Grow your money on Poloniex - How to lend out your coins

Before we begin the tutorial on lending, the general rule of keeping your coins safe still applies. However, the disadvantage of keeping it in cold storage is that it doesn't generate money besides price appreciation. You can consider another option which is to lend some of your coins to traders on Poloniex WHILE enjoying price appreciation if any. Do note that you need to have the coins on your Poloniex's account to lend them out.

Lending rates
Let's start with this as lending rates are the main factor why one would want to keep their coins on Poloniex and lend them out.

Lending rates depends on supply and demand. It can fluctuate and swing widely. It can be very low but it can also be very high. Even higher than the rates of loan sharks!

Here are some of the spot rates at the moment:

Coin	Rates
Bticoin	0.1595%
BTS	0.0001%
CLAM	1.2997%
DASH	0.0587%
ETH	0.0029%
XRP	0.0096%

As you can see from the table above, rates also vary widely between coins. Dash previously had a rate of 0.88% when the demand was high. Clam had low rates previously but because it is in demand now, it is at super loan shark rates!

Huh, the rates are so LOW???!!!??!? Before you stomp away upset, do note that the rates are quoted PER DAY (24 hours) and not per year!! For example, if you loan out CLAM for 1%, you will get 1% of clams after 24 hours! In the unlikely event that you can lend out for a whole year, the returns will be 365 days x 1% = 365% return!!!! However, as you will see later, it is almost impossible to loan out for long periods unless you are very very VERY lucky.

The interest generated are the same coins you loaned out. If you loan out CLAMS, you will get CLAMS for interest.

Another thing to know is that the interest starts calculating the moment the loan is taken up. The site updates the active loan every 20-30 seconds and you can see interest being generated. So even if your loan was taken up for only 5 minutes, you will already get some interest although it would be negligible.

Note : I guess it goes without saying that you would need a significant amount of coins and a good lending rate to make lending worthwhile. From observation, it seems bitcoin has a consistent demand with relatively good rates. You just have to calculate the returns for yourself to see whether it is worth your while or not.

Loan duration

Ok, here comes the reason why you won't be getting rich by getting a 365% return.

When you offer your loan, you will need to specify the rate, amount and duration. Default duration is 2 days and the range is 2 - 60 days.

If you lent out for 2 days and the loan is taken up, it doesn't mean that it will be loaned out for 2 days. It can sometimes be returned in a few hours or even a few seconds! This is the main disadvantage of lending, where you need to manually check to see whether your loan is running.

There is a lending bot that can automatically set up loans for you but it is 3rd-party where you would have to give it access to Poloniex to run the loans. I don't recommend it so this guide won't cover lending bots.

Lending risk
As with any loan, there are risk to lending. You can't be going about spraying red paint when your loan is not returned.

I'm not entirely sure what the risks are or how high the risk is. I have asked this in Poloniex and they say that the risk is minimal because they have certain safeguards. For one, the coins you loaned out cannot be transferred out of Poloniex. Even if you loaned out 1 BTC and the price of BTC crashes, it is still one BTC that will be returned to you!

So, lend at your own risk and don't throw red paint at my house if something happens!


Poloniex lending facility

Ok, let's get down to actual lending out your coins. I only have experience with Poloniex so we will only cover Poloniex.

On Poloniex, you'll notice 3 sections/tabs - Exchange, Margin and Lending.



Click on the Lending tab to go to the lending page.

A word of advice : Don't ever go to the margin tab. Very risky to play margin trades.

This is what you will see on the lending page.



1) My Balances
- This is where you can view your balances across all 3 facilities - Exchange, Margin and lending
- It only shows the available amount of coins. If you have open orders or coins under loan, it will not be shown in the total.
- You can also see the type of coins you can loan out. At the moment, only 12 coins can be loaned out.
- From here, you can select the coin you want to loan out.

