Bitrue Loans have finally arrived!

[Guest]

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Our new loan product offers LTV ratios of up to 70% and lets you hold on to your coins while freeing up their value for other projects. Check out all the details on our blog post here

 

 

https://medium.com/@bitrue/bitrue-loans-launches-tomorrow-bfbfdaabd0b4 

 

https://www.bitrue.com/loan/

 

 

 

 

[Guest]

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a risk free method of generating up to 10.3% yearly interest on the coins they invest.

There is no free money without any risk.

[Guest]

1 hour ago, baggy23 said:

There is no free money without any risk.

Sure there is. Power Piggy! 

[Guest]

5 minutes ago, T800 said:

Sure there is. Power Piggy! 

I am sorry but this sounds so shady...They call this Power Piggy?

[Guest]

5 minutes ago, baggy23 said:

I am sorry but this sounds so shady...They call this Power Piggy?

That's right. Power Piggy! 

https://www.bitrue.com/powerpiggy/xrp?pgid=2 

https://www.bitrue.com/powerpiggy/

 

Bitrue also now do loans.

As an XRP focused exchange they are killing it. 

 

[Guest]

1 hour ago, baggy23 said:

There is no free money without any risk.

i'd rather park my money in casinocoin  

[XRP-JAG]

I’m struggling to see who the target market is here? People trying to FOMO in today, who don’t have funds a available until some point in the future.

[XRPboi]

2 hours ago, XRP-JAG said:

I’m struggling to see who the target market is here? People trying to FOMO in today, who don’t have funds a available until some point in the future.

I agree. Can someone explain how/when (or to whom) this kind of lending may be beneficial?

[Sharkey]

4 hours ago, zerpdigger said:

i'd rather park my money in casinocoin  

Who says you must choose one or the other?  

[aavkk]

And yet 7 weeks after they said “within 1 month” IOTA isn’t yet listed.  When I inquired a week ago when they simply said they would let the user know in advance and to stay tuned.  Disappointed.  In fairness my XRP and VET transactions with them have been great and I like their security.  

[xrpzilla]

7 hours ago, XRPboi said:

I agree. Can someone explain how/when (or to whom) this kind of lending may be beneficial?

If you are sincerely interested in the reasoning behind their target audience’s decision to use their services, look at similar real world counterparts as an example... one example, the ability for landlords/homeowners to take a loan out on their home’s equity.

[XRPboi]

1 hour ago, xrpzilla said:

If you are sincerely interested in the reasoning behind their target audience’s decision to use their services, look at similar real world counterparts as an example... one example, the ability for landlords/homeowners to take a loan out on their home’s equity.

Yes, but real estate isn't anywhere near as volatile - it typically doesn't lose value in short time frames. And in this example, HELOC's are sometimes for emergency money, but also sometimes for home improvements (increasing the overall value of the underlying asset you are borrowing against). 

Why wouldn't someone just take out a loan against there pledges assets, and buy more of that (or other) coins with the loan? 

Most importantly, aren't you typically required to show proof of income when acquiring a loan against your home (or a refinance of a home? Your ability to repay the loan typically plays a large factor on whether or not you are extended the credit. Because in many of the instances where a borrower cannot repay consistently, their pledges asset/property is forfeited to the other party. 

What am I missing? 

[Sharkey]

It seems to me that crypto loans will be more and more commonly offered.  Agree that there are much greater risk, than there are with conventional bank loans, and there will certainly be bad actors, but how does "peer lending" work?  My guess is that the exchanges would follow a similar process whereby the terms of the loan, including the interest rates, would be based on some measures of lending risk, or maybe they actually use your holdings as collateral.  But I do believe that there will be "customers," as there always are when money is involved. 

Edited October 1, 2019 by Sharkey

[Guest]

22 hours ago, Sharkey said:

Who says you must choose one or the other?  

or neither!  

[Guest]