Peer-to-peer lending is a reasonable way to make money because you are going to receive interest on the amount you are lending to creditworthy borrowers and it is indeed one of the best ways to make passive income for yourself.
Have you engage in peer-to-peer lending?
- Thread starter Reedex
- Start date
In this type of business giving out money to creditworthy borrowers would be the best bet.
That's where it pays to make lots of friends on Forums like this (and others). Just last week I made a loan with 30% interest per month (not annually) and I would not have had the confidence to extend myself that easily if I did not have the personal testimony from trusted friends.
No, engaging in peer-to-peer (P2P) lending is not a requirement. It is a personal choice based on individual financial goals and risk tolerance. Before making a decision, it is important to consider factors such as the potential returns, the risk involved, and the terms and conditions of the loan agreement. It is always recommended to thoroughly research and seek professional advice if needed before making a decision on P2P lending or any financial investment.
Start out with $1 and see if it works first. Where else can you make 30% a year interest. If you compound that 12 times your $1 becomes $30 and you will know it works. I started with $30 because a friend that told me about it has already been paid 4 times and I have confidence in her.
Peer-to-peer lending offers several benefits, including lower interest rates for borrowers, higher returns for investors, reduced barriers to entry, and increased access to credit for underserved communities.
That is certainly your choice. In this case I had another friend who had done business with loans to her and been paid several times. It was only $30 worth of Bitcoin that I earned free with another site with the potential to make 30% return profit in less than a month, so now I will do it again.
That's very encouraging, but don't you think that the percentage is quite high for anyone to pay? 30% is a huge percentage to receive as interest on a loan.
Absolutely true, but I have another close online friend that had been paid three times before she told me about it and I tested it myself with $30 I earned online for free, so I will take that risk after knowing why she is willing to pay that much. The money she gets from myself and others goes toward buying expensive mining rigs that she could not afford alone and our little loans combined fund the project so we all come out way ahead. We supply the capital and she supplies the knowledge and everybody profits. If she was only offering less than 1% interest (like a bank) I would not be willing to take that risk.
Of course you will need to choose wisely. Start by earning free money online to eliminate the risk of financial loss from your household budget.
As long as you are able to find a way to make it work for you, I believe that it is something worth giving a chance or a try since you have good faith in it. Once no one gets scammed in the process, it's all good.