Invest ter Cryptocurrency (Bitcoin, Ethereum and other) Peer to Peer Lending, Reinis Fischer

Seems that crypto currencies are a hot thing on this blog during this Summer, tho’ it wasgoed just latest, not even a month ago, when I determined to diversify my investment portfolio and allocate up to 5% space ter it for crypto currency investments (buy and hold here).

Now, despite the pretty serious loses here, I still feel pretty optimistic about crypto currency future, and project to invest there merienda te a month using dollar media cost treatment by the end of 2020.

For about last 6 month I’ve bot investing ter a more casual form of peer to peer lending – mintos.com, focusing my investments ter Georgian loans. See: Invest te Georgia – Peer-to-Peer (P2P) lending – Mintos.com

Spil I’m already casero with peer to peer lending concept, and presently te the exploration phase for crypto currency investments, I thought it would be cool – if I could lend out some or all of my coins and earn some income on that. The solution wasgoed just around a corner (Google search) – I did find a few bitcoin lending sites, but chose to stick with one at the embark, meet Poloniex.com an US-based digital asset exchange suggesting maximum security and advanced trading features.

The sign up process is ordinary and pretty straightforward, ter duo of minutes my account wasgoed ready and setup. Now Poloniex.com doesn’t offerande ongezouten fiat deposits, you will need to have some coins already purchased te other service, which you can then transfer to your poloniex.com address.

I’ve a coinbase.com account, where I’m purchasing coins (see: How & Why To Buy Crypto Currencies (bitcoin, ethereum, litecoin) Online – Coinbase ) and I just transferred my coins from coinbase to poloniex.com. Actually this wasgoed very first time I transferred crypto currencies from one address to another. It wasgoed joy.

Depositing bitcoin to poloniex.com

I just copy/paste my deposit address and transferred coins from coinbase.com to poloniex.com

Sending bitcoins from coinbase.com

Coinbase took a puny network toverfee for this transfer and after about Five minutes my coins were deposited on poloniex.com. That’s damn prompt, how blockchain technology actually works.

My balances on poloniex.com

Now I wasgoed ready to embark lending bitcoins for a margin traders, but before that I had to transfer my funds one more time inwards the poloniex.com from exchange account to lending account:

I determined to split my initial investment into two loans and proef with two different rates, very first rate I set about the same spil most of the other lenders suggested at – 0.0473% while for other loan I set it a little bit higher yield at 0.0485%. For my verrassing both loans were taken instantly and I commenced to witness fees rolling ter:

Those are awesome rates. On the other arm it seems that daily rates can fluctuate a loterijlot, spil they are driven by request and switches quickly.

I deposited and lent extra litecoin coins, unluckily I wasgoed not able to lend ethereum at this time, spil ondergrens amount for deposit te ETH required is 0.Five. Spil of writing this I’ve just 0.Two. Most very likely I will add ETH next month here, after will purchase more coins.

For litecoin I lent at 0.040% making annually – 14.6%

Now, by the embark of the next month I project to purchase more crypto coins, making a total value for my investments there at about $250, let’s assume that I could manage to lend them at 0.040% daily rate (that’s 14.6% annually, or 1.21% monthly).

If things will turn out nicely for the August dividend income report I’ll add another revenue stream, reporting about $Trio.02 income from crypto currency lending for the next month. Modest, but still pretty cool.

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