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borrow Bitcion to pay with interest?

Discussion in 'CryptoCurrency' started by kingzitech, Apr 11, 2017.

  1. kingzitech

    kingzitech Newbie

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    a fiend of mine made a post on facebook that their is a secret website that can loan me btc to pay with 12% interest, but he refused to disclose the website url to me..
    please is their any secret site that can loan you any amount of BTC with only 13% interest rate?.
     
  2. SnowMyLife

    SnowMyLife Jr. VIP Jr. VIP

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    Its probably some scam and not legit. If you borrow and don't return they don't have any collateral. Rule 1 in life, NEVER borrow money of any sorts if you have no means of returning it.
     
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  3. blogzandstuff

    blogzandstuff Elite Member

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    If we knew it the site wouldn't be secret would it
     
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  4. jerra

    jerra Regular Member

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    Why would they lend it?

    They would sell it to you for a 12% mark up sure? But lend, what in it for them?
     
  5. AneaKr

    AneaKr Jr. VIP Jr. VIP

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    There is no practical reason something like this would exist unless there's a scam involved! Be careful with Bitcoin schemes like this. And definitely don't pay them any Bitcoin, or you'll never get it back.
     
  6. roober

    roober Junior Member

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    it is doubtful proposal. it is better not to borrow
     
  7. jimbobo2779

    jimbobo2779 Jr. VIP Jr. VIP

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    Well the reason would be that the lenders would be getting 12% profit, providing the borrower paid it back, kind of like a payday loan.

    However it is unlikely that this would exist as any lender offering unsecured loans would be looking for far higher returns than 12%
     
  8. avilux

    avilux Power Member

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    Right, this rings of scams big time. You're better off margin trading lol