BTCjam - Any Thoughts or Experiances

[BTCJamSupport]

Rating people anon is a great way to have a reputation system manipulated. Random ratings from themselves - this is why we do that.

Well as someone that invested multiple BTC at your site I can say I disagree.   I could see not letting someone give feedback if they just created an account, but after they have invested more than a BTC in multiple loans?   You logic makes no sense.    I could easy give false ID and you would let me give feedback.   

Many people have had success with arbitration. We are upfront about our model and how this is done as I mentioned before.

Really?  I've never heard anyone that has had success with it.   Where are these success stories?

I think we agree to disagree on the last point, I've mentioned numerous times in this thread why we feel differently.

Of coarse you don't want to put yourself in the same place as investors, because you know you would lose.  Your business model takes upfront fees and leaves the investors to fend for themselves.   That is the key problem with BTCjam.    The business model pushes all the risk onto the investors.   That is what you should be putting in your FAQ.

Mentioned numerous times, this is in our FAQ.

We have user worldwide who use the NETarb contracts. Stories? I mean, it's not like every time someone uses this they run to the press to post about it. With court filed documents  and moving legal settlements these users usually try to maintain some level of privacy.

[ruggedman_dan]

BTCJam is not awful, but it is not great either.

Speaking from a borrower's perspective, I had 2 loans on there get funded very fast. Each of them were funded in a matter of hours. In terms of sheer volume, BTCJam is the place to go to get your loan filled quickly. No denying that.

As far as customer service, I'd say 4/10 on a 10 pt scale. At one point, it seemed like they were okay at best. The emails were answered in a decent amount of time, but not quickly by any estimation. Then, when I started having issues with listings, the support pretty much stopped. The few responses I did get took days to receive, but really, they ignored the most important emails.

Also, I have a problem with any site that generates that much income that only has ONE method of contacting support. BTCJam makes a boatload of money on the loan origination fees (or whatever they call it, it is 5% that the borrower never sees but has to pay back.) YET, they offer no chat support, they have no support forum and they offer no customer support hotline from what I can see.

Bitlending Club really is lightyears ahead of BTCJam in terms of site functionality. Localbitcoins trading is a very prominent method of making money in the BTC world and Bitlending Club has recognized that. They created a tool that verifies your LBC account and your LBC income in lieu of uploading any income verification docs. This process is super fast and easy. BTCJam is still in the stone ages in that regard. I tried on two different times to get them to recognize my LBC sales as income, but each time they were very unhelpful. They said "upload bank statements." NEWSFLASH BTCJAM: Cash deposit is only ONE of the MANY methods people sell for on LBC.

Also, the loan review process on BTCJam can take an unnecessarily long time. BLC does it instantly. Try creating a new borrowing campaign on the weekend on BTCJam...it will sit there until Monday afternoon. And I don't want to hear all that yada yada about all loans needing to be reviewed by a specialist. No way in hell someone is sitting there reviewing every loan request that comes through. And if they are, they are doing a pretty shitty job of it.

A great borrower like me who repaid two loans early is prevented from taking out any new loans and is given no explanation as to why. I communicated with my lenders and brought them nice returns on their investments. But as I read this thread, I see the scammers roam free.

Bottom line: If you want to get funded fast, BTCJam is the place. BLC is better in every other aspect, but speed of funds is such a big factor that I can understand why BTCJam is still king.

[Sourgummies]

BTCJAM rep,why not let people speak their thoughts rather than countering everything! This is not a BTCJAM help thread.Big and Bold because you missed it last time.

[dyask]

BTCJam is not awful, but it is not great either.

Speaking from a borrower's perspective, I had 2 loans on there get funded very fast. Each of them were funded in a matter of hours. In terms of sheer volume, BTCJam is the place to go to get your loan filled quickly. No denying that.

As far as customer service, I'd say 4/10 on a 10 pt scale. At one point, it seemed like they were okay at best. The emails were answered in a decent amount of time, but not quickly by any estimation. Then, when I started having issues with listings, the support pretty much stopped. The few responses I did get took days to receive, but really, they ignored the most important emails.

Also, I have a problem with any site that generates that much income that only has ONE method of contacting support. BTCJam makes a boatload of money on the loan origination fees (or whatever they call it, it is 5% that the borrower never sees but has to pay back.) YET, they offer no chat support, they have no support forum and they offer no customer support hotline from what I can see.

