Quote from: Crypto Library on Today at 07:49:54 AM

Quote from: Collateralbank on August 22, 2023, 10:40:54 AM

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 !

Your account is Newbie and on the other hand you already tagged red. so no one will Trust you and give you any collateral for taking any loan from you but if you want to give a no collateral loan then this is not any problem. you can start your business. But remember that some users are offering loans here from a long ago and they are members with very high rank and they are lending money at very low interest rates. Many take loans from them because they are already very trusted in this forum and they have a great reputation. so people will be interested in taking loans from you if you have to offer them at a lower interest rate

Very true indeed as no one would ever trust such user with collateral due to the red tags and the newbie account rank of the user. Well, I agree that the user can offer no collateral loans and many members may take advantage of those loans but newbies often make mistakes when they offer no collateral loan services because there are many scammers in lending boards who always try to trap the lenders and those newbie lenders often be prey of the scammers. I have seen a newbie who gave non-collateral loan to another newbie but the other party left the forum and took away the money. I have also seen a reputed member who gave loan to a newbie and he/she also didn't got the money back.

If you really want to offer loans on this forum then you should first gain some trust from the reputed members of the forum which isn't going to happen because your account is already tagged. And, I must warn you that if you're thinking about offering non-collateral loans then only give loans to the users who are trusted and are active high rank members of the forum. Lending is very risky on this forum and if you do it without proper preparation then only you will be responsible for the losses that you face.

I also agree that there are well reputed members of the forum who have been offering non-collateral loans to the members who are active on this forum and are selected in a signature campaigns. But, I must say that those lenders have also faced some losses by offering those lending services. Sometimes we really don't know that who's going to repay us and who's not not going to repay, and that's why we tend to face losses by giving loans to the ones who won't pay us back. I should say once again that lending is highly risky on this forum and if someone is offering non-collateral loans then that thing is even more risky.