Borrow bitcoins – BTCJam, Bitlending
For the big interest of bitcoin loans at BTCJam, I decided to write a little guide about “How to get your Bitcoin loan for free”
So How ? How to Borrow bitcoins on BTCJam, Bitlending ?
So I will write here a few steps so everybody can go step by step with me:
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 (just in USA)
More information you tell about you, more Rating you get, and bigger chance to get fully funded bitcoin loans.
What else you need:
1. How much do you want to borrow
2. When you want to repay the borrow
3. How often you will send the repayments
4. What interest rate you offer
5. You can write the description of your project, but its not necessary
(For example, I want to buy a car, repair my car, my own project, for bitcoin mining, for investment to property etc.)
Example of Borrowing bitcoins
I want to borrow 2 BTC for mining on Scrypt.cc, I want borrow for 180 days, I am offering a (1% – 100%) interest rate, I have calculated that I will make x BTC per week, so i will be repaying weekly (for example, to all investors 0,2 BTC). If I will repay everything, I will get positive comments and feedback, my Rating will goes up and next time I can ask for more money!
The important thing is, that you can’t ask for 100 BTC with rating D- and expect that somebody that don’t knows you will gives you so much money (Of course its possible if you describe your project well). BUT, if your project will not be 100% Funded, for example, just 95%, then the money will be sended back to peoples and you can try other project with different tactics and smaller amount.
ATTENTION !! If you will be not repaying, you will be subscribed to the database and if you will want to borrow on the internet in the future, it will not be possible, because internet is connected more then Banks !!
Just for the info, on Btc Jam is in Investments and Loans about 45 000 BTC.