2) Quick transfer
- This is a quick feature to transfer your coins between the 3 facilities
- In order for you to loan out your coins, you have to first transfer the coins from Exchange (that's where your coins probably are at the start)
- If you don't transfer any coins to lending, you won't be able to loan out anything.
- Likewise, if you finish lending and want to sell off the coins, you would have to transfer them from lending back to exchange

3) Loan
- This is where you offer your loan
- You have to enter the rate, amount and duration of loan
- "Auto-renew" is if you want the loan to be listed again once the loan is given back. It is actually not a useful feature as loan rates seldom stay at the same rate for long.
- Once you have set your loan parameters, you can click the "Offer loan" button and it will be displayed in the "Loan Offers" table.

4) Loan offers
- This is where all loans are being offered
- If you want your loans to be taken up fast, you would have to set a lower rate. Basically competing with each other to loan out the coins.

5) Loan demands
- This is where all loans are requested
- If you don't want to wait, you can just offer at the requested rate and it will straight away match
- Loan demand rates are usually much much lower then ongoing rates

6) My open loan offers
- You can see your open loans here i.e. loans that you have offered by not yet loan out

7) My active loans
- Here's where you can see the loans that are taken up
- If you see the first line, I have loaned out XRP at a rate of 0.0097% with an amount of 2221.2508. Duration is 2 days with auto-renew turned on. Up to that time, the interest is 0.00034912 XRP.

That's it! You are now ready to put up your loan!

Loan history/records
This is how you can see your loan history.

Under "Orders" tab, select "My trade history & Analysis".



This will bring you to the following page.



From here, you have two options (as indicated in the picture):
1) Download the excel file containing all your loan records
- easier to use this feature as you can sort out your loans and sum it up in excel

2) Show your "Loan earnings"
- Will show you all your loans in a table
- This is not easy to see as you can't sort it out. I already have 29 pages of loan history!!!
- The easier way is to select the coin you want to analyse then click the analyze button.

Take a look at my analyzed loan earnings of CLAMS. It shows that I have earned 49.7 CLAMS with fees in total. Fees are 15% so you can roughly calculate your net profit by subtracting 15% from the total.



Note : This is the place where you can see your trade history too.

Lastly, do remember that lending is not without risk but I think the risk is negligible. Again, if you lose your money, don't blame me!

Happy lending like the loan shark that you are!!!!

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Cryptocurrency market capitalization

1) http://coinmarketcap.com/
- Good place to see overall cryptocurrency market cap and each individual coin market cap.

Cryptocurrency news

1) Coindesk
2) Bitcoin news
3) Cryptocoin news
4) Cryptonews
5) Coin Journal
6) The Merkle - Crypto news
7) Bitcoinist
8) CoinFox
9) Coin News Asia
10) Finance magnates

Forums

1) Bitcoin (and altcoin) forum

Important or potential coins

Note : My opinion only.


Ethereum
One of the coins that will probably become popular soon

1) Ethereum homepage
- learn all about ethereum and the projects built on the platform

2) /r/Ethereum
- Fundamental news related to Ethereum ecosystem. Core developers conduct meetings on the first and third Fridays of each month so users can view the entire conversation or read the transcripts provided.

3) /r/ethtrader
- Price related discussion and future movements.
there's this weekly newsletter that summarizes all the Ethereum related events for your viewing pleasure.

4) Week in Ethereum


Blockchain-based Decentralized storage
1) https://www.smithandcrown.com/distributed-c...-cloud-storage/
2) https://themerkle.com/maidsafe-vs-sia-vs-storj/

Siacoin
1) http://sia.tech/
2) https://forum.sia.tech/
3) Good news! https://cointelegraph.com/news/sia-integrat...ralized-backend
4) https://nextcloud.com/blog/introducing-clou...-and-nextcloud/
5) MLG capital review : https://capital.mlgblockchain.com/sia-tech-profile.html
6) Host profit maximization thread : http://forum.sia.tech/topic/1037/host-prof...mization-thread

Ripple (XRP)

