Bitcoin Forum

Now a days if you check bitcointalk lending section most of the threads useless meaning more than 70% people requesting loans without reading forum rules. Very first post it self request for the loan and these people are not new people they know but still they try their luck. With this lending section become full of scam thread so I was thinking is their any other safe places to earn some interests on our BTC.

In this thread we can also give suggestions for how to improve bitcointalk lending section to minimize scam threads.

Just google "bitcoin lending" and there are many hits.  I would say just keep this in the Marketplace child board.  Just because there are scams there doesn't mean it can't still be used.  A lot of lending has to do with establishing reputation.  That's one thing about being on these boards long enough is that you can build that relationship over time and have better business transactions.

But the sites are plentiful outside these forums:  btcjam, btclend.org, and btclendingclub just to name a few.

The lending section is a good place if you want to remain anonymous. Other popular options are BTCJam and BitLendingClub.

The most trustworthy bitcoin lending platforms are btcjam and bitcoinlendingclub. Btcjam pays up to 19.3% and bitcoin lending club around 12% interest. Be careful if you lend on btt, many scammers lend coins and never pay back.

Are these annual rates? Sounds like such a good deal it could be too good to be true! What's the default rate?

btcjam and bitcoinlendingclub is known for bitcoin lending but expect to submit tons of requirement and documents before you can ask for a loan.

Yes those are annual rates. BTCjam is the most trustworthy one and higher paying one, they are insured and a bitcoin foundation silver member.

there are old users that are still lending bitcoin, if you want to get a loan in bitcoin you shouldn't have any problems if you provide collateral

I to believe that lending section should have some restrictions on new users in creating new threads for asking loans. If you notice in recent history most of new threads asking for loans with new accounts. Since new accounts are not a good collateral then why one should allow these new users to create new threads in lending section?

If forum allow to create threads only after reaching jr member account and above can reduce scam posts in some extent only in lending section

This is not a bad idea! Every fime I get into a lending or currency exchange section, I get overwhelmed by all of the newbies accounts. I mean, we don't need to stereotype, but 90% of those are just looking to screw people over!

if no desperate need and good behavior you can try the btc jam no?

i agree with this there are a lot of newbie asking for loan..
but they dont now that no one will give loan without colateral..
lending section become something like newbie section..
i will be happy if only jr member or member and up can only access that section

instead of erasing the problem all at once you should try and fix it!

i mean there are obvious rules and precautions that anybody who is lending or borrowing bitcoin should take to be safer. for example requiring a valid collateral or using trusted escrow services.

and those who don't pay attention to these safety points (which can be found on the top of the lending section by the way) deserve to get scammed.

What kind of documentation you need to give to deliver loans? (not to ask for them).

I want to put my Bitcoins to some sort of use and try to grow them, but the problem is i've read people get scammed in BTCJam even by A+ approved borrowers. Hows this case? Why would you scam someone after giving all of your details? (to be A+ approved you need tons of details).

Im also interested on BTCJam. p2p lending is the future and one of the biggest disruptions that Bitcoin will deliver. Just imagine how mindblowing it is that it is technically possible to loan $1.00 to 100 people if you wanted, instantly and with low fee. From tiny amounts to huge amounts without banks involved. This is incredibly awesome to anyone that is familiar with traditional banking system.

I don't think you need verification to lend.

As for scammers, they could easily get fake documents to become verified. Then when they scam, even if someone tries to go after them, they don't lose anything of value. That is why in order to borrow here a valid collateral is required and ID's are not accepted.

Is there a p2p loan site safe enough for me to try?  ::)

You said it correctly. Hence in this forum the most people use their accounts as a collateral but fail to repay then lender can liquidate those accounts. However now the issue is lending section is fully occupied by scammers so how to minimize this issue is the question. OP has picked up a good topic.

I also think should not allow newbies to create any threads in lending section. Any one else support this?

Easily? it's a big risk to fake your documentation and a crime.. I don't understand why someone would do this unless they were trying to get away with it by doing a super big loan scam.
Ideally, they should ask for video verification too. That's a video where the guy is holding his ID or something, or a skype conversation to verify it.
We need those things for the serious borrowers, it just sucks getting scammed. If p2p lending is the future we better decrease the scamming rates otherwise it will be seen as a joke by the traditional banking guys.

Interested in giving BTCjam a go.

You can try btcjam.com or the local subforum. When you only lend out with a proper collateral then you should be fine. And on btcjam.com try only to lend out to persons that are proven to pay back. And don't even lend out to them when they suddenly take a lot and high loans. That most probably is an exit scam then.

I wouldn't recommend the subforum since many newbies and scammers try to get loans and give out their useless accounts  as collateral. Always try to be careful and invest in trusted users with good reputation.

You can loan bitcoin from btcjam.
Search for a good offer with low interest.
You can loan also from this forum,if you are a valid collateral.

I went to BTCJam just to have a look around. They ask for a lot of personal information which not everybody is comfortable giving away.

