John heard of BTCjam way back when he got started with Bitcoin, but he’d never tried it. At one point he and his business partner even considered using the platform to purchase mining equipment, but never got around to getting the loan. But in December, John got into Cloud Mining in a big way, this led him back… to BTCjam.
John needed a loan to purchase a new PC for video editing. John makes educational webinars, but needed to reduce his videos from 3 hour seminars to short 3-5 minute clips and to do that he was gonna need a new PC. To get a loan for the new PC, John turned to BTCjam.
John was experienced in Bitcoin, but he’d never taken out a loan in Bitcoin before. His first attempt was unsuccessful. He created a 365 day loan with monthly payments and an interest rate of 2%. As John freely admits, “That was a mistake on my part, because the payment terms weren’t very enticing to investors.” Not one to be easily discouraged, John tried again, this time creating a six month loan with weekly payments and an interest rate of 1%. He knew the rate might be low, but he wanted to achieve a balance between rewarding investors and keeping his own rates low. It took about a week or so, but John’s loan funded successfully.
John received his Bitcoin almost instantly after the loan funded and purchased a new PC and video camera for his business. He hasn’t edited the videos yet, but he says that his new PC is “pretty amazing” and he’s already had inquiries from customers about additional video work. When asked if he would use BTCjam again, John said that “BTCjam is my favorite P2P site for borrowing money and I would definitely use BTCjam again.”
Thanks John and thank you to the investors, we couldn’t do this without you.
Until Next Time….
Keep on Jamming!