How can i verify most Simple and effective way my collateral loan service here ?
Im new here i Understood nobody dont trust so Im asking what i have to do to be legit lender here ?
Can this way it works If i put funds on escrow here If i mess around or scam or something i'll lose my funds.
Or Any other ways ? Thanks !
What kind of terms is this
General terms for lending
You get loan 50% from the total Market value of your asset and with monthly 10% intrsest. Your asset Will be taken from you If your intrests exeeds the borrowed ammount then you must add more asset or pay off some of your debt.
Loan ammount 100$ your Asset btc value 200$ so you pay 10$ monthly so your Asset Will be liqutated in 10 months not 10%x10=100$
You're only giving 50% of the value of the collateral, with a huge 10% interest monthly only desperate people will take this, tell us why would anyone trust you with the 50% value of their collateral?
I used to take a loan from our local board but not so exorbitant interest like you offer.
You are not setting up a loan business here you are attempting to scam people and victimize them with your terms.