BitLendingClub

[BitLendingClub]

well if you wanna get funded go with jam. but they have absurd rates .  blc is ok if someone invests in you. but blc screws people over who are retired. so you cant verify income with screenshots.  btcpop to me is the best platform.

We appreciate the feedback. We've known that verifying your income is a bit tough, so we've improved our income verification panel to accommodate our borrowers better.

We now allow users to add multiple sources of income: Employed, Self-Employed, Student, Retired, and Coinbase/eBay/LocalBitcoins merchant transactions.


Specifically for retired users, we have the "Retired" option:


This has provided a lot more flexibility in the income verification process.

[Borgminer]

you dont take screenshot so how are people going to verify retirement ?

[BitLendingClub]

you dont take screenshot so how are people going to verify retirement ?

Unfortunately, screenshots are not accepted as a policy. The accepted ways to submit your proof of income are by providing scanned copy or high resolution picture of the documents. We require that you submit proof that you are receiving the retirement funds. You can submit multiple documents at the same time via the upload form.

The following documents are accepted:

• Bank statement, showing the retirement deposit.
• Payment stubs from your retirement checks
• Other official documents which show your retirement income

[Borgminer]

yup dont get any of those . its all done electronically .

[BitLendingClub]

yup dont get any of those . its all done electronically .

Do your retirement benefits get deposited directly into your bank account?

[cdtbtc]

For what it's worth, I first starting BTC lending with BTCJam and in the last month or two have transitioned slowly toward BLC.

For whatever reason, BTCJam has gone noticeably downhill in the last several weeks. People seem to be defaulting left and right, so what few 'good' loans are left get snatched up almost immediately. I don't know what changed, but I can definitely say that BLC is a better platform as it stands now for the following reasons:

1) Quality of loans
There's quite simply fewer defaults, at least in my personal experience.

2) Shorter terms
Most loans at BLC are about 30 days, whereas more and more loans on BTCJ are 365 days, and I just don't want to go that far out, especially with the volatility of the cryptocurrency market.

3) The rates
I think this also relates to their superior rating system. I feel as though the suggested (but not mandatory) rates are more closely related to the amount of risk you're taking with any given loan. Plus, the fact that you can offer whatever rate you'd like to a buyer is a big plus since you can adjust up or down depending on what you think is fair, and the buyer can either accept your offer or wait for a better one to come along (at least to my understanding).

4) The social identity verification
I can do my due diligence by perusing someone's Facebook page, for example - a few of which look obviously fake and set off red flags, so I stay away. This simply isn't possible at BTCJ, which makes it a less desirable lending platform.

I will say though that, if someone prefers loans that are tied to the value of USD instead of strictly BTC, regardless of how the value fluctuates throughout the loan, there are generally more of those loans at BTCJ. Although USD loans do exist at BLC, they just aren't very common. I'm okay with this, especially since the loans are better all around, but it's something to consider if you're looking for that kind of security. Again though, since most loans are 30 days, I really doubt this is going to be much of a factor.

Loan notes might be a feature to consider adding to BLC. Sometimes people get freaked out about someone being late, and I like being able to buy them out at an even larger profit (or a larger loss if it doesn't work out).

Oh! I might also add that there's been an influx of crap loans at BLC that mostly seem to be originating from Venezuala and sometimes other South American countries. Apparently, they're getting fake documents to create these accounts, but the pattern I'm seeing so far goes something like this:

1) Rep loan, 7-day term, something small like .01BTC
2) Second loan, usually 7-14-day term, something slightly bigger like .5BTC
3) Third loan, 14-30-day term, usually 1-1.5BTC and usually defaulting

I've been burnt 3 or 4 times by these guys, and have decided to just filter out all loans from Venezuala for this reason. There are some legitimate borrowers from that country, but it just takes too much time to sift through all the crap loans from there to be worth the effort. It'd be nice if BLC could look into how these loans are getting through so that you can potentially resolve the issue.

Also, I thought it was odd that one person commented about this exact thing in the comments of the loans that were suspect, and admins deleted the comment. Sure enough though, the loans defaulted. I don't think this is necessarily shady of the admins, but I don't see why the comment was deleted, especially when it has turned out to be a genuine issue.

Anyway, I can't speak to the efficacy of BTC Pop, as I've never used the platform, but I'll have to give it a go and see if it's any better or worse.

[Borgminer]

yup dont get any of those . its all done electronically .

Do your retirement benefits get deposited directly into your bank account?

yup no pay stubs . havent had a pay stub for 13 years . nor a bank statement . all done on a new technology called the internet . 

[Borgminer]

For what it's worth, I first starting BTC lending with BTCJam and in the last month or two have transitioned slowly toward BLC.

For whatever reason, BTCJam has gone noticeably downhill in the last several weeks. People seem to be defaulting left and right, so what few 'good' loans are left get snatched up almost immediately. I don't know what changed, but I can definitely say that BLC is a better platform as it stands now for the following reasons:

1) Quality of loans
There's quite simply fewer defaults, at least in my personal experience.

2) Shorter terms
Most loans at BLC are about 30 days, whereas more and more loans on BTCJ are 365 days, and I just don't want to go that far out, especially with the volatility of the cryptocurrency market.

