Loan money to Traders for Passive Income on BFX exchange.

13 days ago

Disclaimer: The moment coins enter exchange they are not your own, any exchange about OpenLedger which is decentralized can die any day. Always understand that depositing any amount to any 3rd party - exchange, wallet, casino whatever.

Poloniex also has this option but due to loads of issue and red flags on the exchange (ie STEEM wallet down since 3 months) i suggest to skip.

BFX has their bad fame (ie the famous 60 million hack) etc but looks like best place to risk money this way.

Do not use any lending sites - i have lost money on all of them, only BFX gave me constant profits.

Market Data


For start they have 11% of whole BTC volume, currently on USD pair.

They have many currencies right now with cool volumes.

Lend Money to Traders

So unlike some loan services on exchange you lend money to traders so they can play with them, if they lose more than they can pay you back - they get closed and you get cash back. This way this investments are pretty secure but also - you need good amounts to make something. If you have some BTC, LTC, ETH that do nothing its possibly better to make them work than keep in wallet.

Register to BitFinex by Clicking Here

I dont remember if they need verification, surely they didnt need document scans if you dont withdrawal by wire. If needed just do what they say.

Go to Deposits and Choose CUrrency


They have a few but i suggest one that you want to sell right now, best rates are on USD.

Sell for USD


Click Trading then youcoin/USD then click this green button. It will sell all you have into USD.

Move Balance


Go to wallets on top right, move your USD balance to Funding.

Lend It


Go to Funding in the Middle of site and choose USD. Now decide price you want to lend on and the amount.
You can chose few prices and few amounts. It works just like exchange - if needed write to support, they reply really fast.

Profit

Now you will be getting passive money from the investment, with time you will learn more tricks on the platform and will be able to tweak it. This currently and 1broker are two easiest ways imo to make passive cash on crypto without much knowledge.

Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips!

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Great advice.😁

Thanks for sharing!

Hi ,
Nice work sir

Guys , you can do this, but remember this falls under income tax, not capital gains

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Income tax bc it is revenue from services (providing a loan) and not trading?

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exactly

Warning: don't deposit more you couldn't bear to lose. Exchanges have and can stop functioning at moments notice, meaning you could lose your money for good.

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thanks for this info

Yeah I was always suspicious of those sites where you loan out your Bitcoin for a percentage return appreciate the guide take care thanks again.

Very useful site for the lenders:
https://cryptolend.net/rates.html
Tip!

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very interesting, thanks!

Great idea. I just think that instead of lending, it is better to invest on a good project and leave it for months.

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What are your thoughts on ATLANTI (ICO)? The public token offering started this month, was thinking about investing but its success depends on government adoption of blockchain ledgers.

very risky...

Basically this tells me how i can compound the risk of an incredibly speculative investment by unknown multiples for the reward of possible small percentage gains . People please do not risk your own financial future by lending money to people you don't know that lend money to other people you don't know so they can gamble that money betting on something that nobody can possibly know will actually be a good investment in the future.

which is the most credible exchange?

What would be the bare minimum to make it worth while?

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depends where you live :) just try!

awesome

If you are a US Citizen then you will not be able to open an account there.

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try to use VPN to view
USA will soon be banned everywhere

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that´s a big claim, can you proof it with different sources?

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USA will soon be banned everywhere
Can you elaborate?

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US will not be banned everywhere he was just speculating. You cannot use a vpn they verify with KYC.

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No one wants the banking Cabal anywhere in the world because of their control issues https://www.bitfinex.com/posts/216
https://www.bitfinex.com/posts/217
Everyone in the world is busy treating the Dollar like a virus since everyone is starting to realise what the FIAT Ponzi scheme is all about.
The Biggest Scam In The History Of Mankind - Hidden Secrets of Money

If you have wealth stored in the US Dollar you are ignorant to your comming demise. Rev 18

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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.

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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

i know a little about this thing as it was on Poloniex but it of no use now as you just mentioned due to many things but i always had one doubt is the money remain safe in there ? i know this is silly question but still

This is great investment system. But how about if you want to loan, do they have a feature for those who want to loan? Let me navigate their site. Thank you so much for this valuable information @kingscrown...

