It is a feature that we can find at Yobit trading platform and, as before, it is about lending coins to other users. However, it has several important differences regarding to the classic type of lending that we can apply on other platforms. These can be summarized as follows:
• Interest rates are not negotiated (trading), but they are given beforehand.
• The quantity requested is unspecified to us, so if the person who creates the demand collects the quantity he/she wants, it is not possible for someone else to participate. It is a very important feature, since if we are buying a coin just in order to get profits by lending it, there is a risk that we will not be able to lend it in the end. However, demand is still open because another lenders may withdraw the amount they lent.
• We can withdraw the amount that we have lent whenever we want, without having to wait for the agreed period time to reach to its end. However, that means that we can’t claim the gains from interest rates for that period. So, for example, if we lend Doge with an interest rate of 0.1% per day on 10/04/2018 at 14:00, and we want to stop lending it on 18/04/2018 at 20:00, the interest rates which will be credited to our account will be those that we will have taken until 18/04/2018 at 14:00. As it concerns daily lending this may have a slight impact on our desired earnings, but the monthly or even weekly differences are large.
• It is recommended to buy well known and established coins for lending and not the relatively new and unknown ones. The latter tend to lose too much of their value early on.