1) https://ripple.com/
2) https://www.xrpchat.com/
3) Good read on ripple (and bitcoin and ETH) : https://www.linkedin.com/pulse/internationa...nna?published=t
4) https://www.forbes.com/sites/madhvimavadiya...e/#6a35c05a79f1
5) http://www.businesswire.com/news/home/2017...ons-Join-Ripple
6) https://ripple.com/insights/q1-2017-xrp-markets-report/
7) https://www.cryptocoinsnews.com/ripple-targ...market-bitcoin/
8) https://www.cryptocoinsnews.com/ripple-unve...alized-bitcoin/
9) http://bitsonline.com/ripple-india-bank-retail-payments/
10) http://www.newsbtc.com/2017/05/13/ripple-c...ledger-upgrade/
11) https://ripple.com/insights/ripple-to-place...tal-xrp-supply/
12) http://www.huffingtonpost.com/entry/ripple...4b0b28a33f62915
13) Kraken - XRP can convert directly to fiat (USD, CAD, EUR, JPY) : http://blog.kraken.com/post/160806705967/k...-for-ripple-xrp
14) Bitfinex XRP/USD XRP/BTC trading : https://www.bitfinex.com/posts/204
15) Valuation model for XRP : https://www.xrpchat.com/topic/5280-valuatio...le-the-company/
16) Next-generation cross-border payments (presentation) (XRP addressed at 42:10) : https://www.youtube.com/watch?v=PzScsRNsoT0
17) http://www.coindesk.com/interoperability-b...ferent-ledgers/

Cryptocurrency's progress

Cryptocurrency market cap:

25/4/2017 - 30 Billion
3/5/2017 - 40 Billion
8/5/2017 - 50 Billion
17/5/2017 - 60 Billion
21/5/2017 - 70 billion
23/5/2017 - 80 billion
25/5/2017 - 90 billion
26/5/2017 - Black Friday - crashed to below 60B market cap
4/6/2017 - 90 billion (Again!)
6/6/2017 - 100 billion

BTC dominance:

16/5/2017 - First time fell below 50%

Malaysia news

http://www.nasdaq.com/article/survey-malay...on-top-cm798146

This post has been edited by kmarc: Jun 7 2017, 07:56 AM

Important advices and tips for cryptocurrencies

1) Cryptocurrencies are VERY HIGH RISK investments
- You can get 1000% in a short time but you can also lose 1000% very fast
- Only investment the amount you are willing to lose
- If you cannot stand losing 20%, 30% or even 100%, cryptocurrencies is not for you. Do look at other investment instruments
- For safe investors, it is advisable to only allocate 10% of your total investments to high-risk instruments like cryptocurrencies

2) Decision to buy or sell is yours and yours alone
- Do not blame others for your actions
- There will be a lot of rumours and chatter floating around so you have to decide yourself and take whatever action you think is necessary

3) Study and do research
- It is important to know what you are getting into
- Read on the coins you are interested in and judge for yourself whether you want to invest in it
- There are links above on cryptocurrency news. You can also google for more information.

4) Have a proper strategy and do not trade with emotions
- It is imperative that you have a proper strategy. DO NOT buy cryptocurrencies blindly
- Your strategy can change as you go along but it is important to stick to it
- Do not trade with emotions.
- Have a cut-off level where you might want to sell off your coins if it is making huge losses. However, for good coins, they will usually recover after a drop.
- Don't fall in love with a coin and hold it even if there are bad news on the coin

5) Don't keep too much money on exchanges
- There are many instances where exchanges were hacked and investors' money were lost
- Only keep the amount you want to trade on exchanges. Transfer out the rest, preferably to a hardware wallet.

6) Ensure you really secure your hardware wallet by activating passphrase.
- Remember that the 24-word recovery seed is the most important thing. If somebody stole it, they can just use a hardware wallet together with the recovery seed to gain access to your coins EVEN IF your hardware wallet is in a bank vault!
- Besides physically hiding the recovery seed all over the place, another easier method is to activate passphrase for your wallet
- With passphrase, even if somebody stole your 24-word recovery seed, they won't know or can't see the hidden wallet
- Refer the scenario below

Hardware wallet	24-word recovery seed	Passphrase	Remarks
Lost/Stolen	Safe	Not set	Coins are safe, just buy new device and recover
Lost/Stolen	Lost/stolen	Not set	Say bye-bye to your coins!
Safe	Lost/Stolen	Not set	Say bye-bye to your coins if seed stolen!
Safe	Lost/Stolen	Activated	Coins are safe, take steps for new seed
Lost/Stolen	Lost/Stolen	Activated	Say bye-bye to your coins!

