Is p2p lending safe and profitable?

[Highflyer]

P2P exchange is safe and profitable but at the same time you should be on the lookout for scammers, the P2P apps like Binance only serve as Escrow between exchangers and the seller.

 

[adazeez1995]

There are alot of P2P platform that have their own modalities of operations. Before funds are been lent to you. There are some important and sensitive information you would provide which would prove useful to the funder or investor in the case you might default in payment.

 

[Ezzyoj]

P2P is not bad, but good things and bad things have all the possibilities of happening. Know your peers and just jump into financial friendships with everyone, money is something that can divide people and also bring people together. One must be very care when it comes to 2P

 

[Nurudeen]

People 2 people trading is very legit and profitable. This is a good way to trade crypto currency exchange Business if you think you are unable to but any crypto currency right from your country and just like what the Nigerian Government just did to Nigerians
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People 2 people trading is very legit and profitable. This is a good way to trade crypto currency exchange Business if you think you are unable to but any crypto currency right from your country and just like what the Nigerian Government just did to Nigerians

 

[Adeyoola7]

While borrowers turn to P2P lending in order to apply for a loan, investors show up in order to secure higher than average returns on their investment capital. Since there is generally no middle man involved in these transactions, fees are usually lowe

 

[Psalmsavatar]

P2p lending pattern is too risky. The P2P is based on trust of each other, this normally do not include middlemen, however this have to be decided if the other one is trusted and not a scammer but I can't fall into it again.

 

[Bookwormlux1]

Is p2p lending safe and profitable?
P2P lending services bring together fund owners (investors / lenders) with borrowers (creditors / borrowers) online, even though previously P2P lending services have assessed and analyzed borrowers, then determined which borrowers are eligible to apply for loans. It is the peer to peer lending platform that will determine the level of risk of the borrower. What I'm worried about is if the borrower defaults or can't pay off his debt, maybe our money will be lost?

The exchange platform should serve as an excrow to make sure all transactions are successfully processed before releasing Money to the both parties. The defaulters should also be dealt with to serve as a deterrent to others.

 

[Akinwale701]

Is p2p lending safe and profitable?
P2P lending services bring together fund owners (investors / lenders) with borrowers (creditors / borrowers) online, even though previously P2P lending services have assessed and analyzed borrowers, then determined which borrowers are eligible to apply for loans. It is the peer to peer lending platform that will determine the level of risk of the borrower. What I'm worried about is if the borrower defaults or can't pay off his debt, maybe our money will be lost?

I do not think it is safe, even person-to-person trade of cryptocurrency has a higher percentage of failure let alone of person-to-person lending and borrowing. It's very risky because some people are used to borrowing and not paying back.

 

[Mahnoor]

While borrowers turn to P2P lending in order to apply for a loan, investors show up in order to secure higher than average returns on their investment capital.

Since there is generally no middle man involved in these transactions, fees are usually lower. Meanwhile, interest rates available to borrowers are often lower than rates offered by traditional banks as well.

 

[Chumzy]

It would actually depend on who the other pair is and how you trust him. Some people make come out looking really calm and nice but then they are most likely not. One has to be careful and look closely because many are not like they say.

 

[Setho]

I tend to absolutely love the idea of peer to peer markets especially the one of binance. I think an escrow should be made that ensures transactions across both ends are completed before the system then pays the both parties. Defaulters trying to sabotage the system should be properly dealt with as well.

 

[Caali]

Do this Only if you can afford to lose the money you loan out. To take the place of a trained consumer or commercial lender you’d need to be pretty aware of how to do it with a much better than average (above 95%) chance of getting your money back.

 

[Kelly5]

P2p lending platforms are really legit and okay to transact with so long as the platform is a registered platform by law under the relevant financial institutions supervision. You should be safe doing transactions with them and not ronworry yourself about defaulters

 

[kayode10]

Is p2p lending safe and profitable?
P2P lending services bring together fund owners (investors / lenders) with borrowers (creditors / borrowers) online, even though previously P2P lending services have assessed and analyzed borrowers, then determined which borrowers are eligible to apply for loans. It is the peer to peer lending platform that will determine the level of risk of the borrower. What I'm worried about is if the borrower defaults or can't pay off his debt, maybe our money will be lost?

It can be very dangerous at times to engage in peer-to-peer lending. Some people have bad credit record as a result of that when you lend them money, they might abscond with it and never plan to repay back. wherever needs money should go to financial institution and follow the right process to secure a loan or a credit.

 

[Abdul Naveed]

Although borrowers turn to P2P loans to apply for a loan, investors offer a higher-than-average return on their investment capital. Since these transactions usually do not involve a middle man, the fees are usually lower.

 

[Nabeel119]

P2P platforms are called “peer to peer” because they bring regular people – peers – together to participate in two sides of the same transaction. While borrowers turn to P2P lending in order to apply for a loan, investors show up in order to secure higher than average returns on their investment capital.

Since there is generally no middle man involved in these transactions, fees are usually lower.

 

[Alexandoy]

If P2P means person-to-person lending and borrowing that is happening in our country with the so called micro financing. If you need $20 quick, where can you borrow but from the micro lenders. They give you the $20 right now but you have to pay $22 next month. The interest is high but the system is effective that micro lending is a big industry here. With the online P2P we cannot trust any website about depositing money unless it is a registered business.

 

[Mawome]

I don't really know bro , some of the stories of p2p lending always turn out to be something you don't expect from the person you lend the money to, so for it all depends on the type of person you are dealing with, if it's a trusted someone and you know him very well please go ahead, a good person will always appreciate your help.

 

[Lyrrex]

I don't think it is profitable, but is actually safe based on the trust you have for the person, once the person is one who you can actually trust, then p2p is safe, but profit will depend on the interest agreed upon between you both

 

[Sana Diyar]

There are alot of P2P platform that have their own modalities of operations. Before funds are been lent to you. There are some important and sensitive information you would provide which would prove useful to the funder or investor in the case you might default in payment.

The latter is a way to raise money for a project, without having to resort to venture capital.
The difference is that with crowdfunding the end goal is to fund a product, and usually receive the product in return, as in platforms like Kickstarter, while with P2P lending the investors are buying parts of loans with the aim of receiving back principal plus interest (the profit).