Bitcoin Forum

Do you have to be 100% verified to use it? I'm having trouble coming up with my income information. As far as everything else, I'm good to go

If they have an algorithm that gives you points and based on those points you gain a grade A,B,C etc... like most of the lending platforms have then you don't need to be fully verified to get the loan but having being 100% verified definitely helps gaining trust and getting your loan request filled fast.

So if I do address, drivers license, phone number, email, SKIP income, PayPal, local bitcoins,  Google and linkin, I should be okay to request a loan? I have all this verified except my address, it's pending.. So after that verifys I'm hoping I'll be okay to request a loan.

The address was becoming the general thing for the people want to use the lending service, avoid the scam intention.  ::)
Can you explain why your address get pending? 8)
That was making no sense for me.  

They just haven't verified it yet. I just posted it today. It normally takes 1 business day. Everything else has been verified besides like eBay, Amazon, those little things that I'm assuming can't matter too much. The big thing I can't verify is my income. And that's why I'm asking if I skip the income verification will it not let apply for a loan even though everything else is verified over 75%

I think you can skip the income part but it will affect your credit rating.


You can still go ahead and apply for a loan but as you can see from the quote, getting approved may be harder.
Also, a lower credit rating means you're either new to the system or not responsible enough with your credit, which is a risky bet for the lender so, expect higher interest rates.

Still, doesn't mean you can't try. If you're okay with the higher interest rates, a lender might take the risk. Good luck.

https://blog.bitlendingclub.com/2015/05/25/best-practices-for-borrowers/
https://bitlendingclub.com/credit-rating

(I'm not really certain if you're really able to skip the income part as I have not tried to use this site before.)

It may in my mind.
At least you can try for ask for that, about some lenience for it. But sometimes If you might have completed over 95% of requirements. And you can't fill the other percentage, and that was having a big chance to get denied.
It was becoming your responsibility.

Income is the most important bit when lenders assess ability to repay the loan. Just saying.

I think these days you can't get a loan without verifying that.

I was using btcpop few months ago and when i newly registered to that site i was able to apply for loans there after the id and address verifications with the video verification,phone verifications and connecting social media platforms and without verifying the income.
I was able to take small loans at the start and after gaining trust that limit increased and also i verified income later.So i think you can apply for loan there but its difficult to a loan to be funded without income verification or you should have some valid collateral like altcoins or even shares.
I have not used bitlending club but you can try btcpop also,and if you have collateral then no income verification required there.