Bitlending Club really is lightyears ahead of BTCJam in terms of site functionality. Localbitcoins trading is a very prominent method of making money in the BTC world and Bitlending Club has recognized that. They created a tool that verifies your LBC account and your LBC income in lieu of uploading any income verification docs. This process is super fast and easy. BTCJam is still in the stone ages in that regard. I tried on two different times to get them to recognize my LBC sales as income, but each time they were very unhelpful. They said "upload bank statements." NEWSFLASH BTCJAM: Cash deposit is only ONE of the MANY methods people sell for on LBC.

Also, the loan review process on BTCJam can take an unnecessarily long time. BLC does it instantly. Try creating a new borrowing campaign on the weekend on BTCJam...it will sit there until Monday afternoon. And I don't want to hear all that yada yada about all loans needing to be reviewed by a specialist. No way in hell someone is sitting there reviewing every loan request that comes through. And if they are, they are doing a pretty shitty job of it.

A great borrower like me who repaid two loans early is prevented from taking out any new loans and is given no explanation as to why. I communicated with my lenders and brought them nice returns on their investments. But as I read this thread, I see the scammers roam free.

Bottom line: If you want to get funded fast, BTCJam is the place. BLC is better in every other aspect, but speed of funds is such a big factor that I can understand why BTCJam is still king.

Very interesting and excellent post!

[cbtsta7]

as an Investor they requested a Photo ID before I can withdraw my bitcoins that  I have deposited there in the first place.

now I have submitted a High Resolution Photo of my drivers license (Philippines) and they rejected it requesting me to submit another High Resolution Scanned Photo ID

this is making me angry because the last time I checked.. the photo I submitted was very high in resolution.. I can even see the dust .. and I do not have a scanner (who uses scanner these days?)

so I took a high res photo of my drivers license again for the second time hoping they'll accept it this time.. and it takes days if not weeks for them to verify my ID

as an Investor.. they are making my life hard for me to be able to withdraw my own bitcoin

I have invested a total of 13 btc in that website and it was my mistake for trusting it so easily with my bitcoins not knowing that they have the power to hold on and freeze your bitcoin

 

[dyask]

as an Investor they requested a Photo ID before I can withdraw my bitcoins that  I have deposited there in the first place.

now I have submitted a High Resolution Photo of my drivers license (Philippines) and they rejected it requesting me to submit another High Resolution Scanned Photo ID

this is making me angry because the last time I checked.. the photo I submitted was very high in resolution.. I can even see the dust .. and I do not have a scanner (who uses scanner these days?)

so I took a high res photo of my drivers license again for the second time hoping they'll accept it this time.. and it takes days if not weeks for them to verify my ID

as an Investor.. they are making my life hard for me to be able to withdraw my own bitcoin

I have invested a total of 13 btc in that website and it was my mistake for trusting it so easily with my bitcoins not knowing that they have the power to hold on and freeze your bitcoin

 

I never submitted any ID.   Did they change the rules?  Why should an investor have to submit ID?

[cbtsta7]

as an Investor they requested a Photo ID before I can withdraw my bitcoins that  I have deposited there in the first place.

now I have submitted a High Resolution Photo of my drivers license (Philippines) and they rejected it requesting me to submit another High Resolution Scanned Photo ID

this is making me angry because the last time I checked.. the photo I submitted was very high in resolution.. I can even see the dust .. and I do not have a scanner (who uses scanner these days?)

so I took a high res photo of my drivers license again for the second time hoping they'll accept it this time.. and it takes days if not weeks for them to verify my ID

as an Investor.. they are making my life hard for me to be able to withdraw my own bitcoin

I have invested a total of 13 btc in that website and it was my mistake for trusting it so easily with my bitcoins not knowing that they have the power to hold on and freeze your bitcoin

 

I never submitted any ID.   Did they change the rules?  Why should an investor have to submit ID?

I've read somewhere that when you reach $3000 they will freeze your account until you submit an ID ... which I did and they did not accept it.. they probably think that its fake because our drivers license ID in the Philippines sucks

here's an example

http://www.carmudi.com.ph/journal/three-types-of-drivers-license-in-the-philippines/

[wyde666]

speaking of recent exp, i have one so far and is pretty annoying. so when you set on two factor author, is not easy to turn it off, they will asked is your photo holding your ID. i think why they keep that way i don't under stand it, you can easy turn on 2FA but if you turn off 2FA they will making hard for you. and i have to wait 2 business days (you would be longer waiting if you make request in Friday).

