Hey Bitcoin Community! Essentially, I would like to know if you would ever consider taking out a loan in bitcoin? If you
have previously taken out a loan, please share your experiences! What were the pros and cons, and what would you improve? Thanks
taken out tons of loans, funded lots of loans. If you're gonna do it , do it through btc-jam or such a service as that with verification. Too many scammers around these days, always need some sort of escrow.
BTCJam aren't securing your loans by a bit. Many members on the site has been creating account using fake ID and their support is non existent. If you are looking for one, look for one that is trusted and can allow the borrower to put something in escrow. ID verifications isn't worth anything.
it is hard to trust anybody anymore these days. i would never give anybody any loan without any collateral no matter how much good history they have got. especially on BTCjam, the trust service and any kind of verification that they have got, is not a 100% grantee that you dont lose money to a scammer.
with collateral at least you know that your money is safe.