Ledger passphrase guide : http://support.ledgerwallet.com/knowledge_...sphrase-options
Trezor passphrase guide : https://doc.satoshilabs.com/trezor-user/adv...d_settings.html

7) Make your hardware wallet 24-word recovery seed is inaccessible
- Remember that the 24-word recovery seed is the most important piece in your whole hardware wallet setup
- Below are a few tips:
----- a) Keep the recovery seed in a safe place e.g. safe deposit box
----- b) Instead of just writing down the 24-word in sequence, you can rearrange them so that they are out of sequence. Of course, if you do that, you have to remember the rearrangements! Example would be like switching word 1 and word 2.
----- c) Divide the 24-word in different sections and hide it at different places
- Those are just some examples. How you make the 24-word recovery inaccessible is entirely up to your creative imagination. Just make sure you remember how to unscramble your genius creativity!!!

This post has been edited by kmarc: May 21 2017, 08:34 AM

Why you should consider getting some good altcoins

I want to discuss on the multiplier effect of bitcoin and why you should also get some good altcoins.

Before that, here are some advertisements..... I mean disclaimers. I am only 3+ months in cryptocurrency and I have no TA or FA skills. However, I have super NA skills. If you don't know the meaning, in stocks, TA is technical analysis where you analyze charts to make smart trades. FA is fundamental analysis. NA is .... noob analysis. I am not in the financial sector and am not a pro-trader. Just a normal guy and the following is only my opinion. You should do your own research and buy the coins which you think is good. Lose money don't blame me!

In terms of investing in cryptocurrencies, these are the coins you must consider:
1) Bitcoin - this is a no brainer. From the trends, it looks like it will go up more, until bad news comes along
2) ETH - world wide web 3.0. It has great potential and will probably go to great heights too

Now here comes the interesting thing. Besides investing in just bitcoin and ETH, you should consider putting a percentage of coins in other good altcoins that is paired to BTC. Pairing to BTC means that the coin doesn't have a fiat value by itself. It's value is paired against BTC and is expressed in a ratio. For example, if ETH/BTC is 0.1, it means that ETH has a value of 0.1 compared to BTC (i.e. 10% of BTC's value). Again, I'm may be seen as bias as most of my funds are in altcoins. I only have 0.5BTC in my hardware wallet.

Anyway, the reason I recommended good altcoins is as follows:

1) Diversify you investment. I guess this applies to any investments in general
2) Some altcoins can go ballistics with thousands of percentage gains!
3) Most altcoins are paired to BTC, resulting in rise of BTC actually multiplying the effect of the rise in altcoins. This is what I want to concentrate on.

Say bitcoin is at USD 1000 and an altcoin is altcoin/BTC 0.010 (face value of USD 10). Now, say BTC rises 10% to 1100 and altcoin/BTC doesn't change at 0.010 (zero % increase). Because the altcoin is paired to BTC, the value of altcoin has also increased! Now it is USD 11! Now in the same scenario, if the altcoin ratio increased 10% (i.e. 0.011) and BTC increases 10%, the actual value is multiplied by BTC's increased i.e. 0.011 x USD 1100 = USD 12.1. (1.1 x 1.1 = 1.21)

Here's a clearer picture:

BTC same, altcoin 0.010 = altcoin value USD 10 (1.0 x 1.0 = 1.0)
BTC increase 10%, altcoin 0.010 = altcoin value USD 11 (1.1 x 1.0 = 1.1)
BTC increase 10%, altcoin increase 10% = altcoin value 12.1 (1.1 x 1.1=1.21)

As you can see, if both BTC and altcoins rises, the gain from holding altcoins is much greater than holding BTC alone! Even if BTC rises and the altcoin drops, the value might not change much depend on how much the rise is against the drop.

