Bitcoin Forum

I use BTCJam and has 500% return. Who here uses? Is good? Whats the best tips?

What I know is BTCjam is full of scammers and even many highly graded members also scammed. So I don't recommend to use that site if you want to lend anyone. As long as you can control a collateral then it is a good option to lend otherwise don't go for it.

BTCJam is more segure than here, because you can see the amount a borrower have paid, verified data and other security tips.

Yes you are right, but still there are risk on there because you make investment in lending business. I have registered on there but i don't use their service right now because the verification are very long time, and today i just use loanbase more simple than btcjam in my experience.

Too long? My account was verified (ID and address) in less than 2 days.
All people I've interacted in BTCJam has proved me as trusted people.

i am not using btcjam ac now . because two person scammed me . one of the person not returned my btc and other person hacked my account and makes a loan of 1btc at his bitcoin adress .

Is simple protect your account: you can use a password app like KeePassX to store your password, and then generate a 64 characters password for BTCJam and then save. Other tip is use two factor authentication. For avoid scams, read carefully the profile completness, the credit letter (preferred is A) and the Bitcoins paid by the borrower.

Here is more secure because you can alwys ask for a collateral for every loan that you are giving so you have a secured collateral that you can use to sell in exchange if the borrower defaults.

Did you mean escrow?

That's odd. I assumed scammers got infinite returns as they pay nothing to deprive lenders of their money. I haven't heard of many lenders actually getting their money back, let alone make a return.

I see in this OP that people don't know how invest in BTCJam and then have that FUD. Scammers/borrowers don't have "returns", but credited investments. Who have returns are the investors, that I'm am. I'm not a scammer on BTCJam, I only invest. Yes, as lender/investor I have return because I know in who I'm investing BTC/trust. I've already explained in a post on this topic how see good details before trust, and the BTCJam have guidelines for investors.

He's mean in this place is already there a place for asking about loans and that is always sued a the loans receiver for giving a collateral before. you need read again about it.

Collateral = escrow?
But for it, the borrower needs send the payment to escrow, right? But if user don't have that value at the moment?

Without proper collateral any marketplace or lending service which is based on p2p framework and is dealing with irreversible cryptocurrencies will be only home for scammers.

I personally never lend/borrow any BTC via BTCJam mainly because I was worried about being scammed. But I thought that service introduced some way to prevent stealing BTC already, no?

No way to prevent because this is mission of user, then: ways for user prevent it. I've already said about it: verify amount paid, verified personal data, etc.

too many scammers and not much profit  made BTCjam a dull boy :)
you can have a read here on how a guy tried to test different bitcoin investment options,including btcjam

https://99bitcoins.com/btcjam-investment-went-bust/
https://99bitcoins.com/btcjam-reviewed-my-personal-experience-reddit-user-reviews/

disclaimer:not my blog,but I like his writing style and can recommend his blog as an intersting read about bitcoins and cryptocurrency in general

I don't use btcjam because of there are too much scammer on there, if i need loans  will use loanbase although still there are scammer on loanbase too. IMHO loanbase more good than btcjam.

I have had big time issues with BTCJam, just too many scams there. Unless there s an option to secure your funds with some form of collateral, lending s not an option. Remember, crypto anonymity s really nice for scammers and speculators. Always stay safe.

Why you think it is more good? Why?

haha
Did you even read about verified data of the borrower? How send BTC to a collateral if the borrower is just needing BTC?

i have tried join BTCJam but it's very hard to get full verification.
i think i will try it again, because i am miner and i need some money to growing my bussines.

I dont know how to got 500% interest because i also have been a btcjam member and other lending platforms as well but i see there many loans being defaulted and never repaid ,even with some highly ranked member running away with huge bitcoins and there is no returning back,lending is a risky business to do.

BTCJam is not the only bitcoin lending service around. Have you tried other lending platforms as well?

If you want business loan I think better places might be https://www.bitbond.com/ (https://www.bitbond.com/) or Business Lending Platform - https://loanbase.com/
 (https://loanbase.com/)

i am confused how did you get 500% return . because i usually three time was scammed by three different person . because they take lone from me but they didn't returned me and secondly they abuse me at my social Facebook account .
so i had left to use btcjam about 6 months ago because it was lossful for me .

you realy lending in btcjam can get return 500%
how long you lending in btcjam can get return 500%
i think not only one people want loan is high return back

A few months ago I decided to use it to get some loan but as profit on loan is not allowed in my country so I rebounced from my idea and decided to earn from internet and ave them to collect the amount which I need for my needs.

You are lucky to make a profit,I don't use Btcjam to invest or even lend bitcoins,they are very strict in verifying your identity,something we do not want here in our bitcoin community our lending section is much better than BTCJAM