You are viewing a single comment's thread from:
RE: Art Vandelay's - The Daily Vandelay - Vandelay Industries' Total Di©k Move #1
If it's just sitting an exchange, you're getting nothing from it. That's why you cover your a$$ with positions in case it goes up or goes down. Monero currently lends at 14% annually. That's not too bad. But you could let the exchange have it for 0% if that's what you prefer.
The risk of letting the coins sit on the exchange isn't worth the dust in return, I'd say. And then there's the time spent setting up, managing, and monitoring the bot as well! If you have coins sitting on Poloniex, I suggest setting an optimisticly high rate on the lending page. Once in a while, a big short hits and the 1-2% daily rate you can get more than covers whatever you might've made at 0.001% in the mean time. Very low maintenance that way as well.
I prefer to play it long myself. There were lots of 1%+ rates back when BTC took off. I don't have a bot doing things for me. I just pointed out the site that displays the lending rates like Poloniex should be doing themselves, but don't for some reason. When you notice a lending rate increasing though, it's been my experience that somethings about to happen. Might be a tip to sell as shorts outweigh the longs in the margin arena usually.