Is their any way we are sure that we will get back our loaned money in btcjam? can we ask user for some collateral?

Since i have read that even very good rated people also doing scam over their.

the key is not to keep your eggs in the one basket, to reduce risk.  lend tiny amounts to many people that you evaluate as low risk.

Maybe you can try somep peer to peer loan programs, but be careful and don't get scammed.  ;)

Btcjam, but you must completed your information like id card,your pic,address, salary, and other

you can try btcjam but I still think that this forum (the lending section of it) is the best place that you can borrow or lend bitcoin . because you don't have to give any personal information and as long as there is a valid collateral and a trusted escrow , everything will be fine.

I think in btcjam jam lender do not have any option for asking collateral because they have some grading system and their system will verify the receiver identity and provide grading for individual. However it doesn't guaranty receiver will payback loanded amount. Still receiver can scam the loaned amount. I think it is not a fully safe place to loan.

You're right, you can't ask for collateral on BTCjam which is why it is very unsafe and you'll most probably end up losing your money if you provide any loans there.

Even if you not like it but the lending section of this forum is the safest place for lending and when you make a thread mention in the OP that you will not give out any loans to anyone without any collateral and/or rule out that newbies can even apply. If you're careful and take proper collateral there is no way you'd scammed.

another reason why it's better to use the bitcointalk loan section instead of that garbage of btcjam, which is full of uncontrolled scammer, not matter the ranking

here you're more secured by scam buster and good escrow, moreover more valuable collateral

I joined btcjam as a lender so do not have to give out all the personal information part. I gave a very small loan to A+ lender over 60 days to try it. Will see how it goes. Do not think it a good idea to give to the D rankings despite the high interest rate.

BTCJam and BitLendingClub are good choices.

If read that, even A+ rated lender also scammed so it looks completely on your luck. So the best strategy is you spread out your loan amount to many small quantities so that you are reducing your risk level.

Your 100% correct but now a days bitcointalk loan section becoming scam section because no control over a newbies. If you check first 10 threads their most of them requesting loan with new accounts and no other collateral. So looking for some good alternative

before the first destination of newbies is Beginners and Help section, now it's the lending section. All want's to ask for loan

I dont really think btcjam is a good place, since most people default and no consequences follow besides them doing the same thing on another account.

But, I know a few who still stick with the lending thread or just eye on people who need btc and see what they have as collaterol instead.

Even people know btcjam is not a safe place then still people suggesting this place for lending. Surely now a days bitcointalk lending section is full of no use threads. 

I would stay away from BTCJam and only deal with trusted members of btt loan section and avoid dealing with newbies and users with low trust ratings. BTCJam is full of scammers who more often than not default on their loans and have zero consequence.

So only good place for lending bitcoins is bitcointalk is that correct? - Then we need some improvements in that threads not to allow newbies to create any new threads.

I don't think that's a valid reason. You simply need to only accept collateral that is worth it's money. If newbies are scammed by this then they would be scammed another way too. Bitcoin is a scammers paradise for sure and everyone has to learn to life in it. So i think the subforum is as safe as other places. You need to be very careful everywhere.

You might want to be cautious with very good rated people if they start to take a lot loans or high ones suddenly. Might be they planned their exit scam with good ratings and then it's time to close the bag.

You have to be cautious everywhere when it's related to bitcoin.

I'm not sure that this is a good strategy. I mean how much percent profit do you get? 10%? And when only one person, ouf of 10 you lend money to, is defaulting then you already lost more than you had before you started lending out.

So i think you should really not take a little bit higher risks only to increase the amount of people you lend to.

I have made some small loans on BTClending as well as BTCjam. Will watch closely and compare. Have spreadsheets for both so should be easy to monitor.

Try Poloniex, poloniex is the best trading platform but you can lend your BTC

If you google you will find many sites but in most of them we can't ask for collateral for our loaned amount so it comes with bit risks

Hi,
You can loan bitcoin here on forum.
Go to lending section and find more members with requsts.
Don't lend money to newbie members.

You can loan at the bitlending club or at the BTCJam; these are the two best rated lending sites.

I think you didn't read the complete thread before you suggesting BTCJam - there are few posts already in this thread saying that BTCJam is a quite risky for lending because even best rated people also scammed lenders. Do you have any suggestions on how to avoid these scams since you suggested this site for lending?


OP already said in his post that, in this forum now a days more newbies are requesting loan so thread is full of scam people so he is asking for any other alternative for lending.

Hi!

We offer Bitcoin Loans with altcoins as collateral. If you hold altcoin that you dont want to sell this is a good solution.

www.cryptops.net (http://www.cryptops.net)

If you need help you can contact us at cryptopawnshop@gmail.com or trough the web contact form

Best regards!

BTCjam is most popular for people, who need BTC loans  ;) I do not like  BTCjam validation system, but there are a lot of people, who can agree BTCjam rules  ;D

I like btcjam.