If you have some Dogecoin and you waiting for the time the price will grow to $1 or more. Here is how you can make some money. Open an account on poloniex.com if you don't have one.
Deposit your dogecoin on your Poloniex account and transfer the Dogecoin from your exchange account to your lending account.
At poloniex, the percentage is daily and the rate depends on supply and demand. With my experience, on average, the interest rage is around 0.600% that equals to 18% per month. I don't know of any bank that will give you that. Sometimes, you can get up to 30% per month. If you lend out your Dogecoin with worth of $1000, you can expect to make $180 per month or more. That is something. If the price of Dogecoin increase, that will mean more money for you.
You can also set how many days you want to give out your loan. This is my little secret. If the exchange rate is high, I like to leave it at 30 days so that I can benefit more. but if the interest rate is small, I live at at 3-7 days.
Is your cypto safe on Poloniex?
Well I don't work for them, but as far as I know, it really safe on Poloniex. Also, their is guarantee that you will get your money and interest back after the loan is mature. So if you have some Dogecoin or Bitcoin, you can lend them out and make some money for yourself. Please this is just my personal advice, you are responsible for your own decisions.
Copyright: @eadiatu
Please upvote and resteem
When I first got into crypto I was lending 1 BTC in increments of .1 BTC out for 10 days on Polo. Wasn't making a killing, but like you said, residual income.
Yes. Its better to get some money than nothing. If you have a good number of coin. You can earn a good income. Remember, no bank will give you that rate. Thanks for your comment.
Wow 18% per month. Thank you for the good idea!
You are welcome. You can give it a trial and see for yourself.
You just got a new follower
Wow ,,,, cool ,,, So if we have some Dogecoin or Bitcoin, we can lend it and make some money for us.
Yes. Poloniex is giving us what Bank could not.
What caught my eye most about your post the question is poloniex safe?
Well after my little episode I have not touch my account, I started if with the small amount of 100$ and built it up to $160 nothing to rave about just prefer to test the waters while still getting to grips on how it all works😂😂
About three weeks ago I tried to get on my account and the 2FA was enabled pitty it wasn't me that had enabled it! I know I know 2FA is standard sweeties, I just hadn't got round to doing it..
After contacting support it took them about 10 days to reply to my ticket after a few emails I managed to get my account verified and as you can imagine the account was wiped clean with 8 transactions in in the space of 4 minutes 😂😂😂 I laugh cause what else can you do ??
What leaves me curious though how me ? I'm a nobody a drop in the ocean what are the real odds of email and password am I really being that dense here in thinking that it could be a program that sussed This out ??? Or someone on the inside that can detect accounts without 2FA ?
Fact is I am so weiry of using it again!!!Hi @eaudiatu if time I read of being able to loan but is no surprise as being new to all of this😳
Nice post! Thank you!