Another real-life example is my own holdings, say CLAMS. I first bought clams at 74000 sats on 13/3/2017. At that time BTC was around around USD 1200. Now clams is about 220000 sats. In terms of gains, my clams would have gained roughly 297%. However, note that BTC is now roughly USD 2500. So:

Initial buy, say 100 coins clams: 100 x 0.00074 x USD 1200 = USD 88.8
Profits if BTC is USD 1200 now: 100 x 0.00220 x USD 1200 = USD 264 (297% gain)

Now here comes the great thing, BTC has gain 208%! (USD 2500/1200 x 100%)
So, my 100 clams is worth : 100 x 0.00220 x USD 2500 = USD 550 (619% gain!)(2.97 x 2.08 = 6.19)

So if were to hold only BTC, I would have gain a good 208%. Not bad. However, because I hold clams that is paired with BTC, my gains is actually 619% instead of just 208% for BTC or 297% for unpaired clams!!!

Of course, the above only holds true if the trend of the past 3 months continues. Meaning:
1) BTC is still slowly rising
2) BTC sudden rise leads to a sea of discounted coins to pickup!
3) Once BTC stabilize, altcoins recovers or even gain much more.
4) In most instances, altcoins gains outnumber altcoin loss in terms of percentage and number of coins (i.e. more green coins most of the time and higher percentage gains rather than loss (e.g. 50% gain but only 30% loss)

Do note that this multiplier works both ways, meaning if BTC were to drop together with altcoins, BTC will multiply the effect of altcoins drop.

I'm not exactly sure what would happen if there were sudden bad BTC news as I have not gone through a "Mt Gox" scenario.Due to this noob observation, I am of the opinion that to get greater gains, one should consider some good altcoins. For newcomers, be patient and wait for good discounts.

Again, this is just my observation and I do not know what will happen in the future. Invest safely and hope everybody makes money from cryptocurrencies!



This post has been edited by kmarc: May 27 2017, 10:18 PM

Already ordered Trezor on Day 1 of my cryptocurrency journey. Backorder and they haven't sent mine yet!

I bought it because of bitcoins without knowing about altcoins. Checking back, Trezor only support these coins : Bitcoin, Litecoin, Namecoin, Dogecoin, Dash and Testnet. No ethereum support. Anyway, happy that it supports Dash. Maybe I should just buy all the coins that Trezor supports.

Ok, at least I now know POW/POS means proof-of-work and proof-of-stake although I don't know what they actually mean. Google later......

I'm convinced! Have been loading up on ETH slowly while awaiting SEC decision. Frankly speaking, I actually hope that the first ETF would not be approved, leading to a fall in bitcoin/altcoins prices so that I can buy in more. As in my original intent, I was aiming for the 2nd ETF. Man, this wait for SEC decision is torturing!!!! The only thing I can't figure out is why would SEC wait until the last minute to reject it? Makes no sense.......

Thx!

Bookmarked and awaiting my Trezor!!!

This post has been edited by kmarc: May 27 2017, 10:08 PM

Sure, I think I will create a simple guide on cryptocurrencies. The problem with me is that when I start doing guides, it will get longer and longer and longer (see my old guides). Will get started ...... one day....

Yeah, I was there to witness the dramatic increased in BTC price. Something like USD 150 in mere minutes. I guess if EFT is not approved, it will go the other way as fast too!

The other good thing is ETH and DASH could hold their ground during BTC spike. The rest of altcoins dropped like crazy......

Anyway, I unloaded about 15% of my BTC, converted to tether USD in poloniex. This is in anticipation of a no go on the ETF...... cannot tahan already.. need to go to sleep....

This post has been edited by kmarc: Mar 11 2017, 01:14 AM

I guess the difficulties of storing these coins without a proper hardware wallet would deter some from venturing into crytocurrencies. Maybe more adoption when the tech matures more and there are more hardware wallets that supports multi currencies.