[BTCJamSupport]

speaking of recent exp, i have one so far and is pretty annoying. so when you set on two factor author, is not easy to turn it off, they will asked is your photo holding your ID. i think why they keep that way i don't under stand it, you can easy turn on 2FA but if you turn off 2FA they will making hard for you. and i have to wait 2 business days (you would be longer waiting if you make request in Friday).

You can use Authy and push the reset yourself. Some places have TFA resets that take two weeks. We do a lot to insure that is protected and secure when this change is made so we take a little extra bit of time with it. But we are compatible with Authy if you wanted to be able to push this reset through their product instead. Hope that helps

[BTCJamSupport]

BTCJAM rep,why not let people speak their thoughts rather than countering everything! This is not a BTCJAM help thread.Big and Bold because you missed it last time.

THOSE HERE ARE ABLE TO SPEAK THEIR MIND WELL AND CLEAR. I AM NOT AN ADMIN HERE NOR AM I TRYING TO JACK THE THREAD. PURELY CONVERSATION AS THIS IS A FORUM. IF YOU HAVE A PROBLEM CONTACT SOME ADMINS. CHEERS BUDDY

[BTCJamSupport]

as an Investor they requested a Photo ID before I can withdraw my bitcoins that  I have deposited there in the first place.

now I have submitted a High Resolution Photo of my drivers license (Philippines) and they rejected it requesting me to submit another High Resolution Scanned Photo ID

this is making me angry because the last time I checked.. the photo I submitted was very high in resolution.. I can even see the dust .. and I do not have a scanner (who uses scanner these days?)

so I took a high res photo of my drivers license again for the second time hoping they'll accept it this time.. and it takes days if not weeks for them to verify my ID

as an Investor.. they are making my life hard for me to be able to withdraw my own bitcoin

I have invested a total of 13 btc in that website and it was my mistake for trusting it so easily with my bitcoins not knowing that they have the power to hold on and freeze your bitcoin

 

I never submitted any ID.   Did they change the rules?  Why should an investor have to submit ID?

I've read somewhere that when you reach $3000 they will freeze your account until you submit an ID ... which I did and they did not accept it.. they probably think that its fake because our drivers license ID in the Philippines sucks

here's an example

http://www.carmudi.com.ph/journal/three-types-of-drivers-license-in-the-philippines/

PM your alias, I'll get the verification team to have a look. Thank you.

[BTCJamSupport]

BTCJam is not awful, but it is not great either.

Speaking from a borrower's perspective, I had 2 loans on there get funded very fast. Each of them were funded in a matter of hours. In terms of sheer volume, BTCJam is the place to go to get your loan filled quickly. No denying that.

As far as customer service, I'd say 4/10 on a 10 pt scale. At one point, it seemed like they were okay at best. The emails were answered in a decent amount of time, but not quickly by any estimation. Then, when I started having issues with listings, the support pretty much stopped. The few responses I did get took days to receive, but really, they ignored the most important emails.

Also, I have a problem with any site that generates that much income that only has ONE method of contacting support. BTCJam makes a boatload of money on the loan origination fees (or whatever they call it, it is 5% that the borrower never sees but has to pay back.) YET, they offer no chat support, they have no support forum and they offer no customer support hotline from what I can see.

Bitlending Club really is lightyears ahead of BTCJam in terms of site functionality. Localbitcoins trading is a very prominent method of making money in the BTC world and Bitlending Club has recognized that. They created a tool that verifies your LBC account and your LBC income in lieu of uploading any income verification docs. This process is super fast and easy. BTCJam is still in the stone ages in that regard. I tried on two different times to get them to recognize my LBC sales as income, but each time they were very unhelpful. They said "upload bank statements." NEWSFLASH BTCJAM: Cash deposit is only ONE of the MANY methods people sell for on LBC.

Also, the loan review process on BTCJam can take an unnecessarily long time. BLC does it instantly. Try creating a new borrowing campaign on the weekend on BTCJam...it will sit there until Monday afternoon. And I don't want to hear all that yada yada about all loans needing to be reviewed by a specialist. No way in hell someone is sitting there reviewing every loan request that comes through. And if they are, they are doing a pretty shitty job of it.

A great borrower like me who repaid two loans early is prevented from taking out any new loans and is given no explanation as to why. I communicated with my lenders and brought them nice returns on their investments. But as I read this thread, I see the scammers roam free.

Bottom line: If you want to get funded fast, BTCJam is the place. BLC is better in every other aspect, but speed of funds is such a big factor that I can understand why BTCJam is still king.

Loans do funds fast & yes we actually do screen every single loan that comes into the platform now. We've decided to be more selective with loans and those who get onto the marketplace.

