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RE: Use Poloniex Lending Bot for Maximum Interest Earning Potential
I have been watching this feature... Please tell us:
"Please note Margin Trading is very risky!"
Is our money at risk when lending?
In your own experience what % of benefits are you getting? For how long you had to lend your money to get that benefit?
Thanks a lot for your helpful post.
Hi @marcosespes1 great question my friend. Poloniex has a feature called forced liquidation which protects users from losing their crypto-currencies when they borrow it out.
Use this link to get a better understanding of margin trading and forced liquidation: https://poloniex.com/support/aboutMarginTrading
All earnings varies based on the demand for the coin and the interest people are willing to pay for the coin.
You do get a lot of benefit from lending because risk is very low and if you have a substantial amount of Bitcoin then you can earn a lot.
Hope this helps and thanks for the comment :)
Thanks a lot, following the link and trying to understand force liquidation.
"and if you have a substantial amount of Bitcoin then you can earn a lot." Man, if I had a substantial stack of this magic stuff I would be leaving my job two months ago ;-)
Lol I know what you mean buddy :)
To figure out what you will make just multiply the interest rate with the amount of coins you lend out. If you look at the lending bot picture you will see bitcoin has a lending rate of 0.1785% which means if you have 1 bitcoin it will be 1x0.1785% per day. The same applies for the other coins just different lending rates.
Hope this helps ;)
Thanks a lot, yes it helps and...
May I suggest to take a look to ethtrade.org? I have been using them for almost tthree months now and the returns vary between 0.37% and 0.70 daily.
I am really happy with the results and their web its pretty simple and nice to use.
Im glad it helped and thanks for the recommendation. I will check them out when I have some spare time :)