And so it has come to pass, BTC ETF was not approved by SEC. And ETH doing well!!!!

From my reading, target price for BTC now predicted to drop to around USD 850 - 900. I probably will start accumulating again when it falls below 1k.

Yeah, exciting times although I don't understand the ENS either! Just hope to buy ETH and see it go to the moon.

BTC is not dropping as much as I expected. Will see how it goes today, maybe dump my USDT into ETH while waiting for BTC to drop more.

Now my main concern is security. I searched around and coinbase BTC & ETH wallet seems promising. Do you have any experience with this wallet?

Seriously, I need to get more DASH on Poloniex. The lending rate is currently 0.1378% every 2 days!!!! Correction. The rate is quoted for a 24-hour period! Ooohhh, I'm so excited!!!!!

This post has been edited by kmarc: Mar 11 2017, 01:43 PM

I see. Interesting.

Yeah I know. My hardware wallet not here yet!!!!

I just sat through a DASH dash! Didn't managed to get more DASH before it shot up but loaded a bit more of ETH.

As I have mentioned earlier, man-made craziness. The drops and spikes are more exciting (or scary) than the stock market!

Haiyaaa.. how come you didn't tell me. Or maybe you did.....

I now have BTC, DASH, ETH, XMR, XRP, XEM, ARDR, DCR, FCT, LTC, Maid, NXT and PASC,. Crazy right? No choice. Craziness + man-made craziness = two wrongs make a right. I only have little value of the minor coins, which can be bought for like 0.2 BTC for 5000 coins. Hey, can even buy USD, in the form of tether USD, to hedge again MYR.

As mentioned previously, in my humblest opinion, I feel that this is the opportunity of a lifetime, something that we average people won't ever get. Either it goes to the moon or crash and burn, I'm going all the way. The ease of acquiring the coins, the inherently HUGE potential of upside (and downside) of this craziness and the borderless nature of cryptocurrencies (that enable us to use any exchange in the world), is an opportunity we will never get in our average life. Of course, for those reading my crazy post for the first time, do note that I'm only targeting about 10% of my total investments and not putting everything into this craziness. I'm still a paranoid safe investor.....ermmm... ok ok 90% safe and 10% crazy.

The only thing holding me back is my hardware wallet. Will wait for that before I get more.

I use poloniex. As with all exchanges, the general view is that there is always risk of hackers. It is good to keep some of your coins in a safe place like hardware wallet, paper wallet or offline.

Here's all the exchanges available : https://www.cryptocompare.com/coins/btc/markets/USD

Some examples of theft :
http://www.reuters.com/article/us-bitfinex...g-idUSKCN10E0KP
http://www.thedailybeast.com/articles/2016...-of-mt-gox.html

ETH achieved a new high!

Not too sure about USD. I buy altcoins using bitcoins in Poloniex. Bitcoins I buy using MYR using Peer-2-peer platform like remitano and localbitcoins which I then transfer to poloniex.

Ya, I sold of some BTC in the hopes of buying back cheaper. After waiting for the never-coming drop, bought back at only USD50 cheaper. Oh well, at least something.....

SEC rejection of Winkelvoss' bitcoin ETF because of bitcoin's unregulated nature really throws a lot of uncertainty on future ETF application. Whatever it is, my plan is to wait a few days to see any drop, then buy some BTC before the next ETF, then sell off some before results come out.

This post has been edited by kmarc: Mar 12 2017, 06:10 PM

Oh really? Didn't know that.

On further news about cryptocurrencies...... HOLY COW!!!! Everything is going up! It feels like the stock market that just crashed and starting it's bull run. I never experience the euphoric bullrun in the 90s where whatever IPO or stocks you buy will probably give you much profit. You know, like the joke about lawyers in the US, there's so many of them that if you throw a stone into a crowd, you probably hit one of them. Haha.... I think that's the joke. Fundamentals or reasons didn't matter. Example is DCR which I bought a few days ago. Now up 40%. DASH bought 2 weeks ago. Now up 60%...... I did enter the crash in 2008 but sold off very fast as I promised myself not to play stocks when it was high. After that, KLSE just kept on going up and up and up .......... Not going to miss this boat this time although the problem is when to get off....

