Bitcoin Forum

I never heard of this websites but I saw one or two users speaking about it on the forums so I thought on making this topic to see if people know Loanbase.com or not and what's are there experience with it .
It seems like they have a decent amount of borrowers and also funded shitload of $ (BTC) . Anyway I'd like to hear from people and know more about this service and  if it's legit what's the difference between this one and BTCJam .

this is the renamed site of btclendingclub
i used to received notifications from them
their requirements for loan is outrageous

Oh right , I just saw the backlinks to articles for CoinNewsMagazine & Coindesk still , I don't know both of them so .. if anyone could give me more info about this BitcoinLendingClub , I would really appreciate it .
What do you mean by outrageous ? what do they ask you exactly so you get a loan ; Please don't tell me it's worst then BTCJam for what comes to the informations part .

One example of an outrageous requirement is that they will ask you to send them a picture of you holding an identification card, the identification card must be readable as well. so just imagine that your holding your drivers license right below your chin and that your name and address in the identification card should be clear. You need a good DSLR for that.

The site has a lot of scammers. I've been scammed in there plenty of times so I had to stop lending.
I've tried getting a loan in the site but with 5 attempts none of it wvwr get to half funded. The users in there only funds those who are portugese or something like that. They (the people) have a facebook group where there is an admin that will monitor your loan so if you don't know who the admin is or if you are not from their country you wont get your loan funded.
They have a tipping system whete you can get your listing on top, it hardly works aa some people tip higher than your tip to get on top so I don't think  borrowing im this site doesn't make sense if you don't really know the people who is investing in loan. It's a good thing for a lending site but every now and then,  some scammers had to ruin that. ;)

Hmm so it's not that safe afterall and it's not really better then BTCJam . well ty I guess I got my decision however I will keep this topic open for reviews if you guys want to post here so people find it when they search about Loanbase .

It isn't any better than BTCJam. The one difference for me was that they accepted my verification stuff while btcjam didn't. There are a lot of scammers there and I have been scammed there before. They allow people to take rep loans, which is just really stupid.

How would you know if it was a rep loan if someone didn't say upfront that it was? I personally like the transparency. You could just as easily claim it's for something else and then pay it back, building rep. the same way.

There is a type of loan for reputation loan in here where you can't withdraw the coins out of your account. Isn't that   insane? :D

Oh, I wasn't aware of that. That's just... odd. Basically you just pay for rep. then. So why not just sell rep. outright? XD

All of these sites will exist until they basically want to exist. At some moment, they will probably just dissappear with your money.

I would never, ever send my hard earn coins to any of those sites. I guess that people still do it since the greed just takes over their reasoning which honestly never should happen.

People beware!

I like that requirement. I'd require a lot more than that to invest in a business, and if I did a personal loan I'd absolutely need to know that information because I'd have to pursue the funds if they weren't repaid as agreed.

If I were providing a business loan, I would want to meet them face-to-face and meet with them periodically to check on how things are going and how they are using the money.

it's much easier to take out a loan in bitcoins here in bitcointalk.org rather than those btcjam or loanbase
you are suppose to be anonymous but when you take out your loan from those site's you will be exposed with those requirements that they are asking

IMO, even though they're (loanbase is) a legit website, a lot of fake/scam borrowers will be there. Even btcjam too having lot of scamers. So, its not recommended to lend on loanbase(?)

The identification requirements serves as a protection for lenders in the site. If you were to lend a huge amount, would you want to lend it to someone you don't know who the person is? Some people in the community there take action in stopping those scammers and those informations come in handy in hunting them. :D


You can't expect it to be 100% sure that an online lending activity will end up positively.
Be it in loanbase or in btcjam and even here in the forum, there will be scammers lurking and trying to get some coins.

That is a separate issue. As long as things are transparent, I'm good. I usually join as a silent investor.

ah yeah since they run more on reputation loan I guess giving out those requirements indeed is necessary


If you are taking out a business loan then you need to prove you have business and yes I would require a face to face transaction for that matter since business loan is much bigger amount as far as I know.

I have been a user of BLC (now LoanBase) for more than an year now, base for making profit to founders only...like OP mentioned the formalities are outrageous...BTCJam is far better (it is the first P2P lending plaftorm)...they keep on implementing rules for their own profit...taking loan from a bank is much simpler than LoanBase...they used to be good, but it would collapse soon...I think BTCJam is the only trusted platform for taking loans or making a small profit by lending (scammers everywhere: Beware)

I like loanbase much more then BTCjam. True, formalities and requirements for a loan are much tougher to satisfy but this is simply because crypto lending is populated by scammers. So they ask for all this stuff to protect their clients, that s me and you. No issue there.

I have been a user of loanbase for more than 4 months now.

This is a legit site as per my experience. They are officially registered as LoanBase, Inc in the State of Delaware on March 6, 2015.
File number: 5705559

Every p2p lending site will attract borrowers, investors and obviously "Scammers" who try to find the loopholes in these p2p lending websites, by impersonating other's identity or forged documents.

It really insane to pay for reputation on a platform but that's why "loanbase.com" did by it's so called reputation loan.