3) The rates
I think this also relates to their superior rating system. I feel as though the suggested (but not mandatory) rates are more closely related to the amount of risk you're taking with any given loan. Plus, the fact that you can offer whatever rate you'd like to a buyer is a big plus since you can adjust up or down depending on what you think is fair, and the buyer can either accept your offer or wait for a better one to come along (at least to my understanding).

4) The social identity verification
I can do my due diligence by perusing someone's Facebook page, for example - a few of which look obviously fake and set off red flags, so I stay away. This simply isn't possible at BTCJ, which makes it a less desirable lending platform.

I will say though that, if someone prefers loans that are tied to the value of USD instead of strictly BTC, regardless of how the value fluctuates throughout the loan, there are generally more of those loans at BTCJ. Although USD loans do exist at BLC, they just aren't very common. I'm okay with this, especially since the loans are better all around, but it's something to consider if you're looking for that kind of security. Again though, since most loans are 30 days, I really doubt this is going to be much of a factor.

Loan notes might be a feature to consider adding to BLC. Sometimes people get freaked out about someone being late, and I like being able to buy them out at an even larger profit (or a larger loss if it doesn't work out).

Oh! I might also add that there's been an influx of crap loans at BLC that mostly seem to be originating from Venezuala and sometimes other South American countries. Apparently, they're getting fake documents to create these accounts, but the pattern I'm seeing so far goes something like this:

1) Rep loan, 7-day term, something small like .01BTC
2) Second loan, usually 7-14-day term, something slightly bigger like .5BTC
3) Third loan, 14-30-day term, usually 1-1.5BTC and usually defaulting

I've been burnt 3 or 4 times by these guys, and have decided to just filter out all loans from Venezuala for this reason. There are some legitimate borrowers from that country, but it just takes too much time to sift through all the crap loans from there to be worth the effort. It'd be nice if BLC could look into how these loans are getting through so that you can potentially resolve the issue.

Also, I thought it was odd that one person commented about this exact thing in the comments of the loans that were suspect, and admins deleted the comment. Sure enough though, the loans defaulted. I don't think this is necessarily shady of the admins, but I don't see why the comment was deleted, especially when it has turned out to be a genuine issue.

Anyway, I can't speak to the efficacy of BTC Pop, as I've never used the platform, but I'll have to give it a go and see if it's any better or worse.

BTCjam has been messing with peoples account and not letting them pay as well .  crappy service

[mookid]

So far i had a good experience with BLC. They are superior to BTCJam IMHO. Yeah, you have your typical scammer, but you have to sort through the shit to find the good people who can give you a good interest rate.

[Borgminer]

yeah but this 300$ cap is BS

[hendra147]

Anyone here invests in BitLendingClub? Any input on it?

Im registered bitlending club, but not easy to found legit people :3
i think better give LOAN at bitcointalk with "bitcointalk account" for collateral
and a good profit

[Tstar]

yeah but this 300$ cap is BS

That is seriously bullshit ,why would they limit that ..
i mean they are acting like banks. But the capital on JAM is 100x more than blc.lol

[hendra147]

any 1 know how to get verification with coinbase wallet ?
my coinbase has been rejected
http://prntscr.com/89sht8

[Borgminer]

Anyone here invests in BitLendingClub? Any input on it?

Im registered bitlending club, but not easy to found legit people :3
i think better give LOAN at bitcointalk with "bitcointalk account" for collateral
and a good profit

I know of a lot of legit borrowers . myself being one of them .  I dont like to take high interest 1 month loans . my max is always 8 percent a month

[BitLendingClub]

any 1 know how to get verification with coinbase wallet ?
my coinbase has been rejected
http://prntscr.com/89sht8

When you tried to verify with Coinbase, the platform provided you with an rejection reason. The most likely reason for rejection is either the account is not old enough or you don't have a sufficient number of merchant transactions. Please note that we're specifically checking for merchant transactions (at least 20 with at least 20 customers in the past 2 months), and not wallet transactions. We don't verify your wallet activity, but your merchant activity.

[BitLendingClub]

yeah but this 300$ cap is BS

That is seriously bullshit ,why would they limit that ..
i mean they are acting like banks. But the capital on JAM is 100x more than blc.lol

Our lenders have requested that we do more to protect them, i.e. to act like a bank. Part of that effort is to do basic risk analysis: we try to determine if a borrower is willing to repay their loan and do they have the means to. If somebody is asking for a $750 loan for 30 days and their income is $200 a month (some emerging market countries), then the person is probably going to run into some trouble paying off the loan.

[0n0t0le]

Hello everyone, I propose to invest in my new quick loan for trade.
https://bitlendingclub.com/loan/browse/lid/18931/quick-localbitcoins-trading-4
 Return guaranteed. Thanks

[densuj]

I am member of bitlendingclub and i am happy on there.

[jacee]

Invested once or twice in there. At first I got repaid but then the next one never repaid back. He got his loan defaulted and there is nothing we can do but to shit that scammers thread in there. Never invest in such lending site if the listing is not monitored. I regret loosing that 0.2 btc, should've just bought something from it rather than loosing it to someone I don't know.