Pinned to Domestic and Global News on Pinterest

Description: How to earn interest on your Bitcoin Magnr Lending Bitcoin is a bit like the wild west of finance. If you want to be the one walking away towards the setting sun when the dust settles you have to be extra careful as Bitcoin scams and ponzi schemes are everywhere. Unfortunately these scams often work and many investors are left at the bottom of the pyramid holding an empty wallet where their bitcoins used to be. We want to make sure that this does not happen to you and as so we are going to show you some examples on how to get interest on your Bitcoin without falling victim to these elaborate schemes that seek to rob you of your beloved coins. Before we start a few guidelines would be to stay away from any model that offers ridiculous interest rates like 1% per day or 10% per month. The same can be said for any model that is not transparent on how they get this interest or that simply state that profits comes from trading. Finally do your research. A simple google search can make the difference. There is also a very good thread on Bitcointalk listing some known scams . This is a four part guide on how to earn interest on your Bitcoin from reliable sources. The first part was on how to lend cryptocurrencies using the Poloniex leding feature and automating it with the Poloniex lending bot (without fees). In this second part we are going to talk about Magnr lending. The third and fourth part will refer to P2P lending. Be aware that these websites are third party services and that you will be entrusting your funds to them. Although these are very reputable sources there is always the possibility that your funds will be lost in the event of an hack inside theft etc.. So if you want to take no chances just keep your Bitcoin in a private wallet and keep your private keys safe. If you do decide to invest however it may be a good idea to spread your coins around the various places we discuss. Like they say dont put all your eggs in one basket. Magnr Lending Magnr is a Bitcoin trading and savings platform. Much like Poloniex it allows users to trade cryptocurrencies with leverage. This leverage comes from users that open a Magnr savings account. While giving a lower APY than Poloniex lending Magnr is completely automated meaning that you do not have to post constant loan offers nor do you have to host a lending bot on your computer. Active since 2013 Magnr secures funds using BitGos technology using multiple private keys and and a hierarchical address structure. All web traffic data is communicated over SSL 256-bit AES encryption channels. Lets get started with Magnr! Step1: Click here to go to Magnr Step 2: To register an account simply enter your email (1) your password (2) and click Sign Up Step 3: Activate your account by clicking the link send to your email Step 4: Log into your account. Click Login on the right upper corner Step 5: Enter your personal information and click Sign in (dont forget to enter the captcha) Step 7: Once inside your account all you have to do is transfer Bitcoin to your savings account. Click Deposit Bitcoin on the Savings section Step 8: Now simply send the bitcoins you want to invest to the address shown and confirm your deposit when done. After confirming your deposit youll be shown your incoming transactions. After the sixth confirmation your account will start earning interest which will be paid out periodically every month as so: Thats pretty much it! Once you want to withdraw your profits all you have to do is click withdraw on the Savings account. Then just enter the amount you want to withdraw (1) and the address (2) you want to withdraw it to then hit Send Thats it! Now just sit back and watch your coins grow with Magnr If you want to take a stab at Trading Magnr also allows you to do so.If youre not proficient in trading we would advise you to read extensively on the subject and of course never invest more than what you can afford to lose. The APY for Magnr is usually between 1%-3% which is considerabily lower than what you get while using Poloniex but its also a steady and automated investement. On the next part of this tutorial we are going to cover peer to peer (p2p) lending on Bitbond. Stay tuned! The post How to earn interest on your Bitcoin Magnr Lending appeared first on Deep Dot Web .
By Frankie Cordeira Jr.
Pinned to Domestic and Global News on Pinterest
Found on: http://ift.tt/2hsjdvC