I am looking at various investment opportunities and doing my due dilligence. If anyone would be kind enough to share their experiences with BTCjam I would be grateful. It seems like a decent idea but I am curious about what percentage of loans default and what their procedure is in the case of default. I am willing to accept some risk and plan to spread it widely if I decide to invest.
Hi Cicero2.0. Thanks for showing interest in investing on BTCJam. Right now investors are averaging 19% APR. We have a few blog posts to help you determine how to invest:
http://blog.btcjam.com/post/75934926878/. When a user defaults, the borrower and lenders go through the process of arbitration. Arbitration is a legally binding contract, in which, the lenders receive all the information of the borrower.
We strongly advocate that diversification is the key to healthy returns and to minimize risk!