Despite banks being shut down.
With Greece being on the brink of leaving the Eurozone more than ever since their financial crisis started in 2008, banks have literally closed their doors in order to prevent a collapse.
Tough limits on withdrawals from ATMs are enforced and capital controls will be in place until at least July 7th after the Greek citizens’ vote to remain in the European Union and accept the high level of austerity measures. Amid all these economic short-fallings, the Greeks are flocking towards Bitcoin.
“Ten times as many Greeks are registering to trade bitcoins on the German marketplace Bitcoin.de than usual, according to CEO Oliver Flaskaemper. Bitcoin trades from Greece have shot up 79% from their ten-week average on Bitstamp, the world’s third-largest exchange.”
The banks are clearly not doing much lending either, and with the press in a frenzy over the politician’s take on Greece’s imminent default, we are not hearing about the struggle faced by the 11 million citizens. The 11 million that will be voting for themselves to stay in the EU or not. The Greek citizens who are shrouded with uncertainty and waiting in the ATM lines that are to the street to get cash to pay for their bills, food, and childcare.
Harnessing bitcoin as a tool for international credit, BTCjam, a global lending network, can service a loan for a Greek today using a proven, and unique credit model.
The process is simple.
Enroll in 5 Minutes. Apply for a loan. Get your loan.
If you want to convert your bitcoin to local currency, you can send your bitcoin directly to an exchange for local currency. To payback the loan, you send local currency to your exchange account and then send the bitcoin to your BTCjam account.
Or, grow your coins and get returns up to 19% APR.