Hi guys, as many of you as I also would like to "do" something with my crypto funds that I held in my crypto wallet. For a few months, I still think if crypto loans really work and there is a very very low risk of losing my funds. I would like to borrow lend my cryptocurrencies with an interest. Blockfi offers up to 8.5% interest p.a. and there are more competitors, but would you 100% trust them? Earning few percent per year vs. losing the big amount of cryptocurrencies fund?
Trusting people with cryptocurrency is very risky. There is nothing you can do if someone cheats on you.Because you don't know them and just trust them.But it can be borrowed if you know a person or team.Even then I think it is not right to give someone a loan in cryptocurrency.Because why be an enemy of people by giving your cash to people.It is better not to be an enemy than to be an enemy.
That's right, it's very risky and makes you helpless to influence the situation if you lend your cryptocurrency to someone. It is easy to give, but it is not easy to return what is given. I'm guessing you can lend cryptocurrency to people you know and trust, but it's best if you document the deal and the terms of the deal. Moreover, legally, so that there is an opportunity to influence the fulfillment of obligations.
The desire for more and more has no limits. OP, cryptocurrency so allow you to make a profit. Is this not enough for you? Well then, be prepared to bear double risks if you lend them.
Those of us who trade in cryptocurrencies know that there are some risks involved in trading in crypto currencies. But I don't think lending cryptocurrency is right. If you want to lend the maximum you can help him is through cash. And can give maximum cooperation about crypto currency. And if you lend him crypto currency then you have to take a lot of risk to lend to you but in the end the result will not be very good.