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Yes, it is called margin trading. If you have 1 Bitcoin you can lend 3,3 to trade with.

Thanks for sharing @kingscrom

I have account in 1broker and site is really great.It is so good that they support bitcoin only.There I only trade position eur/usd and I make 5-10% profit per week.

@kingscrown Could you make a post about 1Broker?

Thanks for sharing your advices.

Interesting site Thanks for info

Hi what is the interest rate that we get from lending? How much you earned?

is there any risks and how much is roi per month? i know here in steemit we can have 24% apr, so is there better?

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there is no 24% APR on steemit anymore man

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if you use minnowbooster there is 24% to delegate your power to others

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I want to help. I have become very weak. Please help and thank you

Great

But i am still doing lending on poloniex and all is fine

Great post, greetings.

i usually use etoro as "copytrades". Just give money to etoro and my moves are the same as them.

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that's an interesting feature. thanks for sharing

poloniex consistently pays out a higher interest rate than Bitfinex in my experience. I am super bugged that the steem wallet isn't working though :(

Amazing post and narrative.
Thanks for sharing such great post with us!

1Broker is one to check out and I actually never heard of them. Thanks for the advice and a new way to make some passive income.

thank for your advice, i will do it right now

Red Flags on Poloniex?
What is wrong with it? I have never used it, but I thought is is the best exchange right there, with biggest volumes and most member trading....
I m trading with Bittrex and happy enough for now.

It sounds pretty risky to be honest. What's your take on Bitconnect ?

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Id avoid bitconnect, sure you can make some money on it, but much like a ponzi scheme you will want to get out before the house of cards crashes. Essentially 90% of bitconnect exchanging happens on the bitconnect website - as in no one buys it anywhere else for anything else.

It's value is artificially pumped due to a majority reinvesting rather than withdrawing (similar to how a ponzi scheme works). This pushes the price higher and attracts more investors that also tend to reinvest. The end result is a fast and hard crash when a large enough stake is withdrawn, but so long as more reinvest than withdraw, coupled with new investors, it will appear stable and attractive.

I'm invested in a few ponzi schemes, you can make money off them so long as your timing is right. Saying that, i've had three ponzi's cut and run this week before i got into the profit. It is risky, and there isn't much power you have in retrieving lost funds.

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those were my feelings to be honest but I wanted to get more opinions on the matter

That's was pretty simple and straight info. Thanks for that great peice of information i like it. Love your post

WOW I like it this information on steemit

Again your post is very interesting thank you. I'll have a browse around bitfinex. The devil is in the detail I'm too new so have to find ways of moving from my wallet. I am very happy with the way it's going, in in for the long term, but it would be good to know I can exchange for bitcoin or something else. If I accomplish that then I can tell people who ask me that it really works.

nice post upvoted your vote is important for me @deshwal

Nice post, I have been doing this for a while now.
It is kind of important that you use a lending bot that renews your loans once they pay back. Good ones don't just give loans away at the current price, they sometimes wait for better ones. I am thinking about making a comparison between the most popular ones and benchmark them with a couple of identical Bitfinex accounts.

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exaclty autorenew is a recommend, what bothers me most is that i have to keep my coins online the whole time

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What do you mean? Do you mean on an exchange?

And the default auto-renew settings are really bad, a bot is highly recommend.

Thanks for sharing !

Nice post

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I will be checking this out. Thanks for info and great step by step instructions. Sounds pretty easy. Like you said better to have it attempt to do something than just sit there.

@kingscrown how does one make passive income from 1broker? Thanks for the answer.

Lending BTC is a great way to profit because you'll earn interest and the value of BTC will always be increasing

Good write up - I've been looking at lending sites and found the same as you. The only tip I would add is to lend when the interest rate is high, it can vary quite a bit during the day, so either wait, or set a limit. Thanks for the info!

hey nice post. ill share it and spread the word. could you please do the same for my 1st post i put up thanks. steven d

Hello @kingscrown

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Your post was upvoted by Keyholder North, rewarding you with 8.1$

Keep up your awesome work!

