I think a loan is for the experts not someone that's still learning.

How can a cryptocurrency loan be similar to a real world loan.?You do not need to reveal your identity or go through a credit score check when you borrow crypto loan.  You just need a collateral which you might lose if its value falls below the borrowed amount. Both have their own set of risk. If you are willing to take that risk then you can borrow.

[passwordnow]

I have heard about this option since a long time ago on big names, such as Binance or Crypto.com, haven't needed them at the time, but, now looking at some possible loans, I encountered smaller projects that will offer the same service, but, better benefits, like Proteus Finance and was wondering if you have any other reliable crypto loan options that have used in the past

It's better to take loan to a reputable crypto if you want to. The collateral might even be bigger but that's part of the business and if you want to have something better and lower interest then have someone personally to take that loan in crypto and have an agreement on how much you're going to pay and its terms as well. Personally, I don't want to take a loan or have my cryptos into collateral but I know that there are people that have this strategy so that they can't spend their crypto if ever they need money.

[Mosharafhh]

I didnt use this method also but i saw lending option on too many exchanges but i think it is also a way like holding something on your exchange and start trading by their own fund and complete leverage trade and pay them as well.

[bitkanu]

I never try to take loan in the crypto caused by it's too risky. IMO if the small platforms will be offering better benefits to attract the liquidity providers and users. if the small platforms are not doing it and they can't survive for sure as the big companies keep creating more and more benefits for the holders or loan providers. This is a hard time to the small platform like proteus finance to compete with the big platforms that have been dominating the crypto market. I don't like crypto loan caused by the interest is so high compared with the traditional loan offered by the bank.
In my opinion if taking loan in the crypto is very risky decision.

[traderethereum]

I suggest you do not take the loan if you think it will be hard to repay because loans in the crypto space are similar to loans in the real world.
If you have fix job, maybe you can take the loan but I do not recommend it as we do not know what will happen later.
It is better to use what we have and grows it, and no matter if the process seems to look slowly, at least that will come from your effort to grow that thing.
Besides that, the loan will have risks and sometimes, we forget about the risk.

[Kemarit]

I have heard about this option since a long time ago on big names, such as Binance or Crypto.com, haven't needed them at the time, but, now looking at some possible loans, I encountered smaller projects that will offer the same service, but, better benefits, like Proteus Finance and was wondering if you have any other reliable crypto loan options that have used in the past

I haven't tried those kind of service because of the risk, but I will have to admit that I did take some loans from a reputable member here in the community and I paid my dues already.

But with those services around, not sure if I will go with that route, as I have said, the risk is too high for me at least. I just needed some money that time, very quick that's why I did take the loan. But if I have other choices, I wouldn't venture though.

[btc_angela]

For me this is good for the crypto market, I mean majority of us from time to time is in dire financial trouble and we need to take up loan very fast. So at least we have this services that offer that kind of things for us. Nevertheless, just like in fiat loan, you need to pay in time and doesn't make sense to default it. So as long as you know the risk then probably you are good to take this loan if needed.

[hugeblack]

Since Covid-19 start-up and a lot of countries keep low interest rates with non-emphasis in monetary policy and therefore you can get a loan easily and without taking a big interest. so Why do you risk getting a loan from cryptocurrency that require an escrow(will be liquidity to cash as soon as they are low {selling at the lowest price})?

In short, ask a loan from your friend is better than getting a loan from cryptocurrency.

Finally, cryptocurrency investment is dangerous, do not invest in what you can not afford to lose and do not borrow money to buy cryptos

[Teletalk.org]

As far as I know about crypto lending, there are some sites on this bitcointalk forum that offer lending. But not everyone is given a loan, only those who have a trust member and a legendary member from a full member are given a loan and they have to repay it with a certain amount within a month. I think these are very good. Because it is available when needed and is returned later. But there are many members who take a lot of money in the name of debt and kill it. So before giving a loan, you have to give a loan.

[wxa7115]

I have heard about this option since a long time ago on big names, such as Binance or Crypto.com, haven't needed them at the time, but, now looking at some possible loans, I encountered smaller projects that will offer the same service, but, better benefits, like Proteus Finance and was wondering if you have any other reliable crypto loan options that have used in the past

While I am not completely against taking loans I have always been very wary about them, why do you want to take loan? That is by far the more important question, if what you are trying to do is to use leverage trading then I will advise against it.

