[ANN] BTCJam - Peer to Peer Bitcoin Lending

[cancerbola]

what will you do in case of default payment? are you gonna enforce the full arm of the law? or just post it on your scammer list? so investing here is not safe?

Well, the loaners don't supply a collateral when they apply for a loan, so there is nothing the lenders can do in terms of money when loaners scam. It's gone!
(IDK about the legal consequences BTCJam takes when a user scams though, I don't use it).
But generally, you are better off lending your bitcoins in the lending section where you enforce loaners to supply collateral in the circumstance that the loaner defaults.
(Or lend to reputable loaners who have loaned multiple times and paid back on every single one of them on time, though that won't enforce the user to pay back on the next one)

One thing that BTCJam should really do is to enforce loaners to supply collateral.

[CoinPro*]

BTCJAM:
1. Registration on the site BtcJam.com + verification by email
2. Upload your copy of the identification (passport) or your driver license to your profile + from both sites your photo with document.
3. Verification of your address – electricity bill, telephone bill etc.
4. Verification of your Paypal, Ebay, Coinbase etc history.
5. Verification of your connection on social pages like Facebook, Linked In, Twitter etc.
6. Verification of your telephone – classic SMS
7. You can upload your Salary too
8. Verification of your credit card and bank account

So all of this needs to be done in order to get a loan?

If you can not verify income, you can not start a loan at all. So your best bet is to have them pre-qualify your income documents before you waste your time with all of the other verifications. Check out my posts about "income verification". I have tried unsuccessfully for about a year now (37 pages of documents total to this date). Income that is very easily verified BTW, with bank stamp, and manager business card. If they actually do verify your income, I would be amazed, and please come back here and tell us what documents you uploaded that were successful.

[owlcatz]

BTCJAM:
1. Registration on the site BtcJam.com + verification by email
2. Upload your copy of the identification (passport) or your driver license to your profile + from both sites your photo with document.
3. Verification of your address – electricity bill, telephone bill etc.
4. Verification of your Paypal, Ebay, Coinbase etc history.
5. Verification of your connection on social pages like Facebook, Linked In, Twitter etc.
6. Verification of your telephone – classic SMS
7. You can upload your Salary too
8. Verification of your credit card and bank account

So all of this needs to be done in order to get a loan?

If you can not verify income, you can not start a loan at all. So your best bet is to have them pre-qualify your income documents before you waste your time with all of the other verifications. Check out my posts about "income verification". I have tried unsuccessfully for about a year now (37 pages of documents total to this date). Income that is very easily verified BTW, with bank stamp, and manager business card. If they actually do verify your income, I would be amazed, and please come back here and tell us what documents you uploaded that were successful.

Can I ask you one question? Why? Why on earth would you waste your life on a shit site like this, and spend that much time for nothing, not to mention giving them your entire identity? THe only reason I can see anyone doing this is to run a scam. Otherwise, go to the bank, you can probably get a fiat loan much easier, and much safer.

[Rmcdermott927]

So, has anyone applied for a loan on BTCJam, had their loan go into "under review" status and then have it deleted with zero communication from BTCJam regarding it?    I emailed support 24 hours ago asking them what the issue was and they still have not gotten back to me.   I have borrowed 10 btc with them in the past and have had zero issues.

[FullaSugah]

For the past week they keep rejecting my Identity Verification and Address Verification without any reason to do that. I keep upload the files 2 times a day and they keep rejecting.
I have send them this email and they didn't bother to answer.

"Hello ,

My name is ******** **********.
I don’t know why you keep reject my Identity Verification , this reason "The information provided does not match the document.” is insufficient in order to understand whats wrong with my id or your verification system.
I look at the document and is nothing wrong with my CNP ( Numeric Personal Code / SSN / National ID Number), the information provided its 100% matching the document and is 100% the CNP from my birth certificate.
I tried to verify both the National ID and Driving License and you give me the same reason for rejection.
Please double-check the information received and act in concordance.

PS: When i verified my investor account i used the same National ID and it was accepted.

Hope you will answer this email.

Thank you,"

Maybe they will answer on this forum, MAYBE.

[seiruscom]

same exact problem as FullaSugah

keep getting id rejected, tried greencard and passport, id is clearly legible in picture still gets rejected:

New Status: Invalid - The data in the photo and the information submited are inconsistent.

Is there anyone here from support to explain?

[owlcatz]

same exact problem as FullaSugah

keep getting id rejected, tried greencard and passport, id is clearly legible in picture still gets rejected:

New Status: Invalid - The data in the photo and the information submited are inconsistent.

Is there anyone here from support to explain?

Well Hello!!! Yes, I can explain!! Due to your inconsistent info, you are not eligible to now scam the bitcoin community on behalf of btcjam. I suggest you try again at a later date.

For the past week they keep rejecting my Identity Verification and Address Verification without any reason to do that. I keep upload the files 2 times a day and they keep rejecting.
I have send them this email and they didn't bother to answer.

"Hello ,

My name is ******** **********.
I don’t know why you keep reject my Identity Verification , this reason "The information provided does not match the document.” is insufficient in order to understand whats wrong with my id or your verification system.
I look at the document and is nothing wrong with my CNP ( Numeric Personal Code / SSN / National ID Number), the information provided its 100% matching the document and is 100% the CNP from my birth certificate.
I tried to verify both the National ID and Driving License and you give me the same reason for rejection.
Please double-check the information received and act in concordance.

PS: When i verified my investor account i used the same National ID and it was accepted.

Hope you will answer this email.

