Post
Topic
Board Project Development
Re: 💹 Coinlend.org - The lending bot for Poloniex and Bitfinex
by
flash10101
on 07/09/2018, 19:53:01 UTC
I see rates on your site for Ripple 742% and Doge 582%.
Is that how much return I would get? What is the duration of that rate?
Why are the rates so high on your site?
Right now on Poloniex the rate to borrow BTC is about 0.007% a day which is only about 2.5% a year.
And if the price of bitcoin drops then you could easily end up losing money.
I don't get how you would make very much money lending. What is the strategy?

The duration of the loans varies from 2 days - 60 days. Most lenders are long-term holder and don't care about the short-term price swings too much.