Nrcewker
Copper Member
Hero Member
Offline
Activity: 2156
Merit: 536
Building my own Dreams!
|
|
May 21, 2023, 10:59:20 AM |
|
Not all the coins are decentralised in nature, some are centralised too. If you want loan then definitely you have to prove that you are capable of it and you won’t default it. Be it decentralised currency or centralised currency, the trust factor remains the same in order to get a loan. There are many sites which offers crypto loans, but for it, you have to do KYC, and prove some collateral to get the loan. Similarly we have also a lending section here in the forum ( https://bitcointalk.org/index.php?board=65.0), you can get the loan here, but the collateral and trust factor remains the same.
|
|
|
|
|
|
|
|
Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
tranthidung
Legendary
Offline
Activity: 2254
Merit: 3983
Farewell o_e_l_e_o
|
|
May 21, 2023, 11:06:46 AM |
|
Does Bitcoin or cryptocurrency offer loan service? Another discussion in another topic with a same title. Bitcoin is built on Bitcoin blockchain and powered by a blockchain technology. It does not provide any service including loan service. What it provides is a blockchain on which people can build their services. These loans are typically facilitated through peer-to-peer lending platforms or decentralized finance (DeFi) protocols.
Both sides will have to rely on the DeFi operators and they can lose their coins if the DeFi platform collapses or scam exits.
|
|
|
|
GreatArkansas
Legendary
Offline
Activity: 2296
Merit: 1345
Buy/Sell crypto at BestChange
|
|
May 21, 2023, 11:19:51 AM |
|
(....) These loans are typically facilitated through peer-to-peer lending platforms or decentralized finance (DeFi) protocols.
Both sides will have to rely on the DeFi operators and they can lose their coins if the DeFi platform collapses or scam exits. I don't think so, there is not proof that these centralized exchanges guaranteed that the funds of their users are being used on DeFi platforms. Some of them for sure are being used for their own benefits which could lead to the risk of their customers' funds. They must be transparent here. So always advisable is to use decentralized platform that using these centralized.
|
|
|
|
YUriy1991
Full Member
Offline
Activity: 896
Merit: 217
#SWGT PRE-SALE IS LIVE
|
|
May 21, 2023, 11:59:18 AM |
|
Good and interesting question. Judging from the title, maybe the direction is a bit different from what you asked, as meant by @tranthidung. However, if you want to know what exchange platforms offer loans to individuals, I'll try to explain a little.
Now. This is an increasingly advanced digital era and this is one of the innovative and responsive solutions in responding to urgent financial needs without having to get stuck in the slow bureaucracy based on traditional securities.
I think this is not much different from banks when you look at their performance and for now large platforms also see this potential as you mean by offering loan services in the form of cryptocurrency loans and they are exchange platforms. Take the easy example on the Binance Platform for example. What needs to be noted here is of course the terms and conditions for each are different and this is based on the legal jurisdiction in which they operate both in terms of identity verification, credit assessment, and volume and liquidity for those who will apply for a loan.
|
|
|
|
BTCBroker2016
Jr. Member
Offline
Activity: 74
Merit: 1
|
|
May 21, 2023, 01:01:33 PM |
|
Some banks and exchanges do. But it would be fully centralised
|
|
|
|
Yatsan
Legendary
Offline
Activity: 2380
Merit: 1231
Leading Crypto Sports Betting & Casino Platform
|
|
May 21, 2023, 01:46:07 PM |
|
Possible on third party apps or wallets I guess. Never tried doing so and neither having plans. Through the idea of Loan, there would be an interest on the mount you will borrow and I think it would be better to borrow fiat amount than directly cryprocurrency for the fact that the value of your loan would increase everytime prices go up unlike with fiat loan wherein the amount would be the same plus the interest. Still, I won't suggest taking a loan to a risky investment. It would be only okay with properties or real estate given that consistency with price increase on the mentioned asset, exist.
To my awareness, there are no exchangers offering such thing even with centralized ones. It would be more possible with online baanking which accepts crypto as payment but I'm not quite sure of the terms.
|
..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
Mr. Magkaisa
|
|
May 21, 2023, 02:26:59 PM |
|
I have understood what centralized and decentralized systems are and I know that banks are centralized with physical locations/attributes, with strict monetary policies governing it. While decentralized system is the crypto currency or the Blockchain technology which is the where Bitcoin is built on.
Both have helped to solve human financial problems in one way or the other, depending on the means which one earns from. Ignoring all other features I could talk about and with my focus on loans schemes, I want to ask if as banks offer loans to individuals, companies even to the government, does Bitcoin or any other cryptocurrencies or exchange offer loan service? If yes, what is some criteria that may be required?
- There is no bitcoin service called here in terms of loan in this industry. But for people who believe in bitcoin, there are lenders, and that is also here on this forum platform. And you can find it in this section https://bitcointalk.org/index.php?board=65.0So what others have said here is correct that most of the altcoins in this business are not decentralized at all but most of them are centralized based tokens such as Xrp, Xmr and others.
|
| | . Duelbits | │ | | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | █████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ █████ | ██████████████████████████████████████████████████████ . PLAY NOW . ██████████████████████████████████████████████████████ | █████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ █████ | |
|
|
|
maydna
|
|
May 21, 2023, 02:31:38 PM |
|
Bitcoin does not offer loan services because it is individual, so if someone wants to buy it, he buys it with his own money. Perhaps, if someone signs up for a third party service, some services offer loans to their members so that people can borrow money to buy Bitcoins. But you have to watch out for this because usually there will be requirements that are difficult to fulfill, but we don't know the truth.