Regret didn't get REP (Augur) past few days. Was in my radar. Today already jumped 20%. Will probably get a bit of REP, DOGE, CLAM soon to add to my crazy portfolio. Reason? Mr. Google + Mr. Forum + Mr. Volume + Mr. Crazy said so.

On other news, DASH is also shooting up. In poloniex trollbox, many said that there was no reason for DASH to shoot up as it was not a good cryptocurrency. They think it is pump and dump. They were wrong... for now anyways. Keeps on going up and up and I just lent out my DASH for 0.4% per day after which somebody lent out at 0.6%. As mentioned, fundamentals goes out the back door for now.

Again, for those who would like to venture into cryptocurrencies, would like to stress that these are crazy times. Enter at your own risk!

This post has been edited by kmarc: Mar 13 2017, 08:29 AM

Wow! I thought cryptocurrencies were high risk and you're already talking about lending futures? But then again, I guess if we're expecting most cryptos to increase markedly, I guess playing futures (or shorts) would be a good idea. As for me, I will never ever touch those..... ever..... I think.....

Anyway, the "gameplay" is as such because as far as I know, there is not much exchanges that accepts MYR. The only way is to use websites that accepts MYR such as localbitcoins, remitano, xbitasia, etc, to buy bitcoins. Bitcoins is accept in all exchanges (that's why they exist!) where you can trade BTC or buy altcoins using BTC. Poloniex is just one exchange.

ATH!!!!

Come come now. Everybody has their own preferences and opinions. Don't have to be so blunt.

WooTz is just giving a word of caution. It is up to each person to decide for their own. Let's all profit from cryptocurrencies!

This post has been edited by kmarc: Mar 13 2017, 12:52 PM

Again, thx for your wise words of advice. Good that you didn't say I sounded a bit too crazy.

I'm almost finished with buying what I wanted. Almost reaching my 10%. Will save a bit more after seeing the trend.

This morning added AUGUR, Belacoin, clams and Dogecoin. I know I know. Crazy, but it's not much... Dogecoin 50k for 0.01 BTC!

This post has been edited by kmarc: Mar 13 2017, 01:03 PM

Noted. However, I sincerely don't think it will diminish any time soon. More people are getting more aware of cryptocurrencies and more money will pour in. Probably some BTC funds going into altcoins too. I think to many, the prospect of get-rich-quick is just too tempting. My opinion only.

All the best to you too!

Are you lending out your DASH? It's going for 0.2-0.3% interest/day at poloniex.

This post has been edited by kmarc: Mar 13 2017, 02:16 PM

So far so good. DASH has the highest lending rate on poloniex so far. Probably due to high demand. I just transfer a certain amount of Dash from the exchange fund to the lending fund within poloniex. Transfering within your own "account" funds are easy, just have to use the transfer function.

Once DASH is in the lending fund, you can lend out the funds. However, you have to quote the lowest rate if you want it to be taken up fast. Say the lowest quoted rate is 0.2%. So you can quote 0.199% for a 2-days loan with or without auto renew. Duration is flexible but I think the shorter the better. Once the loan offered is taken up, the interest will start to accumulate and update every 20-30 seconds.

The person taking the loan can cancel at any time and your funds will be available to be loaned out again. If you set auto-renew, it will just offer the loan at that rate again. If you don't set auto-renew, the returned loan amount will have to be manually offered again.

Pros and cons of auto-renew. With auto-renew, you don't have to frequently check to see whether the funds are returned. However, the cons is that the rate might be higher. For example, my first Dash loan was offered at 0.088% and auto-renewed and loaned out later at the same rate when the going rate was 0.2%! Without auto-renew, you can try to get the best rate at that point of time but the cons is that you have to frequently check. Remember that a loan offered for 2 days doesn't mean that it will be loaned out for 2 days. It might be returned a few seconds later!!!! So far, Dash loans are taken up the full 2-days due to demand.

