BTCJam

What is BTCJam?

BTCJam is a bitcoin investment and micro lending platform. You can either submit for a loan at a payment type and percentage that you choose, or you can browse loans and invest if you have some bitcoin in your wallet.

The site is well put together and very easy to get started.

How/why invest?

Investing is great if you don't plan to spend your bitcoin any time soon, I like to think of it as "let it ride". When investing you can choose an investment and then invest however much you'd like, there's no minimum "buy in" to invest.

How to get a loan?

Investing is pretty straight forward, getting a loan however takes a bit of foot work. To get the service to allow you to post your loan you need to verify a good deal of personal information. For instance to get the bare minimum rating (alphabetic rating, like back in grade-school) to get a loan you'll need to verify your identity as well as your address. Now this is just the makings of your account so you can actually get a loan. Adding things like social media, PayPal, eBay, and a coinbase account can help boost that rating so investors feel a bit more comfortable forking over their currency.

Is BTCJam worth the work?

After the whole verifications process, this platform is brilliant and well maintained. I've personally invested over $300 in BTC and have just had a loan funded for over $2,000 USD. BTCJam is structured in a very transparent way and tracks all the transactions in a simple read out with a calendar, as well as a summary readout on the right hand side.

As you can see it shows me what I've received as payment, and what has yet to come in a simple summary. If you want to earn BTC by investing on BTCJam it's a really good choice because you pick an investment that suits you. For those looking for a loan, remember you need to be dedicated to get to that stage, you just need to keep in mind that it requires documents that you need to either scan or take a high resolution picture of.

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