BTCJam - seriously legit?

[SEnergy]

Yes, it's been asked few times, but cmon, one is never so sure, I mean, giving them credentials to my bank account ? the hell is up with that? I'm pretty much fine with giving them the photocopy of my ID but that bank shit is kinda suspicious, is there someone who used them to get a loan without any problems and gave them all the info they needed? should I trust them?

[knowhow]

You should trust no one at online,if the website gots hacked they can easy take money out from your account,besides those they arent legit they offer a way to finance some projects with the loans from others people,but there isnt a safe way saying that you will get paid anytime ,soo meaning you can invest 2 btc into some amazing project and the people walk away with them ,soo i dont see legit,those would happen only if btcjam could act and make those persons who asks the loans to repay or chargeback the ammount.

[Mickeyb]

I have heard mixed reviews about them. But they are still here and in the working order. I guess that they are just trying to secure themselves by asking for your bank credentials. Would I ever give them my bank credentials, absolutely not!

So it's up to you to decide what will you do if you really need money bad. I would try and get a loan in a loaning section if you have any decent collateral before continuing with all the requests from the BTCJam. 

[bitcoin revo]

Here's a review thread about them. I've looked through the pages and the main problem that I've been seeing are the loan defaulters, but those can be found anywhere loaners are found. The bank account info issue seems pretty shady if you ask me; is it a requirement? I doubt half the children over there defaulting loans would be there if it was a requirement...

[Phildo]

Lending bitcoins seems pretty dumb to me. Whenever you give coins to someone else you allow them to fuck you over if (when?) the price changes in their favor.

If you still want to do it, make sure you are lending to someone who has a method to earn bitcoins (that isn't mining), regardless of the price. If they just need cash, they can screw you on a price change. If the price drops, they can pay you back faster, giving you less interest and also bitcoins that are worth less. If the price goes way up, they probably won't be able to pay you back and will just leave you with nothing.

[designerusa]

i hope BTcjam directors safe but Many users use to scam the next transaction. there are very hard to come across a good one. attention another users.

[BTCJamSupport]

Yes, it's been asked few times, but cmon, one is never so sure, I mean, giving them credentials to my bank account ? the hell is up with that? I'm pretty much fine with giving them the photocopy of my ID but that bank shit is kinda suspicious, is there someone who used them to get a loan without any problems and gave them all the info they needed? should I trust them?

Let me clarify a bit about the bank login. For one, this is not mandatory you have right to not connect these if youd rather not. This connection isnt giving us your credentials, its verifying that you do indeed possess a bank account. Almost like a deposit where you have to enter the amounts, this is practically the same method.

We have many, many borrowers that have used these connections without any issues. However, bear in mind that there are many other connections you can provide before going with the banking side. If you didnt feel comfortable there, try some of the other verifications first. Hope this helps.

[BTCJamSupport]

Lending bitcoins seems pretty dumb to me. Whenever you give coins to someone else you allow them to fuck you over if (when?) the price changes in their favor.

If you still want to do it, make sure you are lending to someone who has a method to earn bitcoins (that isn't mining), regardless of the price. If they just need cash, they can screw you on a price change. If the price drops, they can pay you back faster, giving you less interest and also bitcoins that are worth less. If the price goes way up, they probably won't be able to pay you back and will just leave you with nothing.

1. You can link the price to 6 other currencies to avoid that volatility issue. We have investors who hedge their risk (btc only loans) with linked loans in order to sort of hedge against price movements.

I believe this person is looking for a loan over investing at this time.

[knowhow]

Sorry btcjam can help some people to make their projects,and be able to make it happen,the fact is that there is several people lending,just to get reputation,and well we all know big reputation big loan soo without the colateral and some short time loan the website will die.

[OROBTC]

...

I would really like to find a way to increase my BTC holdings.  Almost any decent income (everywhere) is now hard to get, not just here in Bitcoinistan, but worldwide.

But my main concern with BTCJam (and others) would be DEFAULTS on loans by borrowers.  Maybe this has been discussed elsewhere, but there is NO WAY I would loan my BTC out due to risk of loan defaults...

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Sure would like to invest some BTC with bitmixer.io however.  But, last I heard they were NOT accepting investors for their BTC reserve.

[bitbaby]

This would be another verification and like all it's optional as confirmed above by their rep. and I suppose it would increase one's overall score by having their bank account verified as it would be easy to track someone because bank account opening isn't easy and requires all sort of address verifications etc. done by the bank itself.

And if anyone opts for this verification it would mean that they'll be able to get loans much easier as the loaners would feel more comfortable in loaning to someone who has verified their bank account. I don't like giving btc loans as I don't trust anyone without proper collateral but at-least this way the loan provider can find the defaulters of the loans much easily.

[favdesu]

BTCJam is full of scammers, no matter the rating. also, and that's the worst thing BTCJam admins only care about money and do literally nothing to help you if someone defaults

[knowhow]

I had try them since i saw them on blockhain main page soo i had invested some pennies,the first loans were repaid ,the others just scammed me soo i may say that is possible to roi but the risk involved on this project of lending to make some dreams become true or to help to pay some fees is far away to be honest because the scammers inside it.