Recently I have started thinking more about my investment strategy. I am a cautious investor and don't really like trading.
So I started to look for ways to get more out of my crypto investing.. that is when I came across poloniex trading.
What is Poloniex Lending?
Poloniex Lending is a way for you to earn interest by loaning your crypto to others who want to do margin trading.
What is Margin Trading?
Margin trading is essentially trading with borrowed funds instead of your own. When you place a margin order, all of the money you are using is borrowed from other users offering their funds as peer-to-peer loans. The funds in your margin account are used only as collateral for these loans and to settle debts to lenders.
How Do I Offer Loans and Earn Interest?
If you prefer to earn interest on your funds instead of trading with them, you can lend them to other users on the Poloniex Platform.
Once you have placed your offer, it becomes available for margin traders to use. Margin traders will consume lending offers starting with the lowest rate. If a lower rate becomes available after a margin trader's loan has been opened, the contract may be transferred to the lower rate. Remember, a loan can always be closed early by the taker, so be sure to offer competitive rates if you want the best chance of your offers being taken.
How Much Can I Make?##
Rates fluctuate constantly and vary greatly depending on supply and demand for each cryptocurrency. Currently I am getting over 50% APY by loaning bitcoin.
Automation
While you can do the loans manually yourself.. it is much better to set up a bot to do the loans automatically for you.
I am going to write up how to do this yourself for free. Follow me so you don't miss out.