Read our review of the LootBear CSGO skin rental site and find out more about this original legit skin trading site. Some of the topics covered include how to rent skins, how to earn money on LootBear, using promo codes for discounts and pros and cons of the site.
LootBear has come up with a unique concept for CSGO skin trading. As with many sites you can buy and sell CSGO skins at LootBear. Where they differ is that they actually rent CSGO skins. Basically what you are doing is making a temporary trade for a skin for a fee. Now CSGO players can use a rare skin that they couldn’t otherwise afford while the owner of the skin can generate income without having to sell it. Users who want to rent skins pay a monthly subscription fee that gives them access to the skins available for rent. LootBear does offer a free 8 day trial period so you can see the inventory that is available and try out the service.
LootBear provides monthly subscription plans for users who would like to rent skins from the site. Providing a promo code will entitle you to a discount on the plan that you choose. Enter the LootBear promo code when registering and you will earn a 10% discount on the plan you choose.
All the support services for LootBear can be found in their “Help Center” located at help.lootbear.com. In the Help Center you will find a LootBear FAQ for Rental as well as a separate FAQ for Supply. LootBear handles any issues through a support ticket system. Just click on the support icon located at the lower right of the help page and submit your inquiry. LootBear can be reached via email at Team@LootBear.com. They also have active Facebook, Twitter and YouTube accounts.
Renting Skins at LootBear
Renting CSGO skins is a three step process and there are some fairly strict requirements in place.
- Create an Account: First you will need to register to the site. Selecting an item to rent will initiate the process. After registering you must provide a valid and verifiable payment method. There are 3 levels of security at LootBear. The first level is attained by providing payment method, phone number and address validation. To reach the second level you must send a photo of a picture ID and card ownership details. Third level security is granted to long term members with good rental records. The higher your security level is, the more items you can rent simultaneously and the better the items you can rent. Only debit and credit cards are accepted for skin rental.
- Select a Package: LootBear has three different packages available to renters ranging in price from $9.99 up to $49.99 monthly. Details of the packages are available on the site. You will be provided an 8 day free trial before committing to a plan
- Rent Skins: Navigate to the menu and select the “Browse” tab. Select the item you want to rent. You can see the items you have rented and payment due by clicking the “Rentals” tab. You must have an active Steam account in order to rent items.
The initial process may appear a little complicated but steps 1 and 2 only need to be completed once.
How Do I Remove Credit Card from LootBear
To remove a credit card from LootBear, first navigate to your account settings. Click “Remove” next to your card information. That’s it. If you currently have items rented you won’t be able to remove the card until the item is returned. You won’t be able to rent skins once the card is removed. If you replace the removed card with a different one your security level will be set at level one until you resend updated verification photos.
How Long Does LootBear Verification Take
The time it takes to verify an account varies. For users with a smart phone verification can be completed in a matter of minutes. The process can be initiated by entering the security number on the screen to your mobile device or if you have a QR code scanner on your phone by scanning the code. If for some reason you can’t complete the process on your mobile device or you don’t have one, you will need to request manual verification which can take up to three days.
LootBear Won’t Let Me View Trade
There is sometimes a delay in trades between the LootBear site and Steam. Give it a reasonable amount of time and check again. In most cases the items will appear. If for any reason they fail to show up contact customer support for assistance.
How to Withdraw Skin
To withdraw a skin from LootBear your Steam inventory must be set to “Public” and you will have to provide your Steam Trade URL to the site. If you are a supplier and the item is currently rented you will be unable to withdraw. Any trade locked item also cannot be withdrawn.
Make Money on LootBear
You can earn money from CSGO skins that you own by renting them on LootBear. Owners (suppliers) of skins are paid a fee for renting their skins to other players. Fees are based on the value of the skin as determined by Steam Analyst prices. In order to rent their skins suppliers must deposit them at LootBear. LootBear has a strict verification process for renter and guarantees to reimburse the market value of any skin that is lost or replace it with another skin of similar worth. The steps to earn money supplying skins are as follows:
Deposit skins to LootBear: On your “Profit” page click on “deposit” and select the skins you would like to rent out. After selecting the items click on the “Deposit” button at the end to receive a trade offer. You can set the amount you want to charge in the items settings.
Withdraw Revenue: There is a $20 minimum withdrawal limit and revenue from skin rentals can only be withdrawn through PayPal.
LootBear has currently paid out almost $2.5 million to subscribers.
Is LootBear Legit Or Scam?
LootBear has taken a lot of steps to ensure the safety and security of their users. One of the biggest sources of complaints at LootBear is their strict verification process but this is necessary to avoid scammers taking advantage of users. They have made the effort and have met the requirements to become compliant with the EU General Data Protection Regulation (GDPR). They also come recommended by many of the largest gaming YouTubers. LootBear has over 10,000 active paying subscribers, many of them who are repeat customers. In addition they have a 100% refund policy for any supplier skins that are lost. There is no doubt that LootBear is completely legit and a safe site to deal with.
Pros and Cons
LootBear has plenty of positives that we found on the site including:
- Players can rent skins. A unique idea that makes it possible for gamers without a big budget to play with rare and expensive skins
- Earn money from skins: Users can earn money renting skins. Previously you had to risk skins gambling or sell them outright to have a chance to earn. Allowing skin owners to rent out skins also increases the inventory of skins available to rent.
- Refund policy for skin suppliers
- Very security conscious
A few things that we didn’t like about the site:
- Difficult to locate the FAQ. The FAQ itself is quite good but it isn’t easy to locate on the site.
- Roaring bear logo at the bottom of the home page. Nitpicking now. The roaring bear was cute the first time but does it have to roar every time a user scrolls to the bottom?
LootBear came up with an idea that has been well thought out and executed. The ability to temporarily “own” expensive skins for a low price and provide a means for skin owners to earn is unique and based on the number of subscribers quite popular. LootBear is one of the best CSGO trading sites due to its original concept as well as it security consciousness.
If I place my skin on Lootbear for rent do I lose it?
No, the whole point of the rental system that is offered is that you can generate money from your skins without having to sell them.
What happens to my subscription if I don’t like what is on offer for rent?
The site provides you with an 8 day free trial of the system so that you will be able to see what items are there for you to be able to rent.
Why do I have to provide so much information to be verified?
The site takes security very seriously to ensure that users cannot scam renters out of their skins. Only by reaching the highest level of security will you be able to access the more valuable skins for rent.
How much is the subscription to rent items?
There are different levels of subscription and monthly rates vary from $9.99 up to $49.99.
Author: Mary S Colbert
Site Editor at csgobettings.com
Mary S Colbert is the chief content editor at csgobettings.com. She has 8 years of experience as an e-sports analyst with a particular focus on CSGO and uses her expertise to write on the topic and pass on her knowledge. Many of her informative articles can be found here at csgobettings.com