Earn interest on Bitcoin, Ethereum, and more.
Automate your Poloniex margin lending and get higher returns with less effort.
Margin Interest Rates
Automate Your Lending in Minutes
This getting started video will show you how simple it is to connect your Poloniex account to our lending bot service.
What is lending on Poloniex?
As a Primer, please read the Poloniex document about Margin Trading
Why should I automate my lending?
In short, it's more profitable and less work than lending manually. When you lend to margin traders on Poloniex, your funds are dispersed as dozens, or even hundreds of separate loans. You will have loans maturing almost constantly and idle funds if you don't re-lend them. Using a lending bot ensures that all of the funds in your lending wallet are constantly deployed at an optimal rate.
Why do you offer a lending bot as a service?
We understand that there are many non-programmers that would like to automate their lending.
How does it work? Is it dangerous to give you API access to my account?
The Poloniex API is structured so that you can provide restricted API access to your account. When you disable 'Withdrawal' and 'Trading' API access (which you will do as part of your account setup), our bots can only instruct your account how to lend. We can't trade on your behalf or withdraw funds from your account.
What kind of returns can I expect?
Rates fluctuate constantly and vary greatly depending on supply and demand for each cryptocurrency. See https://poloniex.com/lending for reference. Current BTC lending rates are in the range of 10-15% APY (but calculated daily by Poloniex)
What do you charge for this service?
The fee for this service is 10% of any bot generated loan interest. You can deposit Bitcoin 'Bot Credits' to keep the bot active. Since we don't have API access to withdraw funds from your Poloniex account, these payments must be initiated by you. You can start using the bot immediately with a 0 balance, and deposit funds only if you like the service and wish to continue using it. The service distinguishes between loans you've placed manually, and loans generated by the bot, so you wont be charged for any loans initiated without the bot.
What are the risks?
Again, please read the Poloniex document about Margin Trading to understand what you are doing. The main risks are:
- Poloniex becoming insolvent
- The traders you are lending to losing all of their funds (Poloniex safeguards against this, but there are circumstances where these safeguards could fail)
- The currency you're lending in depreciating significantly while your funds are deployed
Don't invest / lend more than you can afford to lose. Cryptocurrency is new, uncharted, volatile, etc. We simply configure and deploy bot software. We do not have custody of your funds and assume no responsibility for their loss if something goes wrong.
What if I'm unhappy with your service?
Simply remove our API access by deleting your Poloniex API key.
What if you stop providing this service?
If we stop providing this service, the bot will simply disconnect from your account. Your existing loans will mature and you can go back to lending them manually. In this scenario you can remove our API access by deleting your Poloniex API key.
I have other questions!
Reach out to firstname.lastname@example.org or request an invite to our Slack channel.