What do you think of collateralized crypto loans?

[Brushless4500KV 4214]

This seems like a scam project. Their goal is not to give loans, they only want to lock people's crypto to force them to pay extra money. The legit process of receiving loans is to receive a certain amount of money by sending your documents and then you will give it back with some interest. You don't have to pay more than what you want to borrow, to receive a lower amount as loan. This is not reasonable. How can you trust them to pay back your $1000? They may be legit and pays you the loan but giving $1000 to receive $500 is not worth it because after that your balance is minus $500! You borrow loans to increase your investment not to decrease it!

Edited December 22, 2019 by Brushless4500KV

[Jeet Narayan 1940]

Yes nexo and bankers are providing us coins loan for holding Crypto and use. I think this kind of loan help a lot but we have to earn more coins from this coin use. 

[Sumayya 493]

On 12/14/2019 at 8:58 PM, bliznec said:

I think that today you should not take loans, and even more so if you give them in cash. I never took loans in cryptocurrency.

Loan are not good, even if it is to invest it in crypto which is even more risky with a lot of percentage

[fatima123 320]

On 10/5/2019 at 9:54 PM, CryptoMaster said:

I've been following some projects enabling users to require loans against their crypto holdings. A couple of them are NEXO and Bankera, also BTCpop is a BTC lending service existing since many years. What I find useless in these services, is that you have to double the amount you need to borrow, but to get it back you need to repay the loan with fresh money. Wouldn't it be easier if I could repay the loan + interests straight from the collateral? What are your thoughts?

btc lending for interest and borrowed with interest nice idea I think lending is better then borrowed because we know price one day will go to the sky so lend your btc in some relable companies. 

[TasinHasan 421]

you can't take risk 1000$ for your 400$ loan because you haven't idea site will servive or not.

nexo is good platform but be careful before using these site

[el-Muhammady 718]

On 12/13/2019 at 5:53 PM, littledi059 said:

It is a service for people who don't have any other hope. For example banks don't give them money and also it is a new instrument for trader

 

On 12/14/2019 at 8:12 AM, febriyana said:

That is normal condition where you need a loan you give your crypto as collateral. Not all coin is accepted, they will take some from top coin.

For me the loan is really high interest. I ever see in Bitcointalk the interest is 1% per day. Oh my god if i using my loan for business i will bankrupt in one day. For using it in trading that is crazy... you maybe lose because the price coin you trading going down. So what the purpose take a loan with high interest also short time. For purchasing goods or something i think not profitable.

I also not interested loan in Nexo and other sites, need lock our crypto to get crypto no sense.

 These in fact makes allot of discern if you be of the opinion robust that the meaning of your coins is obtainable to appreciate, consequently the collateralized coins are open and snobbish for you all the same at a prize
 

[Amirul Islam 382]

On 10/5/2019 at 10:54 PM, CryptoMaster said:

I've been following some projects enabling users to require loans against their crypto holdings. A couple of them are NEXO and Bankera, also BTCpop is a BTC lending service existing since many years. What I find useless in these services, is that you have to double the amount you need to borrow, but to get it back you need to repay the loan with fresh money. Wouldn't it be easier if I could repay the loan + interests straight from the collateral? What are your thoughts?

Many other projects also here in the market. Moneytoken is one of them. Recently it make hyip situation in the market. Many people invest on it and take profit from it's ICO.

[Lubruselu 2803]

I don't thinks that's if it is profitable to take a loan and you give them the collateral two times of what's you get, so why don't you use your collateral and you take the loan?

[Delgboke 2480]

Cryptocurrency lending platform is actually good way to get financial loan but I don't support the idea of using all my crypto asset to get loan from any cryptocurrency platforms but how possible that you will get your fund back. 

[Syedbesharat 5423]

On 10/5/2019 at 9:54 PM, CryptoMaster said:

I've been following some projects enabling users to require loans against their crypto holdings. A couple of them are NEXO and Bankera, also BTCpop is a BTC lending service existing since many years. What I find useless in these services, is that you have to double the amount you need to borrow, but to get it back you need to repay the loan with fresh money. Wouldn't it be easier if I could repay the loan + interests straight from the collateral? What are your thoughts?

This is not good deal.We have to deposit more BTC and get only half money.It is good we have the direct method we have to deposit $500 BTC worth to get $500 and i repay with some interest.

[bentayebsalah 2280]

Yes, I heard about that, but I do not like to use any type of loan and this is to not put myself in debt and future problems

[Opinder 1310]

On 10/5/2019 at 10:24 PM, CryptoMaster said:

I've been following some projects enabling users to require loans against their crypto holdings. A couple of them are NEXO and Bankera, also BTCpop is a BTC lending service existing since many years. What I find useless in these services, is that you have to double the amount you need to borrow, but to get it back you need to repay the loan with fresh money. Wouldn't it be easier if I could repay the loan + interests straight from the collateral? What are your thoughts?

It is difficult to repay loan with fresh money instead of money given as security of loan. Sometime person could not arrange fresh money so I do not think we should go for collateral loans. Even if project is scam then you would face double loss.