I also trade with poloniex. The commission is cheaper than the exchange in Japan, and I like the good liquidity of coins.

Thanks for sharing... Love it.

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I was reading some of the comments. One member said that if I live in the U.S. I can't open an account. Why not? How will I be able to do so? I still don't understand a lot of things about this. Is it like Bittrex? What are your thoughts on Bittrex?

I always visit your blog because you inspires me. Do what you do. Thank you very much for sharing inspiring content.

Never heard about this, got me interested in this subject.
Thanks for the info

Guys, please check following post it's about the binance scam and the refund plan for those affected coins -> https://steemit.com/bitcoin/@leo-tmp/binance-scam-insane-refund-details

BFX gave me constant profits also !!!!!!!! In general avoid lending sites

Thanks for sharing the info
Good to know

great idea and research, keep it up!!

good post

another great post! Appreciate your work!

Thanks for the screenshots of BitFinnex. I do not have an account with them yet but always like to see what the interface looks like before joining. Always gives me a better idea of their platform as a whole if the interface looks good. Another great article, with great value to many of the users of Steemit.

niiice

that's very helpful post!!

This post was helpful, thanks for the information provided!

I am not a fan for Poloniex but this is a good post:)

It's still better to delegate steem power because of 4% per month for passive income.

Very well explained, I love it Sir

Nice Post KinsCrown.

If Intressted Follow this Link below...
https://qoinpro.com/badf63de676f8eb624b7b188cf064eda

Be carefull with Bitfinex, For like the 10th time now, my account at Bitfinex is the object of hacking. I have taken all precautions 2FA, very difficult password and still I get notifications of someone logging into my account from an IP-address at the other side of the world.
I have to say, there is something fishy at Bitfinex... So be carefull.
The lending is an amazing feature, but when you get hacked and your coins are gone, that's not so amazing!

Risky risky, for 99% you're better off buying BTC and SteemPower and hodling.

very risky for over 90% of us.

Thanks for sharing:)) I am new to Steemit and learning all I can about Crypto currencies:) I followed you and upvoted as well.

Great post sir, thanks

Great advice👍

hope to open an account and trade very soon, still reading on steemit so to understand more how to trade in cryptocurrency, this is very helpful to me

I even don't know what steem really is ??? Can anyone can tell me....

I will say the concept is OK but a limit need to be fixed otherwise many people may land up in trouble if the lending is limitless.

Thanks for sharing!

I love this coin

Sorry, but I pass, I can't risk my 5 bucks :D

Congratulations @kingscrown!
Your post was mentioned in the hit parade in the following categories:

  • Upvotes - Ranked 2 with 753 upvotes
  • Comments - Ranked 5 with 103 comments
  • Pending payout - Ranked 9 with $ 276,26

yes great idea, and best for lenders

almost done writing up major proposal that would enable to do this on bts, hope it gets picked up

Interesting... Is it safe?

Hi follow me guys 😊

Informative, thanks

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Any idea why the STEEM wallet on Poloniex is down?

Interesting.... i will check it out

hello i just opened my steem account how do i follow anyone over here?

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Upvoting this comment will help support @minnowsupport.

Thanks for sharing, did anyone tried it?

@kingscrown Interesting Tale. Hope you obtain what you would like from this job. Have got a pleasant working day..

LoL You will earn more if you hold your Crypto, You can earn your income in 1Day you. You can earn more only if you hold your crypto. Don't sell your crypto for Fiat now your will regret in future.

@kingscrown Very well performed for sticking at it! It's really a new technique for lifetime therefore you are modern-day pioneers. Adore it..

@kingscrown Thanks for your work sir.... Love it.

Just knowing this world :o, thank you for sharing. Even I, who do not understand much of this, I could understand something.

Think to this disclaimer: Losses can exceed deposits
In the exchange market is possible to loose all and more, so think twice before start investing in this market.

Never knew of this method, thanks for sharing!

So some post with referral links are marked down, flagged a section spam and others are promoted even while not clearly stated that ref code is there. Seems legit?

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