Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[Micheal joe]

Everyone by now knows what Bitcoin is and has some understanding of how it works. Over the last few years, Bitcoins and other forms of electronic cryptocurrency have grown in popularity. I do believe this has to do with the fact that cryptocurrency carries the same value worldwide. Furthermore, because of how this system is structured it allows peer-to-peer transactions between users without the need for a centralized authority. All you need is a Blockchain to transfer the currency from one user to another.

Can You Take Out a Bitcoin Loan?

Yes, you can. It is a bit easier to get a loan for Bitcoins that it is to get a bank loan. That is because the currency is decentralized and doesn't pose any government regulations.

You would be borrowing from other Bitcoin holders. You will need to use a Peer-to-Peer lending platform to apply for a Bitcoin loan. These types of platforms won't check your credit and have their own rules for the lending of cryptocurrency. You will need to find out some documents and submit them to the lending platform. They will review the documents and give you a trust score.

How To Borrow Bitcoins

This is a 4-step process:

• Register with the lending platform.
• Have your KYC done.
• Decide on how long you need the loan and how much you require.
• After this has been completed and authorized the coins will be deposited into your wallet.

What Types of Documents Do You Need?

• You must supply a valid government ID to prove who you are.
• They want details of your PayPal account.
• Like banks, they will require proof of your income and the details.
• With Bitcoin lending, they will need to verify your social media profile.
• They will ask for email and a credit card verification from you.
• Here they ask you for a personal reference.

How Can You Make Money Loaning Your Bitcoins?

BTCPOP.co is the first Bitcoin shared loan companies online. They will make loans to entrepreneurs or even new companies. You can take out a loan for 0.01 to 500 BTC. However, they also offer a person who is looking to earn more money from their Bitcoins a way to earn 5% if they deposit their coins with this company and allow them to hold onto your coins.

This company could be considered a Bitcoin Bank where you can make a deposit to your account, allows the company access of your coins, and in return, they will pay you 5% interest on your coins.

If you decide to go this way here is what you can earn or expect from this company:

• The person who borrows the cryptocurrency is charged a 25% APR interest that uses the average daily balance method to calculate.
• The lender will take 60% of all interest.
• The interest charges are applied to the borrower's account on a monthly basis.
• As a lender, you'll receive your payment when the borrower pays his monthly account.
• In the end, you'll receive 15% APR for using your cryptocurrencies and enabling this company to loan out your currency to people who want to make a loan.

Now, this sounds like a safe way to earn 15% APR on the money that you deposit with this company. They are actually borrowing your money and paying it back on a monthly basis with a 15% APR. The more the company borrows from you to lend to another person, the more you can earn by leaving your currency in the bank with this company.

Has anyone ever tried to deposit their cryptocurrency with a lending company so they can earn a 15% APR for allowing this company to use your currency?

 

[liah33]

Why you send lend money to others if you can invest your money and make profit from your investment and earn descent amount of money? You can try bitconnect i think thats legit and paying with a stable investment program for everyone

 

[tusziget]

Why you send lend money to others if you can invest your money and make profit from your investment and earn descent amount of money? You can try bitconnect i think thats legit and paying with a stable investment program for everyone

I think,that lending Bitcoin and investing your Bitcoins in some sites,it is the same thing:both are risky.Better is to invest your Bitcoins in the "future":simply collect Bitcoins from every possible sites,keep them in your wallet.In the future this will turn out as a good investment plan.

 

[Yugocean]

Earning some amount and then adding to market would be better. lets say we earn 0.005 BTC, we need transection to a marchent account, there we can buy and sell anything in and via BTC. I checked amazonbitcoin[.]com and it is available in India too. This is something better, we can use our earned BTC in real world through this and make money.

 

[hi-phile]

Instead of Lending, there's other options, you can use a trading bot. It's similar to lending, but you're not locked into any time period, you can actually withdraw your investment at anytime. The higher the investment and longer you keep your investment working with the trading bot, the better your return. You get paid out hourly if you choose to, and can make 2 percent return. I think it is better than lending with BitConnect and it's actually a real trading bot where the developer is actively working on the software.

Yes, I do have active investments in my referral links.

 

[tusziget]

Instead of Lending, there's other options, you can use a trading bot. It's similar to lending, but you're not locked into any time period, you can actually withdraw your investment at anytime. The higher the investment and longer you keep your investment working with the trading bot, the better your return. You get paid out hourly if you choose to, and can make 2 percent return. I think it is better than lending with BitConnect and it's actually a real trading bot where the developer is actively working on the software.

Yes, I do have active investments in my referral links.

I didn't hear about trading bot till now.I don't know how safe it is to use one...If you invest your Bitcoins,what is the guarantee,that you will receive any return on it?Once the amount of satoshis is invested on a site,there is not a guarantee,that you will receive a part or the whole sum back with a profit from that iste.

 

[hi-phile]

I didn't hear about trading bot till now.I don't know how safe it is to use one...If you invest your Bitcoins,what is the guarantee,that you will receive any return on it?Once the amount of satoshis is invested on a site,there is not a guarantee,that you will receive a part or the whole sum back with a profit from that iste.

It's a new trading bot platform that came out in October of this year, it's been paying out the users consistently. No one there is unhappy yet (because we don't know how long the system will be up). Agreed, there's no guarantee on where you are investing BitCoin, money. I don't think any investment carries any guarantee, that's why any investment carries risk. If any site claims they guarantee you will earn X% amount and I would be very skeptical until proven otherwise. If you don't want to risk anything, why not go there, sign up and try the free faucet and look around ask questions (which is welcomed) in the Community part of the website. You can withdraw from the site anytime, no restriction or time waiting, but there is a 7% fee on your investment withdraw.

Yes, I do have active investments in my referral links.

 

[asumi]

I suggest you that don't ever lend your money to such sites. These sites will scam you sooner or later. That's what they do. When they get a lot of deposits they scam you.

I agree Lending online , is like lending too Strangers! i think you can lend it to someone, if thier have a Collateral!

 

[Holdings]

Lending bitcoin with the hope of making your own profit is nice but the question is how reliable and trustworthy are the sites you wanna lend out to? Who do you hold responsible if they eventually turned out to be scam?

 

[Feret]

Lending money is never the smart choice. And lending your Bitcoin is the worst decision that you can make. What will be the guarantee that the person or company will return your Bitcoin at the same rate that you gave them to? Think before making any decisions.

 

[Brain]

Investing online has never be my thing because of various scam stories. It seems for every 100 investment sites only about 5% is legit. I will prefer this kind of lending offline not online.