Only expert traders should do something like that, a newbie trader will not really improve by much their ability to make more money from the markets while they will increase their risk many times over, making it a bad decision no matter how much I think about it.

[JeffBrad12]

that's really helpful for some people. The competition of platforms that offering auto loans are very strict these days as there are so many platform exists and the demand got divided even more. Anyone who dealing with this kind of loan with very high interest have been thinking so many times to take it as they are also must putting collateral to take the loan and remember that the market is unpredictable. once people used their loan to trade in the market and they are loosing it and they will be on a disaster

[darewaller]

Never going to work properly. We have "give 100 bucks worth of bitcoin and get 80 bucks worth of eth" type of loans but that is not really how a loan works. Banks look at you, look at your salary, look at what you own, look at your income, and then they decide to give you money for nothing, not nothing of course they expect you to pay them back but they do not expect you to lock money in just to give you a loan.

It means you can take that, put it in your business, grow it, earn more, and then pay it back. Here in crypto? You pay a certain amount to make sure that you do not default, well if I have the money, then I do not need the loan anyway, useless.

[crzy]

I have heard about this option since a long time ago on big names, such as Binance or Crypto.com, haven't needed them at the time, but, now looking at some possible loans, I encountered smaller projects that will offer the same service, but, better benefits, like Proteus Finance and was wondering if you have any other reliable crypto loan options that have used in the past

Loans in crypto exchange needs a collateral to qualify, if you do trading like leverage this is just like a loan and if your target hit either you can have profit or your money will be liquidated. I’d rather not to trade than to use money from a loan, this is too risky and better to set aside some money for your trading activities without taking any loan.

[royalfestus]

Crypto loan is just like other real-world loans, with collateral and leveraged strategy, not much difference, I just don't like the idea of taking loans to do something that may fail at any time, I think a loan is for the experts not someone that's still learning.

Those lendings are not actually what the traders been used. The risk is also high. Choose a reliable exchange for such activites, make sure the projects  make enough information for provision for the loan. Mode of paying a back, also find out the stage of the market

[livingfree]

Only expert traders should do something like that, a newbie trader will not really improve by much their ability to make more money from the markets while they will increase their risk many times over, making it a bad decision no matter how much I think about it.

It's not really advisable for newbies.

If there's no reason to take a loan then you better don't do it because that will just push you more down and you'll just get some debt that you may not like the result of it.

There is no problem if you really need money and you think loaning them is the answer and you'll eventually pay it with interest because you have a stable income. If that's the situation, that's good but if not, you better not initiate taking a loan.

[goaldigger]

I didnt use this method also but i saw lending option on too many exchanges but i think it is also a way like holding something on your exchange and start trading by their own fund and complete leverage trade and pay them as well.

That will be the scenario and if you are not that good in trading, this is not advisable because its too risky.
Many newbies tend to borrow money to start their trading journey, which is not a good way to start honestly. If you want to become more effective in gambling you can start small with your money and there’s no need to lend aside from its risk you may never know if trading can give profit to you. Leverage trading is only for professionals, its a high risk trade and newbies can’t take it. Borrow money if there’s an assurance that your investment can give that money back, but if there’s none better not to borrow at all.

[DoublerHunter]

Only expert traders should do something like that, a newbie trader will not really improve by much their ability to make more money from the markets while they will increase their risk many times over, making it a bad decision no matter how much I think about it.

It's not really advisable for newbies.

If there's no reason to take a loan then you better don't do it because that will just push you more down and you'll just get some debt that you may not like the result of it.

There is no problem if you really need money and you think loaning them is the answer and you'll eventually pay it with interest because you have a stable income. If that's the situation, that's good but if not, you better not initiate taking a loan.

^ Definitely right and I agree on this, I rather sell my collateral if I have it than take a loan, you will pay the percentage interest of your loan while you have collateral that could be used to sell if you really badly need money. Taking such a loan on that kind of profit it seems you used them to have their profit from you, you will pay interest and the fee of sending your collateral.
It is better if you will take a loan using fiat because it is stable.