Your comment regarding scammers, you've participated as an investor with us. How have you concluded this if you dont participate on that side of the market?

LBC - We are different when it comes to BLC - we don't take income measured through LBC & don't plan to in the near future. We have the verification simply for actual employment income. Why? We have investors all over the world who want to know whether or not someone actually works and gets paid at an official gig. From the daily investors I have chatted with within the platform, none of which have been interested in having LBC income as part of this consideration when asked. We brought it up months ago but for now we'll keep it as it.

As for your borrowing ability, we made a choice to carry other loans on the platform. Not everyone who goes to the bank gets a loan and the same applies to us. Sorry if that was shocking or a bad experience and many thanks for sharing your thoughts

[Sourgummies]

BTCJAM rep,why not let people speak their thoughts rather than countering everything! This is not a BTCJAM help thread.Big and Bold because you missed it last time.

THOSE HERE ARE ABLE TO SPEAK THEIR MIND WELL AND CLEAR. I AM NOT AN ADMIN HERE NOR AM I TRYING TO JACK THE THREAD. PURELY CONVERSATION AS THIS IS A FORUM. IF YOU HAVE A PROBLEM CONTACT SOME ADMINS. CHEERS BUDDY

I have contacted a mod because I think you are using this to advertise services. No one else has a BTCJam in their title. Sure they will see it as ok,but all I see yo doing is helping people with issues. That seems to be off topic,since this is about thoughts and experiences.

[wyde666]

You can use Authy and push the reset yourself. Some places have TFA resets that take two weeks. We do a lot to insure that is protected and secure when this change is made so we take a little extra bit of time with it. But we are compatible with Authy if you wanted to be able to push this reset through their product instead. Hope that helps

thanks God my problem is resolved now. kinda hope for the future BTC Jam can making it fast.

[BTCJamSupport]

BTCJAM rep,why not let people speak their thoughts rather than countering everything! This is not a BTCJAM help thread.Big and Bold because you missed it last time.

THOSE HERE ARE ABLE TO SPEAK THEIR MIND WELL AND CLEAR. I AM NOT AN ADMIN HERE NOR AM I TRYING TO JACK THE THREAD. PURELY CONVERSATION AS THIS IS A FORUM. IF YOU HAVE A PROBLEM CONTACT SOME ADMINS. CHEERS BUDDY

I have contacted a mod because I think you are using this to advertise services. No one else has a BTCJam in their title. Sure they will see it as ok,but all I see yo doing is helping people with issues. That seems to be off topic,since this is about thoughts and experiences.

Im not advertising anything I am participating in the conversation. I'm not pushing signups down anyones throat & yes Im helping those with issues. Helping people with issues doesn't fall under experiences?

[BTCJamSupport]

You can use Authy and push the reset yourself. Some places have TFA resets that take two weeks. We do a lot to insure that is protected and secure when this change is made so we take a little extra bit of time with it. But we are compatible with Authy if you wanted to be able to push this reset through their product instead. Hope that helps

thanks God my problem is resolved now. kinda hope for the future BTC Jam can making it fast.

Let me know how that works out if/when you process a reset. I've heard good things from those who were more interested in using Authy.

[wyde666]

Let me know how that works out if/when you process a reset. I've heard good things from those who were more interested in using Authy.

hmm i'm do not use Authy so i can't tell know-how, I'm using Google Authenticator. The bottom line more or less is, your account must verified specially your ID, sent email to BTCJam Support, they will asked your photo taken today with holding your ID (make sure ID is can readable). in my case i'm waiting maybe 1-2 day. and then im try turn off 2FA Security, done.

[mobnepal]

I have heard about lots of scam people borrowing bitcoin in btcjam by making other greedy with high return on investment. I would like to keep my bitcoin myself rather than handing it over to other people.

[Wattda]

I am following these threads and I am confused I have lots of btc on this site, am I hearing that BTCjam is going to help us get our investments back?

[BonusGame]

You can use Authy and push the reset yourself. Some places have TFA resets that take two weeks. We do a lot to insure that is protected and secure when this change is made so we take a little extra bit of time with it. But we are compatible with Authy if you wanted to be able to push this reset through their product instead. Hope that helps

thanks God my problem is resolved now. kinda hope for the future BTC Jam can making it fast.

Let me know how that works out if/when you process a reset. I've heard good things from those who were more interested in using Authy.

Your support is fucking really terrible.
On mail u respond after couple days WITH SAME AUTO MAIL.
Fucking joke.