If you speak Portuguese, check out our original post. My last article described how BTCjam generally works and provided some tips to help you get a loan with us. This subject is increasingly relevant given that Brazil has some of the highest interest rates in the world. In fact, Brazil currently holds the record for the highest interest on credit cards bitcoin versus dinheiro do governo um e claramente superior the world. Based on a study conducted by Proteste that included credit cards from 12 financial institutions, a regular Brazilian paid in July on average an interest rate of The runner-up in this disastrous ranking is Colombia with In other words, Brazilian credit cards charge more than five times the interest charged in Colombia, and more than nine times the amount charged by the country in third place—Peru.
Several economists have analyzed this question and the answer is not conclusive. There are many elements that make up the interest that is charged to the consumer, but we can summarize them as four main factors: Raise your hand if you never entered the overdraft!
I have definitely overdrafted my bank account in the past. I remember looking at my statement day after day, and to see the growing debt was distressing to say the least just a note: Brazilian banks charges interest on a daily basis. I clearly remember a trip to Miami where I got carried away with the low prices.
I ended up spending more than I could afford and when the bill came around, I could not pay it off so I paid the minimum balance. To help people get out of this vicious cycle, one of the solutions is to exchange the most expensive debts those that charge high interest rates for a cheaper debt with lower interest rates.
This operation is called Debt Consolidation. I hope you benefited from this introduction to the concept of Debt Bitcoin versus dinheiro do governo um e claramente superior for those who did not know, and from the explanation of how BTCjam helps people repay their debt with lower interest rates than banks or credit card companies. Do not waste time; get a loan now on BTCjam and see how we can be of great help in paying your debt by saving on interest. If you know someone with debt, recommend BTCjam.
This is another blog post is directed to our Brazilian community. Esse artigo tem outro objetivo, o de explicar um dos melhores usos da ferramenta: A seguir vou explicar um por um para quem tiver curiosidade:.
Espero que tenham gostado do artigo. This blog post is directed bitcoin versus dinheiro do governo um e claramente superior our Brazilian community. Te avisaremos por email sempre que comentarem na sua listagem. Seja bem vindo ao clube! This is the English translated version of a blog post originally directed to our Brazilian community.
I would like to use this post to explain what we do in BTCjam and how we can help the Brazilian people in this difficult time of the economy.
Our mission is to provide affordable credit for people around the world. Before diving into how we work, just a brief intro on the company itself. We received two contributions from Venture Capitalists in Silicon Valley, including funds that invest in many unicorns companies such as Uber, Netflix, Dropbox and Lending Club, as well as Bitcoin companies like Coinbase and Xapo.
We have two keys to the success of our model: Bitcoin and our Credit Scoring algorithm. Bitcoin is important because it is the way we engage in over a hundred countries with lower cost and increased speed of transfer. Today, we serve loans in more than countries and by only using bitcoin we have a lean cost structure, which translates into lower interest rates charged to those who make loans through us. You may wonder what is bitcoin and need to understand the subject to get a personal loan with us, right?
You can rest assured, you do not have to be an expert, since we have partners around the world that help borrowers to convert bitcoins into Reais or your local currency simply. In the United Statesgenerally, those who pay their bills on time pay lower interest rates on loans. That means, if you pay your car loan on time each bitcoin versus dinheiro do governo um e claramente superior, you will probably have a lower interest rate than your friend, that has late payments showing up month after month.
To calculate the interest rate, we look at hundreds of factors such as salary and other traditional sources but mostly alternative sources such as data coming from Facebook, LinkedIn, Free Market, Gmail, etc.
Our interest begins at 2. Once you receive your credit rating, you are allowed to apply for a loan on the platform. This loan is published for worldwide lenders to analyze and decide whether to fund it or not. Our operation is similar: Now that you already know in general how we work, we think it is worth knowing also how best to use our system.
Following is a brief practical guide to help. This also applies to those who create accounts on other services only to use them for the purposes of registration.
