What is Poloniex?
Poloniex is a 100% crypto to crypto exchange website which is based in the Wilmington, DE USA and lunched in early 2017. Now, Poloniex.com is one of the most trusted crypto currencies exchange or trading websites. If you’re a trader this will be a great site for you.
Poloniex supported Coins:
|Coin Symbol||Coin Name||Coin Symbol||Coin Name||Coin Symbol||Coin Name||Coin Symbol||Coin Name|
|ETC||Ethereum Classic||SBD||Steem Dollars||MAID||MaidSafeCoin||XMR||Monero|
Poloniex divided into 3 main tab, Exchange, Margin trading and Lending tab.
- Exchange – In this tab you can buy and sell any supported coins mentioned above. To earn money with this tab you need to do the buy low and sell high strategy.
- Margin Trading – in this tab you can also buy and sell any supported coins mentioned above the only difference you going to use a loan coins or borrow coins offer by those people who lend their coins in Lending tab.
- Lending – tab where you can lend your extra coins to earn extra by putting interest on it.
How to get passive income thru Poloniex Lending?
As per explanation above, you have option in Poloniex to lend your extra coins to earn passive income. Lend your coins and you’re able to earn around .03 to 2% of interest based on current rate in Poloniex as early as 2 days. This option is great for those user/s doesn’t have idea in trading or afraid to take the risk in trading.
Is Lending in Poloniex is Safe?
I can say yes as Poloniex ensured that the borrower has enough coins to pay their borrowed coins with interest. Poloniex doesn’t allow the borrower to borrow coins if the amount is greater than their deposit coins and they can’t withdraw those borrowed coins.
How to Lend coins in Poloniex?
- You need a Poloniex account, so register if you don’t have yet @ https://poloniex.com
- You need to deposit coins on your account, 0.01 BTC is the minimum amount you can lend.
- Once you got deposit coins on your account, you need to transfer those coins from Exchange to Lending. To do this simply click on Balance then Transfer Balance
- Once your coins is transferred into Lending, you can create a “Loan offer” with your own desire interest rate.
- The great feature of Poloniex is you have option to “Auto Renew” your existing Loan offer, so you don’t need to monitor it everyday. It’s a self generating income for you.
How to get Bitcoin to deposit in your Poloniex account?
Best way to get bitcoin is to buy it from some exchange site. I knew one exchange site that you can use to buy bitcoin using other digital wallet or Credit/Debit card. I tried this website myself and I bought bitcoin using my debit card and the result is instant. I received my bitcoin in just few minutes and deposit it thru my Poloniex account then start my Lending business 🙂
the website I’m talking about is Paybis.com, select the image or banner below to visit their website.
Happy Lending to everyone!!!