Are you actually active lender? because "..i heard scam rate is much lower...." is not enough to be sure it is and to drive people there. don't get me wrong scams can go anywhere but what they doing differently that others so i suposed to trust THEM?
Hi s1lverbox,
There are a number of things which differentiate BitLendingClub from BTCJam. I would say that the 3 major ones are (in order):
- BitLendingClub does not charge a transaction fee at loan closing. The fees are taken from the loan repayments, which means that if the lender doesn't get paid then we don't get our fee. This has resulted in a 96% average loan repayment rate, compared to BTCJam's 90% loan repayment rate.
- The transaction fee is effectively 1/2 of that of BTCJam. BTCJam charges 4% for all loans up until 5 BTC, and then 1% after that. We charge 2% across the board and with 99% of the loans being under 5BTC, that results in 1/2 of the BTC fee for nearly everybody.
- Interest rates are set by the free market. The investors compete to offer lower interest rates, by participating in a dutch-auction style bidding to offer the lowest interest rate.
There are many other reasons and benefits:
When we are building the platform, we always keep our user's needs in mind. Of course, we have to feed our families too, so revenue is important, but we've taken every step to align our interest with the lenders. This means that we do everything within our power to attract good borrowers and to filter out bad players. It's not always easy, but we work closely with the community to identify any issues.
Best Regards,
Kiril Gantchev
CEO of BitLendingClub
http://bitlendingclub.com