Lending
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@DougLife My coins that can be loaned are almost always on loans ....
So its technically worth it to loan then?
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@mathew Yeah, low risk passive income. You won't get rich, but I've earned about 1 BTC off loans.
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@haitch can I borrow 1btc to loan :-P
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@DougLife Sure, just send me 1.1 BTC as collateral.
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I just dropped it in the mailbox. Won't be picked up until tomorrow around noon and should be to you by Monday. We good? :-D
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@DougLife As soon as it arrives ........ ;-)
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So basically you are providing liquidity to the exchange for the margin traders. That's clever indeed :) Which of the exchanges provide better rates? Any comments on that?
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@vExact I've only done it on Polo, so can't comment on the other exchanges.
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@haitch the loans demand there come from people or from the exchange itself? Just courious
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@vExact From traders, not the exchange.
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Not sure if you're on Poloniex, but there's a tool out there for lending purposes: https://www.poloniexlendingbot.com/
It's helped me take advantage of the highest interest rates available
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@k.coins You can download this bot for free and not pay any fees for lending. https://github.com/Mikadily/poloniexlendingbot
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@rapidfireman omg you're friggin awesome! THANK YOU!
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@kcoins @rapidfireman I find this really cool indeed. I just watched the video on their website, however how much of our account info do we give away to those guys?
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@vExact The only thing that could matter to them is an api key but you can disable withdrawing with it.
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@rapidfireman yeah, they specified that in the video... I will probably give it a try. How long have you guys been using this for so far?
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@vExact I used it for a couple weeks, haven't done any loaning for a while though so I don't know what has changed.
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@haitch wow how you do this on poloniex?
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@qibucks Go into Balances -> Transfer Balances, transfer from Exchange to Lending. Then go into Lending, select the coin you want to lend, then select the amount you want to lend, duration (minimum 2 days) and whether to auto-renew the loan. Then submit. Note not all coins can be loaned - Burst for example can't be loaned.
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@qibucks watch this video from them
