Post
Topic
Board Altcoin Discussion
Re: Would you lend in cryptocurrency?
by
wxa7115
on 16/10/2019, 19:18:30 UTC
Would you give a loan to borrowers in cryptocurrency?

If yes, in which cryptocurrency:
- Bitcoin
- Ethereum
- Stablecoin (please tell us in which)
- Libra
- Maxit (https://maxicreditcompany.com/whitepaper.pdf)
- Other (please tell us in which)


I wont, there have been several attempts in the past to create a platform where users could give loans to each other and those platforms failed and this was because scammers will use the anonymity that cryptocurrencies bring to their advantage and when you add that once you send your coins to a wallet you do not control them and  you cannot get those coins back then it becomes even more dangerous to lend cryptocurrencies.

Just take a look at the lending section of the forum and you will see that most of those willing to lend their coins need collateral and charge high interests to try to offset the risks they are incurring by their lending practice.