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Author Topic: Coinlend.org - The Lending-Bot for Poloniex & Bitfinex  (Read 7603 times)

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Offline CoinlendTopic starter

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Coinlend.org - The Lending-Bot for Poloniex & Bitfinex
« on: July 05, 2017, 12:09:02 PM »

For all people interested in passive income and interest generation, I will present a new project of mine.
Everyone interested in generating revenue using Bitcoin and other cryptocurrencies will have come in contact with topics like trading, scalping and lending. The first two topics need a tremendous amount of time and sophisticated knowledge in that area to be profitable.
Bitcoin lending on the other hand is a passive approach with very limited risk. If you lend your Bitcoins on an exchange, you do not have to care much about the loan handling itself. The exchanges will ensure the repayment of the loan as well as the interest payment. On top of this, the interest rate for lending your Bitcoin is pretty high. Most of the time you can expect rates between 30-50% per year. Everyone familiar with the compound interest effect will know how powerful this effect works at this high interest rates.

We are currently a small team of cryptocurrency investors and we are lending out our coins for years now. Initially we started lending manually on the exchanges, but soon noticed how cumbersome it is to monitor and renew your loans all the time. That's why we created Coinlend.org. At first only for ourselves, but as we noticed that the fully automated lending is much more profitable than the manual lending, we now made it publicly available for free, so everyone can benefit from it.

Our goal was to make this service super simple. You just generate your API-Keys at Poloniex/Bitfinex and store them in your Coinlend Bot in a couple of simple and well explained steps.
IMPORTANT: There is no risk in providing your API-Key to Coinlend. There is no trading or withdrawal of funds possible with the key. So to use our service, you don't need have to trust us.
As soon as the credentials are stored, the bot will start it's work and lend all funds available in your lending wallets. All other cryptocurrencies which are supported by the exchanges can be lent via the bot as well.

To get a first impression about our service I will attach some images and the most asked questions. If you have additional questions, feel free to ask. Feedback is also very welcome.



What's the purpose of this service?


It is possible to lend bitcoins as well as other cryptocurrencies at very lucrative interest rates and limited risk at exchanges like Poloniex or Bitfinex. The difficulties in doing this manually are:

    * The interest rates are very volatile.
    * The loans can be paid back by the borrower at any time.

For the best possible revenue, it is needed to login at regular interval to manage and renew the loans. On the platforms there is an auto-renew functionality, which renews loans automatically, if they are paid back. The renewed loans are created with the same interest rate as the previous one. That's why they are now probably above or below the current optimal interest rate. Therefore, the loans are priced to cheap and potential interest is thrown away - or the loans are price to expensive and will not be taken by borrowers. During the time, the loan is not taken, you are missing out on interest as well. Here comes to Coinlend bot into play: The bot lends out all your funds for the best possible rates and this fully automated and 24 hours around the clock.

How does the service work?


Our main goal was to make this as easy as possible and create a simple to user interface. You just have to register an account at Coinlend and enter your API credentials for Poloniex and/or Bitfinex on the account page. A step-by-step guide can be found here (Poloniex) and here (Bitfinex). The Bot will then check your accounts on Poloniex and/or Bitfinex and create new loans with optimal interest rate if necessary.

What is the risk?

Storing your API credentials at Coinlend does not contain any risk. No withdrawal of funds or trading is possible with these credentials. Even with the slight chance that Coinlend gets hacked and your credentials get stolen - the hacker could not do anything harmful with them.
Which platforms are supported?
Currently we support the exchanges Poloniex and Bitfinex. Further, platforms like Quoine will follow in the future.

Are there minimum threshold for the lending amounts?

Yes, the Bitfinex API expects an equivalent token amount of $50. This means, the bot can only create a loan offer if this threshold is present on the funding wallet. For Poloniex the following minimum thresholds:

    Bitcoin: 0.01 BTC
    Ethereum: 1 ETH
    Clams: 10 CLAM
    Factom: 100 FCT
    Stellar: 100 STR
    Dogecoin: 100 DOGE

What's the cost of the service?

The service is free of charge. If you want to support us, any donation is welcome:
BTC: 1HNoRcK3hFBRi68KcCNzDoofiKyuj95FVB
ETH: 0x9abb086f01f144de4cd188b6a5ea6bd5445a92e4
DASH: Xp1xZfxYENAnAiMBCQYb6rD4idc3ad4Sm1


https://www.coinlend.de/
https://www.coinlend.org


Offline CoinlendTopic starter

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Re: Coinlend.org - The Lending-Bot for Poloniex & Bitfinex
« Reply #1 on: September 04, 2017, 01:42:14 PM »
Short Update: After some changes from Bitfinex, we reestablished the retrieval of interest via the Bitfinex API and therefore interest is again showing up correctly at Coinlend. The new API of Bitfinex allows us to get more detailed information and we will therefore show more details on the UI in the upcoming days. E.g. the interest generated for single days and more!

Also, we adjusted our color scheme a little:




https://www.coinlend.org/

Offline CoinlendTopic starter

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Re: Coinlend.org - The Lending-Bot for Poloniex & Bitfinex
« Reply #2 on: October 18, 2017, 11:20:32 AM »
Now it is possible to configure minimum interest rates > 100%. Just move the slider to 100% and an input field will show up. Here you can manually enter your minimum interest rate:





Offline CoinlendTopic starter

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Re: Coinlend.org - The Lending-Bot for Poloniex & Bitfinex
« Reply #3 on: October 26, 2017, 07:44:47 PM »
Eidoo (EDO) lending now possible via Coinlend!


Offline CoinlendTopic starter

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Re: Coinlend.org - The Lending-Bot for Poloniex & Bitfinex
« Reply #4 on: December 08, 2017, 04:39:08 PM »
You can now view the interest generated every day for every Coin in the Coinlend UI:



Offline CoinlendTopic starter

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Re: Coinlend.org - The Lending-Bot for Poloniex & Bitfinex
« Reply #5 on: January 01, 2018, 10:39:08 PM »

Coinlend now supports Bitcoin Gold (BTG) lending!



 

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