What are Best Trusted Lending options other than Binance?

[Chandu141]

Hi,

What are the What are Best Trusted Lending options other than Binance you have come across in the crypto world...

It's hard to trust any other exchange than a reputed old exchange like Binance but just wanted to know if there are any other alternatives if there are any that can be compared with binance.??

[Plaguedeath]

I don't really know lending options and I also not interested with that, but if borrower not pay your money, what's gonna happen? do you get the collateral or Binance refund your coins?

Currently the second and third big exchanges are Bybit and Coinbase.

But, don't forget FTX was top 5 exchanges, so I don't think you should take a risk if Binance is the trusted CEX.

[Chandu141]

I don't really know lending options and I also not interested with that, but if borrower not pay your money, what's gonna happen? do you get the collateral or Binance refund your coins?

Currently the second and third big exchanges are Bybit and Coinbase.

But, don't forget FTX was top 5 exchanges, so I don't think you should take a risk if Binance is the trusted CEX.

Very well said... After hearing FTX i dropped the idea of lending.
Thank for reminding me about the disaster 👍🏼

[passwordnow]

Hi,

What are the What are Best Trusted Lending options other than Binance you have come across in the crypto world...

It's hard to trust any other exchange than a reputed old exchange like Binance but just wanted to know if there are any other alternatives if there are any that can be compared with binance.??

The lending section of the forum has got some good and reputable lenders but it's up to them if they'll lend you or you've got some good collateral. Otherwise, if you're reputable, they might lend you without any collateral but it depends.

[Iranus]

I don't really know lending options and I also not interested with that, but if borrower not pay your money, what's gonna happen? do you get the collateral or Binance refund your coins?

Currently the second and third big exchanges are Bybit and Coinbase.

But, don't forget FTX was top 5 exchanges, so I don't think you should take a risk if Binance is the trusted CEX.

Not only FTX, we also have Mt.gox, one of the biggest exchanges in 2013. But to be fair, we can't assume that all exchanges will collapse or be equally bad. Coinbase was founded in 2012 and is still operating today, they even have a stock ticker and are listed on Wall Street. Meanwhile, Binance was founded in 2017, a latecomer compared to many other exchanges but has quickly risen to the top of the market and built a reputation. I hardly see anyone complaining about Binance.

I don't recommend us to store our coins on centralized exchanges but obviously we can't equate them all the same. I have never used FTX and don't understand how it can be the top exchange on the market.

[Hewlet]

It's hard to trust any other exchange than a reputed old exchange like Binance but just wanted to know if there are any other alternatives if there are any that can be compared with binance.??

are you considering the issue of trust when you're looking for a platform to lend from? the last time i checked, they should be the one censoring out potential borrowers that lacks trust history and that aren't reputable enough t be deserving of obtaining a loan.

it would have been a good option if you are in a signature campaign or have a good collateral that would have been of help while trying to obtain a loan at the lending board of the forum. that being said, i have never obtained a loan in any other crypto platforms including binance other than taking up a loan from shasan of which I paid off and had a swift experience with him. my alternative method of obtaining a loan has alway been through some mobile banking apps that requires less collateral and if such exist in your region, you could also give it a try.

[bitgolden]

Honestly it is not that easy to trust any place at all, specially when you are the borrower. In most cases, if you are not careful about it then you are going to end up with a lot much worse result eventually. I believe that we need to focus on just Binance, or not doing it at all if you are not really focusing at the moment. If they ended up with any good place eventually then it would be a lot better and we could do a lot more with what we are dealing with.

I hope that we could be considering this to be growing a lot better, so it wouldn't really be a great situation for people who use other places. But if you are talking about taking loan, then I would say the best place would be right here, there many reputed people are lending on this forum for very long time and you can trust them for a problem free lending option for your collateral with reasonable interest rates. Going for loan with right collateral is highly recommended and also you may choose escrow option for your collateral.

[Huppercase]

Hi,

What are the What are Best Trusted Lending options other than Binance you have come across in the crypto world...

