i have always heard of btcjam and saw the ads but have never tried it.
what is the difference between lending to people there and lending here in this forum at lending section.
what do they provide as a guarantee or collateral?
Each has its own rating. There are people who are constantly borrow and return. They have a good reputation. Do not skipped borrow the full amount, but only that which you do not mind.
I have heard many good reviews about this site. No time and money that would be available to try.
there are multiple cases of default on loan, even from A+ rating, i would stay away from it , without even thinking, the only good thing is that you can divide your loans with someone else, thus is not necessary to pay the full loan by yourself
this is exactly my concern. if it is only based on ratings and the past history of the person, it can not be fully trusted. since it doesn't matter what the person did in the past, he can still run away with the loan.
for instance, here in the lending section, everyone who wants to take a load must provide something as collateral. so the lender is going to be safe.