(OroyFinanzas.com) – Las startups Bitcoin BTCJam y Volabit, brasileña y mexicana respectivamente, se alían para permitir que usuarios mexicanos puedan invertir con bitcoin a través de una plataforma de micropréstamos para la financiación de proyectos internacionales. Read More…
Hola Jammers! We’ve got great news this morning… BTCjam is partnering with the leading Mexican Bitcoin exchange Volabit to bring our users from Mexico a superior Bitcoin experience. Volabit users can now transfer funds and activate automatic payments all from BTCjam.com! Lending bitcoin and gaining returns has never been easier, and Volabit users can now transfer their bitcoins to BTCjam without ever leaving the site. Together Volabit and BTCjam make borrowing and investing bitcoin in Mexico simple!
- You can withdraw bitcoin seamlessly from Volabit without leaving BTCjam
- Your automatic payments can withdraw from your Volabit wallet to make a payment
BTCjam CEO Celso Pitta said, “I’m thrilled about our Volabit partnership. Volabit integration will make BTCjam much easier to use for our customers in Mexico.” Hannah Kim, Co-Founder of Volabit agrees, saying “BTCjam is one of the most exciting companies in Bitcoin and we’re delighted for how our new partnership makes bitcoin borrowing and lending easier for our customers.”
“Volabit integration will make BTCjam much easier to use for our customers in Mexico.” – BTCjam CEO, Celso Pitta
Get detailed instructions on how to connect your Volabit Wallet to BTCjam on the BTCjam Blog! Once you have connected your Volabit wallet, you can easily transfer bitcoin to BTCjam and make automatic payments on your loan. It’s just that easy.
Attention Bitcoin Wallet providers, we are looking to integrate additional wallets! Please contact us at email@example.com if you would like to partner with BTCjam.
About BTCjam BTCjam is the global leader in peer-to-peer lending using Bitcoin, and the first to offer a proprietary credit score to its users. BTCjam’s disruptive credit model is changing the way borrowers and investors connect, providing a new path to financial freedom for users from more than 200 countries around the world. BTCjam promotes lending without borders, where people can borrow and lend bitcoins, without having to worry about banks and other intermediaries. Transactions are instantaneous, hassle free, and supported by an engaged, trusting global community.
About Volabit Volabit is the fastest and safest way to buy and sell Bitcoin in Mexico. Founded in 2014, Volabit has more than 4,000 users and they have converted more than 24,000,000 pesos into Bitcoin. Volabit received venture funding from the Bitcoin Opportunity Corp and has been described as the “Coinbase of Mexico”. Check out Volabit at https://www.volabit.com
Since its creation, BTCJam lent $12 million in bitcoins, $10 million of which between January 2014 and January 2015. The expectation is to end this year with a 20% increase over the total already granted. Currently, the average rate on loans is around 40% per year, but the cost varies depending on the credit history of each customer.
BTCJam is proud to release the first edition of the stats page!
Feel free to take a gander and play around. The keys at the bottom of each chart are filters!
Here is an in depth explanation:
We begin with the overview map of all loans that have been serviced on BTCJam by location.
Top 5 Countries or Regions:
- United States: 3,900
- United Kingdom: 632
- Brazil: 383
- Canada: 350
- Australia: 281
- Kenya: 83
- Indonesia: 211
- India: 161
- Argentina: 102
- Turkey: 72
Below the map is a graph displaying the loan volume per month beginning January 2013 to August 2014.
The blue line shows the growth by loan amount in USD, please note that each loan is indexed to the current market rate of bitcoin at its activation.
The green bars reflect the total amount of loans per month.
Total Investor Returns reflects the return on investment (ROI) from January 2014. If an investor had invested in every loan since then, this would the ROI by credit score.
The ROIs are broken down by the borrower’s credit score and include the defaults.
Here is an explanation for BitstampUSD loan types vs. Bitcoin loans.
Loans by Credit Score shows the percentile of all active loans by credit score of each month starting January 2014. When you hover over, you can see the loan amount in USD (indexed to market rate of Bitcoin at loan’s activation).
The Loan Purposes chart is a pie graph displaying all the different loan types.
Thank you to all our borrowers and investors for making BTCJam the leading P2P Bitcoin lending platform!
Stay tuned for more updates and additions to the stats page 🙂
Hey BTCJam Users,
We are always working to bring new and exciting features for the BTCJam family. Today we are thrilled to announce two very important improvements to BTCJam.
On top of inventing the world’s first global peer-to-peer lending platform using bitcoin and the world’s first truly global credit score, BTCJam keeps pushing the envelope on revolutionizing and innovating the financial space.
With your help, today BTCJam will launch the world’s first truly social lending platform. Investors and borrowers can share ideas, strategies, and opportunities.
We believe this will lead to more secure, diversified, and profitable investments.
New Dashboard with Newsfeed
There is a new dashboard in town. The redesigned dashboard perserves the key features to the BTCJam experience.; in addition, it helps you stay up to date on what is happening on BTCJam.
What is the newsfeed?
Similar to Facebook, the newsfeed highlights everything that is happening with the people you trust and follow as well as the listings you invest in on BTCJam. You can see when people publish a new listing, make investments, make payments, comment on listings, and share listings they think are particularly interesting.
