What is BTCjam?
On BTCjam is a peer to peer Bitcoin lending and borrowing platform. Here you get personal loans and investing opportunities. With more than 2029 satisfied borrowers, 19732 loans funded and 17 Million $ total amount lend, BTCjam is the biggest player in the bitcoin lending business!
BTCjam is in our opinion the lending platform with medium risk and good yield. Take care, there are no risk free earnings!
If you need more information on lending and borrowing, than you should definitely check out our article on lending sites.
More information (Profile, Pricing, News) about this Cloud Minining Service
BTCjam | Bitcoin Lending
BTCjam was founded in late 2012 in order to help people have access to affordable credit. In developing countries like Brazil, interest rates for personal loans can reach over 200% per year, making credit difficult if not impossible to be obtained.
In October 2013, BTCjam was accepted into the 500 Startups accelerator program and secured seed financing from Ribbit Capital, 500 Startups, FundersClub and Bitcoin Investment Trust.
BTCjam moved from Mountain View to San Francisco in February 2014 and began expanding the company. By the end of 2014, BTCjam had facilitated bitcoin loans in excess of $10 million dollars in value with more than 100,000 users in over 200 countries.
BTCjam secured their Series A fundraising round in January 2015, led by Foundation Capital (investors in Netflix and Lending Club), Ribbit Capital, 500 Startups, FundersClub, Bitcoin Investment Trust and Pantera Capital.
Borrowing on BTCjam
As they advertise getting a loan on BTCjam is easy; this is true. You can get a fast and easy loan application in just some minutes. Most borrowing happening on BTCjam is on one of the following reasons: Credit card refinancing, mining, trading or some kind of business.
Investing on BTCjam
BTCjam try to improve on a daily basis. But this is something they don’t always succeed. There are still plenty of scammers trying to get our coins. If you take your time trying to figure out their profiles and business ideas, you can easily find out who is a legit borrower and who not.
The credit profiles of the lenders are categorized from A to D. Risk and reward are linked. Meaning, the higher the risk is, the higher the return rate will be. BTCjam adverties a overall repayment rate of about 90%.
If you plan to borrow – then you should be as straight forward as possible. Try to explain what you are going to do with the Bitcoins and clarify how you will make more Bitcoins for the investors.
If you plan to lend – then you should take your time and investigate the offers. If you invest smartly, you might be able to earn good percentages. Check out if the borrower has positive reputation and most importantly, how often has he repaid something. If they have never repaid anything and have no loan activity, then you need to be extra careful. Also ASK QUESTIONS! You can ask them under their funding page everything you want to know – i.e if they state they want to improve their mining rig, then ask for pictures.
As always, we DO NOT RECOMMEND to invest in autoinvest functionalities!