In this post I’m going to teach you how to grow your Bitcoins by 20% each year on autopilot.
A lot of people have gotten into Bitcoin in order to make some sort of a profit. But since the exchange rate isn’t a volatile as it was a year ago it’s getting kind of hard to actually profit from just buying and holding on to your Bitcoins.
The good news is that there’s actually another way for you to grow your Bitcoins on an annual, monthly or even weekly basis. It’s called peer to peer lending and it’s basically the idea of lending someone Bitcoins and getting them to pay you back with an interest.
Since these lending methods are less traditional you can get crazy returns on them. For example, at 99Bitcoins we are currently investing our Bitcoins at a 9.3% interest rate for just 2 months of investing. There’s no way we could have gotten such returns anywhere else in the market.
But as you know with great rewards also comes great risk and it’s not that easy to find these investment opportunities.
Have no fear, that’s exactly what this video is for. So let’s me show you a quick tutorial on how to grow your Bitcoins.
First go to BTCJam.com. This is the site we’re going to loan our Bitcoin through. BTCJam is a startup company which was founded in 2012 and specializes in giving out Bitcoin loans.
Go ahead and sign up to the site, I won’t go over this because it’s all pretty standard. What I would like to go over is how to find the right investments.
Once you’re logged in, If you click on “invest” you’ll see all sort of investment listings showing up. What I usually do is order them by “percent funded” and look for investments that are almost 100% funded.
Next thing I do is examine the profile of the guy requesting the investment, I want to see that this is an actual person, that his credentials are okay and mainly that he has already repaid some of his loans in the past. I also looking for how long has he been a member of BTCJam, making sure he didn’t just join last week or anything like that.
After that I examine the listing rating and the borrower’s reputation. I want to make sure that he has a decent rating on his listing and that there are no negative reviews.
Finally I go over the project description and make sure it makes sense to me. Also I examine the interactions on this specific listing to see how active this borrower is. I’m mainly looking for signs that this person has thought this loan through and is willing to back it up by responding to the general crowd of lenders.
Only after everything checks out I take a look at the actual interest rate of the investment. The reason is that most investments are going to generate a high yield anyway and it’s much more important to chose the person you’re lending money to than to filter by profit.
That’s basically it, I’m now ready to make my investment and get paid back with interest.
Before we conclude I just want to say a couple of more things:
- Please take this guide with a grain of salt and make sure to conduct your own research as well. I’m not an investment expert and everything I’m sharing with your here in this video is based solely on my personal experience.
- Also, NEVER invest more than you can afford to lose. When you invest through BTCJam you’re basically giving your money away to strangers, and now matter how good your research was, sometimes bad things happen. So remember your money is at risk.
- Last but not least, if you do decide to invest, make sure to spread your investments on as many good investments that you can find. This way, if something goes wrong you won’t have all of your eggs in one basket.
To sum things up, you can grow your Bitcoins at an amazing rate using peer to peer lending, but it’s important to take caution with who you lend your Bitcoin to.
If this post helped you out I’d appreciate you liking it, tweeting about it or sharing it on Facebook and I’ll see you in the next one.
Checked out BTC Jam today and learned they no longer offer their services in the United States. Note: you can also lend BTC or other cryptocurrencies on exchanges like Poloniex. Those loans are typically only for 2 days at a time, but can be set up on auto-renew.
I just wanna know about the website coincore.biz. is it sort of scam or a genuine company?
Hey Sandeep, please refer to this article regarding to Bitcoin scammers: https://99bitcoins.com/bitcoin-scam-alert-list-current-bitcoin-scams-scammers/
Been LENDING for a year or so as an investor, but recently realized it was a mistake… why. Because BTCJam automatically converts your bitcoin into dollars “to protect the borrower” (not the lender)… the question is… Why would I have purchased bitcoins so that the peer to peer lending websites (btcjam or bitbond) would convert it right back to dollars …so if Bitcoin goes up, I would not realize any gains because they’re locked in the dollar value now. …for 5 years in some cases!!! Bitbond at least has an option to only lend in Bitcoin, but that’s a mistake too. why?… If someone borrows bitcoin at $200 a bitcoin, then it increases to $450 (todays price), they now have to pay back twice as much in dollar value, thus making the already high potential default rate even higher. I think it’s a much better bet to just hold onto your bitcoin. DO NOT USE THE BITCOIN PEER TO PEER LENDING PLOYS. It literally doesn’t make any sense unless you invest in very very short term loans such as two months.
Interesting point of view, I’m actually going to write a followup article on this in the coming weeks. Will definitely add this perspective as well thanks for the useful information.
Ofir, its a nice tool to make some research too. Try it!
I will thanks
Hi Ofir! Great article! And…thats my listing in the video, lol ! Thanks for pick up… 😉
I guess it’s a small world after all 🙂
Great article! I just shared it with my audience as I am running a website dedicated to the topic 🙂
Thank Marco, glad you liked it!