This also helps you potentially lower the interest rate. These are basic tips for you to get your loan funded quickly through our platform. We are very happy to finally offer Brazilians a fairer approach — the way people in developed countries get their loans. Welcome to bitcoin versus dinheiro do governo um e claramente superior club!
At BTCjam we are constantly striving to improve the borrower experience. Recently bitcoin versus dinheiro do governo um e claramente superior updated the loan listing form focusing on long-term loans, removing many parameters. However, now we have decided to bring back short-term loans for those borrowers that want to take 7 or 14 day loans, and we have also brought back the option to pay back on a weekly basis.
Two weeks ago BTCjam simplified the loan application processso borrowers could focus on providing details about their loan rather being distracted by too many options. Last week, we improved the loan listing application by manually reviewing all loan applications before publishing previously, we used to review during the funding period.
The goal was to remove loans from the platform that are not relevant to the community as we will no longer accept loans that are intended to simply increase reputation.
The correct way to improve your profile is by linking additional social networking accounts or adding personal references from friends and family, not by creating artificial loans. After those changes, some investors reached out to us asking to bring back the weekly payment cycle and we listened. We are bringing back one-week and two-week loans. Thanks to our improved loan review process, we are willing to test the demand for short-term loans and, based upon that demand, we will decide whether to keep or remove them in the future.
User feedback is very important to us here at BTCjam and when you speak, we listen. Anyway, we are always interested to hear your ideas and suggestions on how to improve BTCjam. Please email us at support btcjam.
BTCJam, the truly global peer-to-peer lending platform, launches Android app to improve borrower registration flow and streamline the enrollment process for new borrowers.
Most of developing countries users are mobile-first users, and the most popular platform there is Android. In this first release, our app speeds up the registration process, making it simpler to submit identity, address and income proofs, necessary documents to validate a borrower to be able to apply for a loan.
Investors will also be able to register and invest through the app in real time, all while on the go. Borrowers then create a loan listing and BTCJam presents that to investors so they can pick and choose those loans that they feel comfortable on investing in. We will fight any and all attackers who try to bring down our site via any type of attack. We will not compensate criminals. To anyone who is concerned about the security of their bitcoins or their personal data on our site: BTCJam has a robust security infrastructure in place with insured cold wallets and we take great care to not allow anyone to access private user information.
Please be aware that your information is not at bitcoin versus dinheiro do governo um e claramente superior even if you are experiencing some latency due to attacks. Current interest rates in Brazil Based on a study conducted by Proteste that included credit cards from 12 financial institutions, a regular Brazilian paid in July on average an interest rate of Why are interest rates in Brazil so high?
For those who are curious, I will explain the following: Banks, like any business, have shareholders who invest in the company in exchange for a return. Banks seek profit to remunerate such shareholders with dividends. Governments not only tax the citizens, but also companies.
The more banks are taxed, the more interest they charge. The Brazilian government is known to be a bloated machine that finances its expenses by charging high taxes.
Cases like this where there is low competition do not incentivize price drops e. Banks are protected by legislation and financial bitcoin versus dinheiro do governo um e claramente superior that drive away startups seeking innovative solutions to improve services for consumers.
As a rule, the more defaults, the greater the interest. This creates a vicious cycle since increasing interest rates generates more defaults, and more defaults create higher interest rates… BTCjam has developed bitcoin versus dinheiro do governo um e claramente superior own credit system so that people pay fair interest rates that are in accordance with their ability to pay.
Learn more about how BTCjam works. The concept of debt consolidation Raise your hand if you never entered the overdraft! Conclusion TL;DR I hope you benefited from this introduction to the concept of Debt Consolidation for those who did not know, and from the explanation of how BTCjam helps people repay their debt with lower interest rates than banks or credit card companies. After all, a true friend does not let a friend struggle.
Do I need to know about Bitcoin? And how is the interest rate? Practical Guide to how to apply bitcoin versus dinheiro do governo um e claramente superior a loan on BTCjam:
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