Attention Holders Of Bitshares.. Bitshares Is Lending Over 2% On Poloniex's Lending Market!
I know that I have seen numbers like this on some coins before, but I haven't ever seen Bitshares at such a high level..
This is mainly just a post intended to inform any of those who are holding Bitshares but aren't necessarily consistently keeping an eye on the lending market. These types of interest rates will probably not hold, so speed is definetly a big factor. I was personally able to lock into a position at a 1.86% interest rate, and the rate has increased to over 2.5% since then! I am strongly considering increasing my stake on Bitshares and putting the additional tokens on the lending exchange. I am in a long term hold position ob Bitshares, so even if Bitshares sees a temporary retreat over the next few days and weeks I will not be affected. An interest level of 1.86% compounded daily is nearly unheard of, and I intend to take full advantage!
Like I stated before, this post is really just to alert holders that may not know of the current interest rates we are seeing right now. If you were considering potentially opening a long term position on Bitshares, now may be a good time to begin in my opinion. While the price of Bitshares has been retreating along with Bitcoin, it has tremendous long term potential as a project and has seen significant support over the past few months.
I hope this post may have helped you in some way, and please feel free to leave any input, questions, or discussions in the comments below! Thanks for reading!
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Thanks for the heads up I am always looking for crazy lending rates (usually in Bitcoin). Best I ever got was 1% a day, but this is next level!
Even just being able to take advantage of anything close to these levels for a short period of time is great!
100% agree - this was the best I ever got on Bitcoin and I will never lose that screenshot! Made over a Bitcoin from it!
How much was invested? Thats crazy.. Maybe I should get into the lending business haha
I lent out up to 20 Bitcoins over the last 40 days. Some days only a small amount, other days a lot. It is pretty scary as the site has your private keys so it is not super safe!
So you don't fully trust Poloniex (I wouldn't either.. I mean just look at Cryptsy)? But what other options are there anyways... it's good money. Once you get too much, just keep withdrawing so your comfort slowly starts rising. I only ever keep a few thousand on Poloniex, usually move some straight out into new wallets but I see the challenges with loans.
I think Poloniex is a solid site don't get me wrong. But you can never trust anyone or anything that has your private keys. I only feel safe when my coins are in my Trezor. Here --> https://bitcoin-millionaire.com/my-btc-wallet/
Eyyy I love the details! You go full out with explaining everything. That's awesome. As a marketer I'm like geeking out about the website and the design of it, what made you originally want to start it? I see everything from just gaining new valuable connections to the affiliate links to having a nice little portfolio for both you to keep track of and to share to the world.. but dang. I'm impressed!
What are the risks like?
non existant, look into how margin trading on poloniex or in gereral works and you will see how it can work. individuals trading on a margin must keep a specific amount percentage of the total funds they borrowed, and if their account goes below that the account is liquidated. Even if that happens, the lender is still paid in full. The only risk I can think of is if poloniex had a giant technical error or something to that extent, but I have never seen that happen and it would be highly unlikely.
I was looking into it before but it's been a little bit. As i keep getting more and more funds to work with.. Hmm, it might be worth it to spread out risk even more.
Alwways a good chance for solid and safe returns. The rates are typically nowhere near as high as they were. Bitcoin is often under .1% daily.
Thanks for the tip! Gotta lend that..
Upvoted followed resteemed
Good info