BitLendingClub beats BTCJam in Bitcoin loans volume!
Online bitcoin loans marketplace BitLendingClub has announced via a blog post that it has officially become the world's biggest bitcoin lending marketplace by servicing more than $430,000 worth of loans in June. With this, the company defeated its closest competitor BTCJam which served $415,000 for the same time period. However, the success didn't come to the company overnight, and they had been working hard for the past several months. The blog post reiterates company's commitment to improve in various areas namely, Loss Rates - The Company focused on bringing down the loss rates and....
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BitLendingClub, a Bulgarian Bitcoin crowd lending platform, has announced that they have received a €200,000 seed investment from the European VC fund LAUNCHub. Launchub is a seed fund that invests in European digital startups. BitLendingClub is a peer-to-peer platform that allows Bitcoin lenders to lend Bitcoin borrowers. Loans are offered to borrowers when the interest rate drops to a low enough rate to meet their needs. The Dutch Auction system helps establish an equilibrium interest rate that is beneficial to both parties. The company has partnered with Jumio, a document verification....
Despite the company exiting the US market for the time being, there is no indication BTCJam will withdraw its services from other regions as well. Speculation on Reddit seems to indicate this is good news for US Bitcoin enthusiasts though, as the company does - allegedly - not have the best of reputations. BTCJam is one of those companies who have tried to mix traditional finance with the decentralized aspect of Bitcoin and digital currency. By offering personal loans to consumers all over the world, the company saw an opportunity presented by Bitcoin very few businesses were willing to....
Bitcoinist.net sat down with a Q&A of Jan Heinicke-Clemm of Genesis Mining and BitLendingClub CEO Kiril Gantchev, to discuss their new partnership. What is BitlendingClub? BitLendingClub is an international peer-to-peer crowd lending platform. The platform allows borrowers from all over the world to request a Bitcoin loan. Lenders compete to offer the lowest possible interest rate for the loan and once the lenders have invested enough BTC to fund 100% of the loan, then the borrower can reject or accept the loan offer. By allowing the lenders to compete to offer a lower interest rate,....
Bitcoin-based P2P loans company BitLendingClub has officially announced its closing operations. The startup announced its departure via its blog, stating “regulatory pressures” forced the decision. BitLendingClub Shutting Down Due to Regulations. In a letter to customers on December 1, the company BitLendingClub advised it will be shutting down. The....
CCN recently published an article about the various ways that you can get a small business funded in the cryptocurrency sphere, but we didn't do the crowdfunding segment justice. As such, it's time we covered a company called BitBond, which is based in Germany, which facilitates crowdfunding in much the same way that BTCJam does. However, because of the problems that BTCJam has had, our first question for Chris Grundy, a representative of the company, was how they can ensure that funds are repaid. After all, a Bitcoin loan can very much be like a cash loan, in that once the debtor has....