I saw lending service also. Its like giving someone 100$ for one month n getting 110$ in return. How secure is that service for me (I mean its SCAM FREE)? Lastly, how to get started with this.
Borrower requests loan from lender. Lender specify the interest rates and terms, with collateral requirement upfront. Borrower agrees, and sends over the collateral (default between 110 - 120% loan value). Lender receives collateral, sends over loan to borrower.
Everything goes smoothly, borrower returns funds borrowed. Lender then returns the collateral.