Thank you,"

Maybe they will answer on this forum, MAYBE.

No. Your request is denied. You are not allowed to get a loan to scam members, sorry!  

[FullaSugah]

This is what i received from support:

******* replied:
Hi ********,

Thanks for reaching out. I’m sorry you have found the process frustrating, I know it can be tricky. If your submissions are getting rejected it’s because they are still not meeting the standard necessary for verification. Please try to submit an entirely different photo for review. Thanks for your patience!

Best,

********.

This is a vague answer with lots of questions as well as "The information provided does not match the document”. 
I shot picture with Mirrorless 21MP, RAW, and still........ no standards. These standards? https://cdn.btcjam.com/assets/form_icons/selfie-with-id-84f71c9bd638243e3ec03b976bfaaabb.jpg =))

Well done BTC, i think ill stay as an investor and forget about the possibility of borrow; maybe for the moment.

PS: And for those omniscients, I wish you all red . You make shadow on earth for nothing. Hope I was not too subtle... 

[AlexC]

you could give it go at btcpop

[FullaSugah]

you could give it go at btcpop

Thanks for the tip Alex, but I don't want to get a loan now.
I just want the option to be there just in case, and I want to be at BTCjam because there i have my investor account....
Those who are not legit and with intent to deceive investors get this chance and those who are legit and need this just in case, they don't get accepted. Ironically.

[pallas]

Isn't this a funny graph?



It would be good if it was upside-down :-D

Not much to laugh, actually.

[AlexC]

you could give it go at btcpop

Thanks for the tip Alex, but I don't want to get a loan now.
I just want the option to be there just in case, and I want to be at BTCjam because there i have my investor account....
Those who are not legit and with intent to deceive investors get this chance and those who are legit and need this just in case, they don't get accepted. Ironically.

You can also create an account on btcpop for only investing, and in that case you do not need to register anything at all

[BTCJamSupport]

Isn't this a funny graph?



It would be good if it was upside-down :-D

Not much to laugh, actually.

Hey there, is this your investments page? Can you PM me an alias so that I can look into this a bit more? Thanks, we'd love to see what is going on here!

[BTCJamSupport]

same exact problem as FullaSugah

keep getting id rejected, tried greencard and passport, id is clearly legible in picture still gets rejected:

New Status: Invalid - The data in the photo and the information submited are inconsistent.

Is there anyone here from support to explain?

Drop me an alias via PM and I'll check it out today! Thanks

[BTCJamSupport]

For the past week they keep rejecting my Identity Verification and Address Verification without any reason to do that. I keep upload the files 2 times a day and they keep rejecting.
I have send them this email and they didn't bother to answer.

"Hello ,

My name is ******** **********.
I don’t know why you keep reject my Identity Verification , this reason "The information provided does not match the document.” is insufficient in order to understand whats wrong with my id or your verification system.
I look at the document and is nothing wrong with my CNP ( Numeric Personal Code / SSN / National ID Number), the information provided its 100% matching the document and is 100% the CNP from my birth certificate.
I tried to verify both the National ID and Driving License and you give me the same reason for rejection.
Please double-check the information received and act in concordance.

PS: When i verified my investor account i used the same National ID and it was accepted.

Hope you will answer this email.

Thank you,"

Maybe they will answer on this forum, MAYBE.

Send me a PM with your alias, I'll check it out.

[pallas]

In all honesty, I can't recommend this service as an investment.
In about 6 months time, my profit is -4.7% (negative!).
A lot of people just don't pay their loans and there is no way to get the money back (unless you live in the loaner's coutry, possibly).
It looks like they pay until they get to rating A, then run away with the money.
I can't even read the comments, because they are insulting: "I can't pay back, I need to first sell my plane".
It'd be funny if it wasn't my money.

[AlephconZero]

Do not subscribe to btcjam. If you remain inactive for a 365 days laps of time they will charge you up to 5$ depending on the btc you have on your account. Moreover lots of loans are scam and you will loose all your investment.
Moreover when sibscribed yyou cannot unsubscribe paying up to 60$ / yearly ...

Then do what you want!
Regards

[owlcatz]

Do not subscribe to btcjam. If you remain inactive for a 365 days laps of time they will charge you up to 5$ depending on the btc you have on your account. Moreover lots of loans are scam and you will loose all your investment.
Moreover when sibscribed yyou cannot unsubscribe paying up to 60$ / yearly ...

Then do what you want!
Regards

Can you post a link to wherever you are being told about being charged anything in their TOS, so that I can yell at them in another email again for being fucking scammers? Thanks!

[AlephconZero]

https://btcjam.com/terms-of-use
Rule 19

[AlephconZero]

For the past week they keep rejecting my Identity Verification and Address Verification without any reason to do that. I keep upload the files 2 times a day and they keep rejecting.
I have send them this email and they didn't bother to answer.

"Hello ,

My name is ******** **********.
I don’t know why you keep reject my Identity Verification , this reason "The information provided does not match the document.” is insufficient in order to understand whats wrong with my id or your verification system.
I look at the document and is nothing wrong with my CNP ( Numeric Personal Code / SSN / National ID Number), the information provided its 100% matching the document and is 100% the CNP from my birth certificate.
I tried to verify both the National ID and Driving License and you give me the same reason for rejection.
Please double-check the information received and act in concordance.

PS: When i verified my investor account i used the same National ID and it was accepted.

Hope you will answer this email.

Thank you,"

Maybe they will answer on this forum, MAYBE.

Send me a PM with your alias, I'll check it out.

Do not send anything. The site is too risky.