I think have to try it out for yourself then you'll understand the whole process. I guess the returns over days are not much especially if the amount is small and you have no time to micromanage. For me, it's better than sitting on the exchange doing nothing!

Do remember a rate of 0.2% is for 24 hours. Meaning in the unlikely event that you managed to loan out that rate for 1 year, the effective annual interest rate is 0.2% x 365 days = 73%!!!!

I even loaned out my ETH which is like 0.0003%. Just for the fun of it. So far, I have loaned out like 50 loans and no problems so far (because some loans are returned very fast when somebody offers a lower rate).

Risk-wise, the moderators say that the loaned out coins cannot be taken off the exchange. They also said that there were some other safeguards. Meaning if you loaned out 20 DASH, it cannot be transferred out. Even if DASH value dropped 10% and the person made a lost, it is still 20 DASH which he will return back! That's what I understand anyway.

This post has been edited by kmarc: Mar 13 2017, 04:06 PM

Yes, fractional reserve and leveraged trading....... have no idea what it means!

I'm not sure I fully understand your comments but anyway, I'm not loyal to any coins. I just don't want to miss this golden opportunity even though I'm a late comer. Those entering much earlier would be laughing all the way to the bank by now.....

Agreed. Only Dash has such high interest. Here's some comparison of spot interest as of now:

Dash : 0.4998%
Eth : 0.003%
BTC : 0.0198%
XMR : 0.0085%
LTC : 0.0069%

My Dash loan at 0.3997% is still on loan since morning.....

This post has been edited by kmarc: Mar 13 2017, 07:00 PM

Every time I see the US debt ceiling news, I think it is a joke that will never end. Either the US gov does not have a solution to it or they don't dare take the necessary important steps to address the issue. I won't be surprise if they increase the debt ceiling right at the end, which is what they usually do.

However, Donald Trump is a business man and I'm thinking the opposite, that he will do something drastic to address the situation. Either that or he will just follow past actions like usual.

Anyway, just lent out my Dash for 0.1998%. Also lent out my ETH but I accidentally type an extra zero - 0.00003%. Oh well, luckily it is two days only.

Hey thx for the invite. However, as with wengherng, I don't do trading because I'm not good at it. My plan is just to buy and hold as many types of coins as possible that has the potential to shoot up. I'm not looking for a 10-20% gain. I want 10000% at least!!! In this crazy world of cryptocurrencies, the probability is much better compared to other available investment instruments.

Anyway, I'm out of ideas on what other coins to buy now. I have google for "Best altcoins 2017", "Best recommended altcoins", "Potential altcoins 2017" and whatever I can think of. That's why I now have........ six...teen... types... of... cryptocurrencies.....

This post has been edited by kmarc: Mar 14 2017, 07:19 PM

For minor altcoins, not much of each actually. The one I'm most happy to see is my 525,098 coins of....... Dogecoin! Cost me 0.099 BTC.....

Lol! How come can show like tat....

Haha. Euphoria and heart attacks should be common for
Cryptocurrencies. Hopefully more of the former.

On further news, my Dash is officially more than 100% gain. Not happy because I don't have 500,000 Dashes.

Look up "The dollar vigilante". Jeff Berwick is an anarcocapitalist (I think) who recommended bitcoin when it was 3 dollars and recently Dash at 17 dollars. I never did paid subscription because his recommendations are mainly US-based investments which I have no access too. However, with cryptocurrencies, I don't have such limitations. Wished I had subscribed earlier to get early predictions news on dash. I'm going to subscribe for 3 months and see how beneficial it is. Of course, bear in mind it is only my 0.00002 BTC opinion.

Edit : Already joined TDV for 3 months, nothing relevant for me at the moment as it is US-based recommendations. Will have to wait and see whether any cryptocurrency recommendations.

This post has been edited by kmarc: Mar 15 2017, 08:59 AM