$2000 USDT Loan for a long term.

Hi.

I need $2000 USDT loan and I am creating this thread because I need a interest free loan.
I will provide BTC as collateral. If I take 2000 USDT loan, I would provide $2200 worth of BTC.
But, when I will return your USDT, you have to pay back in Bitcoin. For example, I will send you 0.053 BTC and when I will return your USDT, you have return my 0.053 BTC. BTC value may change and my $2200 might become $3000 or more.

The reason I am asking for it, I need some urgent cash but I don't want to sell my Bitcoin holdings at this moment. I hope that make sense.

But, I doubt if anyone would grant a interest free loan. That's why I would like to provide 10% extra collateral.

LB

I think you must clarify when you are going to pay back this loan "long term" doesn't mean anything at least to me.
Sure this amount of btc could reach 3000$ but if not? People have just taking a risk without earn nothing?
moreover you don't plan any interest on this/deadline /limits for payment back?

Quote from: bitbollo on January 20, 2024, 04:31:35 PM

I think you must clarify when you are going to pay back this loan "long term" doesn't mean anything at least to me. Sure this amount of btc could reach 3000$ but if not? People have just taking a risk without earn nothing? moreover you don't plan any interest on this/deadline /limits for payment back?

Good point. I guess I won't be able to payback in the next six months. So, the repayment should be in August 2024. No, I don't want to pay any interest. This is the reason I am going to provide 10% more Bitcoin as collateral. But, I may appreciate the person for helping but I don't want to specify anything. If I specify anything, that is Interest.

That's why I doubt if anyone would grant such loan.
The bull run is ahead and I really don't want to sell my Bitcoin

Quote from: Learn Bitcoin on January 20, 2024, 04:43:28 PM

This is the reason I am going to provide 10% more Bitcoin as collateral. But, I may appreciate the person for helping but I don't want to specify anything. If I specify anything, that is Interest.

What I think is that the duration for the loan for a period of 6 months is too long as it is a loan of no profit. Secondly is that the 10% that you said you provided has no use or importance as the loaner will pay you back the bitcoin after you pay back the USDT. If it is just two weeks to a month, possibly that you may see someone that would help, but for a period of six month without interest, it is like you are self-centered about this. Also I doubt that someone will give out loan which is risky and still not want interest on it.

Quote from: Learn Bitcoin on January 20, 2024, 04:43:28 PM

This is just too one-sided. I get it if it's for 1 week and someone wants to help out another forum user. But for six months, zero interest? That's insane. Tongue

What happens if BTC falls 10%? The user needs to sell the BTC, potentially at a loss, pay trading and withdrawal fees... all of that for nothing. Even US bonds are paying a 5% yield.

Quote from: TryNinja on January 20, 2024, 05:47:08 PM

Quote from: Learn Bitcoin on January 20, 2024, 04:43:28 PM

This is just too one-sided. I get it if it's for 1 week and someone wants to help out another forum user. But for six months, zero interest? That's insane. Tongue

What happens if BTC falls 10%? The user needs to sell the BTC, potentially at a loss, pay trading and withdrawal fees... all of that for nothing. Even US bonds are paying a 5% yield.

definitely. 8 months and no interest for such long time has no advantage for lender... he get only risks and has 0 earning.
Of course OP you're freely to ask any condition you want for your loan, but I think you must evaluate also the option for the lender. (it's much more convenient just "invest" these usd and not loan for 0 interest).

Quote from: Learn Bitcoin on January 20, 2024, 04:43:28 PM

That's why I doubt if anyone would grant such loan.
The bull run is ahead and I really don't want to sell my Bitcoin

You don't want to sell them, you don't want to give interest, then what's the reason for posting here? Undecided

Plus the "extra" 10% collateral that you so kindlyoffer isn't even near to the usual percentage for ANY collateral which is 30%...
Better lock your thread and sell them in exchanger. We all sold when we needed to and we didn't ask for interest-free loans.

Thanks, everyone.
I thought It would be a good deal for the lender because he could have made more money with that amount. He could have lent it to others and gotten interest from them. Even I was thinking of offering $2500 collateral but it seems no one is interested. BTW, One of our locals agreed to provide me $1K USDT without interest. So, I am locking this thread but need another $1K USDT.