It's hard to trust any other exchange than a reputed old exchange like Binance but just wanted to know if there are any other alternatives if there are any that can be compared with binance.??

You trusted Binance but you don't give into other similar exchanges. If not that you tested Binance, how would you have know they are to be trusted. You just need to give other ones some change because I don't see any difference between Binance, Bybit, OKX and kucoin, they are the same company that offer the same service but just different cost of operation services, the fee Binance might charge you for lending money might be smaller than others.

In addition, if you fear centralized lending platform, why not go for decentralized platforms like compound finance and other ones, you don't need to trust anyone or fear of losing your money. It's a protocol with smart contract to do conditional terms. As long as you have what it takes to borrow and lend, you can do it on own your own without the effort of anyone but don't forget about liquidation if you are borrowing, it's highly risky.

[N.O]

Hi,

What are the What are Best Trusted Lending options other than Binance you have come across in the crypto world...

It's hard to trust any other exchange than a reputed old exchange like Binance but just wanted to know if there are any other alternatives if there are any that can be compared with binance.??

You trusted Binance but you don't give into other similar exchanges. If not that you tested Binance, how would you have know they are to be trusted. You just need to give other ones some change because I don't see any difference between Binance, Bybit, OKX and kucoin, they are the same company that offer the same service but just different cost of operation services, the fee Binance might charge you for lending money might be smaller than others.

In addition, if you fear centralized lending platform, why not go for decentralized platforms like compound finance and other ones, you don't need to trust anyone or fear of losing your money. It's a protocol with smart contract to do conditional terms. As long as you have what it takes to borrow and lend, you can do it on own your own without the effort of anyone but don't forget about liquidation if you are borrowing, it's highly risky.

I think Binance is best app to take lend because we can take loan easily by that app. I used many exchanges but I like to use Binance . But every person has different point of view and he will take decisions by his own mind. Kucoin is also good exchange and that is trusted exchange and millions of people are using that exchange for the loan purpose. We can use our assets to get loan and we can invest that money in safe  coin which are present in the market for the years and we will get returns on that investment and then we can pay that loan easily which we took before.Loan taking can be dangerous if you have no knowledge of cryptocurrency and you have no knowledge of market because you can lose your money and you will be in trouble after losing that.

[Wapfika]

Hi,

What are the What are Best Trusted Lending options other than Binance you have come across in the crypto world...

It's hard to trust any other exchange than a reputed old exchange like Binance but just wanted to know if there are any other alternatives if there are any that can be compared with binance.??

Do you try DeFi lending app instead of using CEX which is prone to bank collapsing? Aave is the most popular decentralized lending which allow you lend or borrow in a decentralized way.

The only risk of this project when the security was exploited which is not happening since the project was launch.

You can try it here: https://app.aave.com/

FYI Aave is the top 1 lending crypto project.

[el kaka22]

Aave is definitely a great place to start earning from lending, it's not really that much of a big profit maker, but it's safe at least and the amount of money you could make from that changes based on how much risk you are willing to take as well. I believe the best way to move forward would be just focusing on how to make money based on what you can do with your money, and for that reason I believe we could use Aave to get a greater return since that's at least a place that will not steal your money.

FTX was terrible because you literally gave the right of your money to someone else, which in return they just bankrupted and that wasn't really a good thing, we can't give our money to someone else, we need to end up keeping it all to ourselves, and DEX lending does allow that, it's only between two people with collateral so you are doing fine at worst case.

[348Judah]

Hi,

What are the What are Best Trusted Lending options other than Binance you have come across in the crypto world...

It's hard to trust any other exchange than a reputed old exchange like Binance but just wanted to know if there are any other alternatives if there are any that can be compared with binance.??

Is lending even a service that is good for us to go for, maybe little do we know about the percentage on the interest rate being deducted from us after we have been offered the money, this people are making money already by doing all these services and their users will always be their source of making more money, we should not also forget that the use of centralized exchange is not completely perfect on us if we are considering for security and privacy, though we may achieve lending from them, but they are not still safe.

[Chandu141]

Hi,

What are the What are Best Trusted Lending options other than Binance you have come across in the crypto world...

