Hi,
So something I've been thinking about is lending Bitcoin. For me to conduct trades over Bitcoin Talk, I usually ask the other party pays first (which usually means the trades fall through).
- Is it actually profitable?
- Will I get scammed to death?
Cheers.
First bullet: Yes, if you executed it perfectly and flawlessly. You can ask for 10% as the minimum interest rate for any loan and depending on how long will the loan term be.
Second bullet: Also yes, if you don't know how to sales talk the borrower. You must impose your own rules, and your rules should matter, not the borrower's. Always ask for a valid collateral when giving a loan. In that way in case the borrower defaults, you can take back what's lost in you and you can go on without accepting any losses.