And if you want to create a company with a service to borrow money from members, you have to ask the members for guarantees so that if your members can't pay off the loan, you can take the guarantee.
|
|
|
|
flyingcarpet
|
|
May 21, 2023, 02:46:56 PM |
|
You need to meet certain conditions and have real assets to be able to grant a loan. This is a market rule that applies in most places. But Bitcoin doesn't meet these conditions, and it shouldn't. That's because Bitcoin doesn't have an owner or a company. There are institutions that give Bitcoin or any other coin on credit, but I haven't used it. Maybe even this will be formalized in the future. After all, credit is a resource that everyone may always need.
|
|
|
|
Agbe
|
|
May 21, 2023, 03:01:53 PM |
|
does Bitcoin or any other cryptocurrencies or exchange offer loan service? If yes, what is some criteria that may be required?
Op this your question looks like this, does dollar give loan? How do you feel the question now. Dollar never give loan as well as bitcoin. But individual who uses bitcoin can give loan which can be found in Lending Board . So you can go there and read the rules and chat up any Lender and if the T/C are okay with you then you can collect the loan. I will still say NO bitcoin does not give loan but the users.
|
|
|
|
Texac
|
|
May 21, 2023, 11:14:00 PM |
|
I have understood what centralized and decentralized systems are and I know that banks are centralized with physical locations/attributes, with strict monetary policies governing it. While decentralized system is the crypto currency or the Blockchain technology which is the where Bitcoin is built on.
Both have helped to solve human financial problems in one way or the other, depending on the means which one earns from. Ignoring all other features I could talk about and with my focus on loans schemes, I want to ask if as banks offer loans to individuals, companies even to the government, does Bitcoin or any other cryptocurrencies or exchange offer loan service? If yes, what is some criteria that may be required?
basically, bitcoin is just an asset like gold or fiat, it cannot and does not provide a lending service on its own. all loan services require human intervention. When there are many people in need, organizations, companies, and banks will create services and provide them to everyone, they can use fiat, gold, and bitcoin as a means of payment and lending...Currently, there are several centralized exchanges that offer bitcoin loans by collateralizing other assets, but I do not recommend borrowing bitcoin as its volatility can get you into trouble.
|
|
|
|
dezoel
Legendary
Offline
Activity: 2002
Merit: 1072
Leading Crypto Sports Betting & Casino Platform
|
|
May 22, 2023, 08:56:44 AM |
|
Banks are controlled by people and are a business that is run only to earn money, and giving out loans is one of their most profitable products to earn money, while on the other hand, Bitcoin is decentralized and isn't in anyone's possession, so it doesn't need money, so there is no need for Bitcoin to provide loans for people only to get some interest.
If you talk about exchanges or some other platforms and protocols like DeFi protocols, they do offer loans to their users and charge interest from them since they are not decentralized and the people behind them need money to run their projects and pay their workers.
|
..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
Victorik
Member
Offline
Activity: 966
Merit: 14
Tontogether | Save Smart & Win Big
|
|
May 22, 2023, 09:31:56 AM |
|
Bitcoin itself is decentralized; meaning it is not controlled by anyone, and because of this singular reason it can't be loaned. However, there are third party loaning agents I believe who can loan you some BTC or crypto currency if you meet certain terms and conditions.
|
|
|
|
GideonGono
|
|
May 23, 2023, 12:17:41 AM |
|
I have understood what centralized and decentralized systems are and I know that banks are centralized with physical locations/attributes, with strict monetary policies governing it. While decentralized system is the crypto currency or the Blockchain technology which is the where Bitcoin is built on.
Both have helped to solve human financial problems in one way or the other, depending on the means which one earns from. Ignoring all other features I could talk about and with my focus on loans schemes, I want to ask if as banks offer loans to individuals, companies even to the government, does Bitcoin or any other cryptocurrencies or exchange offer loan service? If yes, what is some criteria that may be required?
I don't think that there is a crypto that offer loan service, but there are some people who does that in crypto they offer loan in form of crypto currency. The criteria or requirement would be up to them, but I don't really see why people would want to do it if they need money why not loan Fiat in order to avoid fees? The only way that I think they would benefit from it (people who would take the loan) is when they use it to trade and then pay it back when the price drops down but we doesn't know when would it really happen and how long would it take.
|
|
|
|
BVeyron
|
|
June 13, 2023, 11:31:47 PM |
|
I have understood what centralized and decentralized systems are and I know that banks are centralized with physical locations/attributes, with strict monetary policies governing it. While decentralized system is the crypto currency or the Blockchain technology which is the where Bitcoin is built on.
Both have helped to solve human financial problems in one way or the other, depending on the means which one earns from. Ignoring all other features I could talk about and with my focus on loans schemes, I want to ask if as banks offer loans to individuals, companies even to the government, does Bitcoin or any other cryptocurrencies or exchange offer loan service? If yes, what is some criteria that may be required?
I suppose it will be possible in the future, but now, due to gaps in legislation regarding cryptoassets in most countries, it's impossible to get a legal loan in BTC. On the other side, due to the same reason taking a loan in BTC can't be considered illegal as well (unless cryptocurrencies are prohibited in the country where a loan is taken). I'm not sure if there are people or companies who offer BTC loans... I'd consider such loan risky, at least at this level of adoption...
|
|
|
|
|