It's hard to trust any other exchange than a reputed old exchange like Binance but just wanted to know if there are any other alternatives if there are any that can be compared with binance.??

Do you try DeFi lending app instead of using CEX which is prone to bank collapsing? Aave is the most popular decentralized lending which allow you lend or borrow in a decentralized way.

The only risk of this project when the security was exploited which is not happening since the project was launch.

You can try it here: https://app.aave.com/

FYI Aave is the top 1 lending crypto project.

Thanks for the reference, will look into it , although the trustpilot has full of scam accusations..

Aave is definitely a great place to start earning from lending, it's not really that much of a big profit maker, but it's safe at least and the amount of money you could make from that changes based on how much risk you are willing to take as well. I believe the best way to move forward would be just focusing on how to make money based on what you can do with your money, and for that reason I believe we could use Aave to get a greater return since that's at least a place that will not steal your money.

FTX was terrible because you literally gave the right of your money to someone else, which in return they just bankrupted and that wasn't really a good thing, we can't give our money to someone else, we need to end up keeping it all to ourselves, and DEX lending does allow that, it's only between two people with collateral so you are doing fine at worst case.

[NotATether]

Why would anyone want to lend their coins to an exchange? I'm guessing that this is not P2P lending at all but rather "give us your coins and we will pay you interest".

There are literally no protections for you if they happen to default, since most likely you waive them all away in the Terms of Service. Lending should be done your own terms, not theirs.

[Helena Yu]

The lending section of the forum has got some good and reputable lenders but it's up to them if they'll lend you or you've got some good collateral. Otherwise, if you're reputable, they might lend you without any collateral but it depends.

It seems that @OP is the one who want to lend the money instead of borrowing the money.

Why would anyone want to lend their coins to an exchange? I'm guessing that this is not P2P lending at all but rather "give us your coins and we will pay you interest".

Yeah I also think like that, I didn't found Binance offer P2P lending, instead they offer staking and launchpool.

Honestly it is not that easy to trust any place at all, specially when you are the borrower. In most cases, if you are not careful about it then you are going to end up with a lot much worse result eventually.

How the untrusted platform harm the borrower? the borrower take the money and they can run away if they ask a loan without collateral. I don't see anything that harm the borrower even the platform is scammy one.

[Chandu141]

Why would anyone want to lend their coins to an exchange? I'm guessing that this is not P2P lending at all but rather "give us your coins and we will pay you interest".

There are literally no protections for you if they happen to default, since most likely you waive them all away in the Terms of Service. Lending should be done your own terms, not theirs.

By keeping my funds in bc vault I got good rate of interest and I liked it actually. But then when I couldn't withdraw it in time but wait until approval or until the backend finish auditing for hours.

 I considered it's not right thing to keep in any casino or in exchange by knowing about the default exchanges from history.

The way we get interest from banks (deducting tax ) in crypto we don't need to pay tax which is good thing to lend crypto itself is what I thought but the point is there isn't any 100% safe lending platform in crypto world is bad news.

[Chandu141]

It seems that @OP is the one who want to lend the money instead of borrowing the money.

Yeah I also think like that, I didn't found Binance offer P2P lending, instead they offer staking and launchpool.

How the untrusted platform harm the borrower? the borrower take the money and they can run away if they ask a loan without collateral. I don't see anything that harm the borrower even the platform is scammy one.

Yes, I was looking to lend.

Did you tried Binance launchpool?

[bitebits]

Not your question, but maybe as an old timer: just don't. Bitcoin is yielding, in dollar terms, 50% per annum at a minimum. While you hold your own private keys. At a 5% yield, you expect the exchange to not mess things up for 20 years (!).

[Chandu141]

Not your question, but maybe as an old timer: just don't. Bitcoin is yielding, in dollar terms, 50% per annum at a minimum. While you hold your own private keys. At a 5% yield, you expect the exchange to not mess things up for 20 years (!).

Thanks , you are absolutely right. I should have thought like this. No more thoughts about lending. Only hodl hodl... 👍🏼