Thanks for the tips. What sort of rates can you expect to earn? Also, is interest paid in USD? It looks like you convert btc to dollars before lending? In this case you are also betting on btc/ USD exchange rate.
RE: Loan money to Traders for Passive Income on BFX exchange.
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Loan money to Traders for Passive Income on BFX exchange.
i saw rates from up to 1% per day. Every full hour counts. But its also a risk, last summer all btc got stolen from finex
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@grizgal Rates varies on demand, I've seen rates for USD upto 0.2% per day and crypto rates around 0.03% per day. Ratesare paid in the currency you are lending. If you are lending BTC, then you get paid in BTC, if you are lending in USD then you get paid in USD etc.. There is no need to convert to any particular currency to lend. Lend in what ever currency available.
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have you tried it marcus? Can you get your money back using the market at any time?
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Hi @blockchainttmft Yes I have tried it and you get principal and interest back. I don't have much there because it is an exchange I had about USD300 before and was getting a return of approx USD1.2 every 2 days. It depends on the prevailing rates. You can set the number of days in which you want loan out from a min of 2 days to 30 days I think. I normally do 2 days so I can compound every 2 days.
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Thanks for the details. I'll take a look.
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Interest is paid in crypto you are offer. if you offer BTC you get paid your interest in BTC. Rates are per day. BTC is currently ~0.019% a day (~6.93%). Most of the smaller altcoins are on offer for 0.0001% a day
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