How do I enable the social feed?
You can enable the feed in your settings here: https://btcjam.com/users/edit
Who will see my actions?
Currently, everyone who follows you on BTCJam will see your actions in their newsfeed.
Furthermore, all investors in a listing that you created, commented on, or invested in will see comments and payments from that particular listing, whether they follow you or not.
The newsfeed does not share anything that was not already publicly available; it just makes it easier for you to keep tabs on what is going on with your investments and comments.
A new social platform has to be enjoyable and easy to use. That is why we are also very proud to release BTCJam’s updated design. The new design looks fresh, modern, and aims to reflect the truly innovative DNA of our company.
We hope you have as much fun using it as we do.
Check out the all new BTCJam at https://btcjam.com
Your BTCJam Team
Nowadays there are dozens of ways to attract money for either personal or business purposes. Besides traditional financial banks, there are various alternative financing solutions that have experienced tremendous growth in the past decade, all serving different groups and targeting their specific needs. When considering these alternatives, you have to think, what is the origin and development of lending?
How It All Began
The first traces of lending and borrowing go back to 12.000BC. Our ancestors implemented a system where they swapped goods in exchange for foodstuffs or tools. In Japan, for example, rice was used as the predominant form of currency for thousands of years. 3.000 years later, societies began to use coinage as a transaction method and pictographic tablets of clay to record economic transactions. Borrowers would receive a loan in coins (ie: to buy a cow) and the lenders would receive payments in goods (ie: milk). Eventually it was the ancient Romans that laid the foundation for the banking system, formalizing the administrative aspect and creating rules and regulations for financial transactions.
From the Romans to Medieval Times
In Roman times lending was primarily carried out by private individuals. Over time, large wealthy families replaced individual lenders as their own sort of “institution.” The Jewish played a significant role in the development of the banking industry in Europe and Africa since charging interest was forbidden by Christians.
Charging interest was commonly used in ancient times, but with the rise of new religions its moral basis became questionable and sometimes forbidden. Jewish people were not allowed to charge other Jews interest, but this restriction didn’t apply to people of other faiths. In contrast, the Christian church initially banned interest and kept this policy for centuries.
From the Middle Ages and thereafter, lending and other financial services were more formalized. These activities became predominantly carried out by budding banking institutions. Although the first bank was established in Venice, Italy, the banking industry spread to northern and western European countries soon after. The English and the Dutch established the first modern banks in the late 17th century, which were in many ways similar to how we know banks to be today.
For decades, banks have been the main resource for capital investment; unfortunately, their reach does not go far enough. Banks have proven to be hesitant to service higher risk groups such as: start-ups, entrepreneurial enterprises, and people with an irregular income. To add to this, the strictness and limitation of banks worsened after the financial crisis of 2008. Financial institutions abruptly cut back on issuing loans, therefore, making it significantly harder, and in some cases impossible for people to get loans.
In reaction to the turmoil banks were facing and the new restrictions they implemented, alternative-financing companies stepped into the lending space. The three main new resources for people and businesses to attract capital are: peer-to-peer (P2P) lending, crowd-funding and micro-lending. These concepts have similar characteristics, the most importantly, they all avoid the intervention of traditional financial institutions. Often there are significant differences, which are sometimes forgotten, therefore, leading to confusion and misuse of the terms.
In the next blog post I will discuss these three alternative financing solutions, their key characteristics, and main purpose.
We are very proud to introduce an important new feature for investors: Expected APR. With this new feature, you will be able to have a better estimate of how much you will earn with your investment. In the browse listings page, you can now filter by the expected APR, and on the specific listing page you can view the effective APR and estimated loss.
What is APR?
APR (Annual Percentage Rate) tells you how much your bitcoin will grow at an annualized rate when invested in a loan. For a 1 month loan, imagine re-investing the Bitcoin you got back in another loan with the exact same terms 12x over the period of 1 year. It is a standardized computation that provides the bottom-line number that reflects how much an Investor can gain.
What is Expected Loss?
BTCJam calculates the probability of loss determined by historical repayment rates, the borrowers information, and repayment behavior on BTCJam.
What is Expected APR?
APR – Expected Loss = Expected APR
This calculation is the expected gain determined by the APR minus the Expected Loss. This is the estimate of how much you will gain.
For example, a loan of a $100 has:
Expected Loss: 0.11%
Expected APR: 8.09%
And you invested the Bitcoin equivalent of $10.
The APR is 8.20% so you could grow your bitcoins to the equivalent of $10.82 with an Expected Loss of $0.01.
If you invest a total amount of $10,000 with each invesement at $10 in 1000 of loans with those exact numbers, it is expected that 1 defaults (1000×0.11 ≈ 1), so you lose 1 and 999 loans grow with 8.2% a year. 999x10x1.082 = $10,809.18.
Now, your effective return is ($10,809.18-$10,000)/$10,000 = 8.09% which matches your expected APR. Be aware that the expected APR is based on the historical performance of BTCJam’s repayment rates and that your actual performance may vary.
Remember, having a diversified portfolio significantly lowers the risk of your investments! Learn more about diversifying here.
Excited? Check our newest listings!