Hey everyone I thought it was a good idea to warn new people about lending plattforms so here is my personal experience with lending and why it´s all just scams.
I first heard of bitcoin in 2013 when a friend of mein was buying stuff on silk road not gonna say what that is.but for me at the time it was something hard to understand. Something about private keys and secret meetings to buy bitcoin in the middle of berlin.was all too stressful for me.
But the part I liked about it was that it was decentralised.
then in late 2017 I heard about it again and it was like 3000 dollars and riseing. So I really got into learning what blockchain tech is and that there is many diferent kinds of crypto currencys.still new to everything I opened a wallet on blockchain.org and bought my first bitcoin.
I then started learning more about the decentralised nature of cryptograghy and how the internet will be decentralised in the future and you dont need banks anymore. That people from all over the world can have acces to way´s of storing and sending wealth.
That major company´s cant monetize your information.that on the blockchain if you hold your private key no one else can acces or change your information.
This is all in september, then I started to do a little trading and watched tutorials about day trading. Got myself an account on bittrex and started trading. After making a little profit I started reading and seeing loads of youtube videos on lending plattforms and thought thats too good to be true. .
so I watched more videos and just saw positive things about lending plattforms, So I thought man why you day trading when you could be lending. Making money buy lending money.
Make tones of money just lending crypto.wow couldnt really believe it and at the same time bitcoin was skyrocketing along with most alt coins I was trading. I saw my accounts rise by thousands over night it was the best thing ive ever been through. Maybe that sounds bad but money has never come so easy to me.
so I took some of those thousands and sent it to 3 lending plattforms about 10 thousand dollars in all still watching my btc account rise day by day. So I start lending, I see the returns are like what they said.
wow I couldnt believe it.worst of all I even thought about quiting my job, thinking this would go on forever.
Then came the big crash and all the lending plattforms I was using where slowly paying less and less.
At the same time I was watching my btc and alt coins going down thinking it cant go any lower right?? can it no too many people have invested but to my disbelieve it kept on going down .
Then all the lending plattforms stopped paying and paid the laons back in there shitty worthless tokens.
It would´nt have been so bad if they had payed us back in btc.
So there I was left with about the same amount that I started with at least that.not like some people that bought at 15 thousand and above. I stopped buying at 10 thousand. At that point it was too expensive for me.
I see there are still lending plattforms popping out from everywhere, people dont be fooled they are all just out to get your money there are no bots there is no arbitrage its all leis if these people had all these cool things why do they need your money they would be making it for themselves not for you.
So for me NO MORE LENDING PLATTFORMS. OFF WITH THERE HEADS!!!!!