Earn Money by Lending Your Bitcoin

On Oct 5, 2020

Hello, guys today in this post we will teach you how to earn money by giving loans to the genuine people who are in need.

Since we already discussed this way of earnings in another article, you can check it here, Where we talked about the numbers of websites to lend Bitcoin and another crypto to get a small percentage of earnings per year But here today we will talk about another way to lend money and get more percentage of profit.

Usually, it remains very risky to give a loan to someone who is totally unknown to us because that person may refuse at the end to return the money and interest.

So here we will talk about a platform, bitcointalk.org, which is a 99.99% safe place to give loans.

What is bitcointalk.org?

Bitcointalk.org is a discussion platform regarding Cryptocurrency. At this discussion platform, we can talk regarding all types of topics of Cryptocurrency especially Bitcoin.

Since this platform is running especially for Bitcoin and Bitcoin-related thoughts discussion but still there are many things that are going on there.

People not only discuss the market analysis and trading analysis but also earning a decent amount by spending a small amount of time daily.

The main sources of earnings at Bitcointalk forum are the signature campaign, give loans, and earn money, escrow service and work as a manager to manage the signature campaign.

We will talk about all these things in detail that how we can take part and make earning, but in this current post, we will share only earning with lending service.

To get a detailed article for another method of earnings at Bitcointalk.org waits for our next article.

How to give loan

Rule No. 1: This field of Cryptocurrency is full of good and bad people, so we can’t trust anyone in any situation. And also we should not take any attention to the situation, need, or any type of promise especially in case of money.

First of all, you need to create a thread ( post ) in the lending section category at Bitcointalk.org, and in that thread, you need to write what you have to give loan ( the amount and currency) and how much interest per day or per week you will charge.

Example and reference to write the thread are available. You can get easily by taking a little look at another lending threads. To see the most active thread of the lending section click here

After this step, if any person is interested in your service of the loan then he will give a reply to you at your thread.

Keep in mind, don’t do discussion outside with that person in any case, everything should remain publicly open so that everyone can see that what’s going on at your service thread.

Now come at the point that how you will get the trust that he will give you back your money And if he will not pay then what you will do?

The maximum amount of loan should not depend upon you that how much you Bitcoin or any other Crypto to that person But It should be dependent to the account level ( account position ) that how much that person deserves a loan .

Understand this thing in deeper, Everyone who is at bitcointalk.org platform has a level ( position ). This position is counted by According to the number of posts, time spent, merit.

Usually there are only seven levels

Newbie ( $0 )
Jr. Member ( $1)
Member ($5)
Full Member ( $20 )
Sr. Member ( $40 )
Hero Member ( $80 )
Legendary Member ($150 )
Another higher level may exist but not counted they are those members who donated high amount of Bitcoin to the forum .

There you can see the levels, this will not remain in the hidden form at the website, these levels of every member remain publicly available on the Right-hand side of every post of the member we can see.

Now take a look at the number of dollars that we wrote in brackets. These are amounts of the money that we can give to these members easily as a loan, If they will not return then they will get a negative trust rate and that negative trust rate will make the user account totally useless.

Probability of Scams?

There remains a small probability of scam but we can eliminate this probability by our analysis and details about that account ( user ) easily. So look below that what are the points that we should keep in mind before giving a loan.

Check past post history and see whether he didn’t take any loan from another member at this same time. If he is doing this then don’t give a loan to that person and report about it to the moderators.
See the trust rate of that user, normally we can see the trust rate of any user (right-hand side of the post of that user ) If the user has negative trust ( red trust ) Then don’t give him a penny of Satoshi at any condition.
Try to avoid the members which are at or below the full member level.
Always take a deep look at the history post of the loan asker account that whether his account is stolen or hacked by someone. It remains not easy because a hacker will never give chance for us to catch him.

But still, we can see the email change time, if it is very recent then be careful, maybe hacked or stolen account, in this situation you should report about it to the moderator so that he cannot do any type of scam like things or at least moderators will attach warning string with the account to avoid any type of risk or loss of fund for another people in the forum.

What if people will not return your money?

If you will follow all the steps that we mentioned above then there is a very rare chance that you can face any scam-like things. Because any person who has an account at this forum has a decent amount of value of his own account.

So we can understand well that if someone wants money then either he will sell his account at a high price otherwise with a small amount of loan he will make his account only useless, a type of loss for that person.

In short, we can say that a person will not lose his account of value $100 for just $20-30 only.

Don’t do these mistakes

Never try to make multiple accounts otherwise you will be ban by the Bitcointalk forum permanently, every time they will detect your IP address and will ban you again even with a new account.

A question will arise in your mind that why we can’t create multiple accounts?

Actually, accounts are very useful to make earnings at the Bitcointalk forum, so people usually create multiple accounts and sell to the new users easily, this is called account farming, and it is not allowed there.

The value of every account almost remains three times the amount that we gave to them as a loan, so we can understand how much we remain safe at this point If we will give less amount of loan than the amount of the account value.