[Thekingcallme 1975]

I took several loans but it wasn't a good experience for me and I lost a lot as loan compensation through cryptocurrencies

[Raouf99 73]

20 hours ago, Sofiya siya said:

I've been following some projects enabling users to require loans against their crypto holdings. A couple of them are NEXO and Bankera, also BTCpop is a BTC lending service existing since many years. What I find useless in these services, is that you have to double the amount you need to borrow, but to get it back you need to repay the loan with fresh money. Wouldn't it be easier if I could repay the loan + interests straight from the collateral? What are your thoughts?

NEXO is giving us loans but these are too much heavy interests  and I do bot like this.

[Mwangi 5611]

I think also nexo beats them all but if you follow to many other projects there are so many people who would fit this bill perfectly thats why its important to follow a new strategy and keep everything the right track , put everything into perspective and yobit should also introduce the same.

[Akasshh 234]

A collateralized loan is a type of borrowing where a client stakes an asset against the funds they are receiving once the loan is paid off ,clients get their crypto back along with all the potential increases in value that occurred over the durations of the loan.for example- Secured credit cards,A cash deposit is used as collateral for secured credit cards.

[Rickso 768]

On 10/5/2019 at 6:54 PM, CryptoMaster said:

I've been following some projects enabling users to require loans against their crypto holdings. A couple of them are NEXO and Bankera, also BTCpop is a BTC lending service existing since many years. What I find useless in these services, is that you have to double the amount you need to borrow, but to get it back you need to repay the loan with fresh money. Wouldn't it be easier if I could repay the loan + interests straight from the collateral? What are your thoughts?

loan with crypto is completely busted in my opinion since you are locking money to get money, i mean i understand why people do that (for example you need cash but a the same time you want to keep that crypto coins, so you so this) but like you i don't like this because you need 3 times the amount you want to do that

[Romaan1987 601]

On 10/5/2019 at 9:54 PM, CryptoMaster said:

I've been following some projects enabling users to require loans against their crypto holdings. A couple of them are NEXO and Bankera, also BTCpop is a BTC lending service existing since many years. What I find useless in these services, is that you have to double the amount you need to borrow, but to get it back you need to repay the loan with fresh money. Wouldn't it be easier if I could repay the loan + interests straight from the collateral? What are your thoughts?

I have joined the ico of bankera it was totally a useless and garbage service. If it have some important features it should have good prices of its token. These are totally shit projects instead binance lending system is the best or cred is also good for lending crypto.

[silvergain 271]

Regarding crypto digital assets collateralize crypto loans are good to me, if you are a smart trader and you have good knowledge and experience about price movement on the market but lack the necessary crypto assets, those crypto loaners can be of a great help and the collateral is good if some bad things happen due to high volatility of price action

[khan22 3478]

On 10/5/2019 at 11:39 PM, CryptoMaster said:

I'm not joking, for example the most used one is NEXO platform, https://platform.nexo.io where you can ask instant loans by locking cryptos as collateral. That's just for BTC and ETH, for istance if you lock 1000$ worth of XRP or LTC you can ask up to 300 or 400$ 😂 Then you have 2 years to repay those money and (maybe) you will get your initial 1000$ back LOL

I think that if we have 1000$ than we need to trade on that becasue now this time market is moving in just a single level and i hope so that we make good money through trading in the market and we can also double our trading account through trading in crypto market.

[Ayush Singh 1175]

As a user it will be difficult to say that if the project will succeed or not but yes I have also seen many user who are trying for loans to invest in cryptocurrency so admin can take a chance in it and if it's succeed then it will be a great success for the cryptocurrency.

[Calvinpriva 17296]

Sometimes you have to take those loans for a reason, but its not that good because if it will be your habit then you can not be success in crypto and even normal business. You can give up many things because you believe there is a loan that can help you.. Take it if you have a big problem or a profitable project.

[PiroSense 2681]

On 10/23/2019 at 12:06 AM, CryptoMaster said:

For small fishes the sevice is indeed useless!

But for whales, they also need to be cautious in using these platforms. Transactions in the ledger are irreversible, and locking your coins on what you think is a 'trusted' company's coin address could either lead to a breeze or a disaster.

 

Once these coins are sent, there's no turning back. That lending platform could either split the coins and go exile forever, and you stuck with half a million worth of fiat in your original coins, in which even if you're a whale, it's quite a deduction to your assets.

[BTC Future 3946]

On 10/5/2019 at 7:54 PM, CryptoMaster said:

I've been following some projects enabling users to require loans against their crypto holdings. A couple of them are NEXO and Bankera, also BTCpop is a BTC lending service existing since many years. What I find useless in these services, is that you have to double the amount you need to borrow, but to get it back you need to repay the loan with fresh money. Wouldn't it be easier if I could repay the loan + interests straight from the collateral? What are your thoughts?

If you just repaid using the collateral that would mean unwanted extra work and cost for them. That's the reason every loaner wants cash and won't loan you again if you default on your terms at any point. This is also the reason the banks and other lending companies have credit scores. 

[Sabba092 115]

11 hours ago, Precious20 said:

There are four members of my family. Three out of four of us make use of cryptocurrency, and we fondness liability cryptocurrency transactions, and through I'm sorry? we earn, every one of three of us in the family are trading.
 

I have not got these loans because I want to get loans but I have no any Collateral. So I have not get benefitted.