BTCPOP Review 2021

Peer-to-peer banking has gained ground with the arrival of cryptocurrencies. Various cryptocurrencies or digital currencies such as Bitcoin, Ethereum, Dogecoin have enabled crypto-based banking services across business sectors. Thousands of businesses across the globe are accepting payment in the form of digital currency, leading to increased penetration and acceptability of the digital currency system.The role of cryptocurrencies in banking has constantly evolved, and the crypto community has flourished, especially in the last five years. Multiple players have entered the banking and lending sector to make cryptocurrency-based banking easy and seamless for customers. Many peer-to-peer banking entities offer balance holding in account, payments, and earning interest on the cryptocurrency balance. 

BTCPOP Summary

Headquarters Marshall Islands
Found in 2014
Native Token No
Listed Cryptocurrencies BTC, LTC, BLK, ETH + ERC20
Supported Fiat Currencies No
Minimum Deposit N/A
Deposit Fees Low
Trading Pairs N/A
Trading Fees Small Fee on Making a BTC Transaction
Withdrawal Limit No Limits
Withdrawal Fees Low
APY No
App No
Customer Support FAQs & Query Form

What Is BTCPOP?

BTCPOP is a peer-to-peer Bitcoin banking service providing facilities like loans, investment pools, collated tied loans, and more. A customer can take advantage of various bank lending services without having to wait for approvals from a centralized authority or bank. The procedure, facilitated digitally, is open to its members only, is quite simple and hassle-free. It gives loans based on reputation rather than credit score. Members of the community can get loans from their peers or earn money by loaning money to other members. It doesn’t rely on third-party platforms for providing services. Members can trade Bitcoin, Dogecoin, and Litecoin on the platform. The peer-to-peer loan system is highly transparent and takes place in a streamlined manner.

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Is BTCPOP Trustworthy?

One might think that BTCPOP is trustworthy in terms of reliability, but it is worth clarifying that digital lending is completely safe and doesn’t use any third-party application. Whether the customer applies for a loan, custom loan, raises funds, exchanges digital currency or wants to go for proof of staking, all they need to do is take membership and set up the account.

Features of BTCPOP

If we conduct a thorough BTCPOP review and feature analysis, it would be legit to quote that it is highly user-friendly and ensures that members get the required services using digital currency from any part of the world.

To understand better, below are some main features of the BTCPOP P2P lending platform.

  • The BTCPOP account is available with a dashboard. Members can access all kinds of features through this dashboard by just registering an account. The dashboard is simple and easy to use.
  • The borrower can view the loan listing with all the details listed clearly. Members can check loan status, investing options, and loan security information.
  • Multiple loan options are available for loan members. They can get a loan instantly or list a custom loan in the open market to ask for a loan from peers with their BTCPOP account.
  • Option to Invest in shares using the platform. In only .25Btc, members can access and invest in the global share market. It also allows entrepreneurs to list their firm’s shares, make changes in existing shares, or hold shares as collateral.
  • It allows access to statements of transactions done via a downloadable file. This helps users in tallying their weekly, monthly, and annual transactions with ease.
  • Every member can get help and guidance with available tools and support easily. The tools also explain peer lending and other related topics like bitcoin investment, bitcoin stock trading.

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Services Offered by BTCPOP

Based in Majuro, Marshall Islands, BTCPOP started operating in 2014. It is among the leading peer-to-peer banking entities in the digital era. It is a highly recommended and well-regulated service provider with thousands of users signing up for loan options. The services provided are:-

  • Loans, custom loans based on reputation.
  • IPO and community-based funding.
  • Option to exchange bitcoin to litecoin, dogecoin, and back to bitcoin.
  • Proof of stake verification, investing coin in large pool; earning share in big stake.

BTCPOP Review: Pros and Cons

Pros Cons
Members can avail peer to peer Bitcoin exclusive banking services. Lenders and borrowers need to become members.
Lending is based on reputation between members and not credit score. Users must have a verified account to start.
Getting loans is quicker than conventional banking systems; no intermediaries are involved. Members need to participate in the bid to get a loan from peers.
Scope to earn money by lending money to peers. Loaning money will take place based on the reputation of the member.
Instant funding for new business with the community.
Swapping Bitcoin with other cryptocurrencies like Dogecoin, Litecoin, and back to Bitcoin.
Scope to take advantage of Proof of Staking; diversifying user balance.
No third-party services; coins are stored with the help of offline storage.
The advantage of hot wallets for storing money.

How to Sign Up for BTCPOP?

Members can sign up through a step-by-step process. They will need to enter personal and identification information for further verification. Before a Bitcoin loan is approved, the account and information will be verified by BTCPOP. 

How to Get Verified?

It verifies every member before the first loan and each following loan request. Thorough document verification is conducted before the loan is approved. It is mandatory to upload required documents to get verified for all types of loans.

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Documents for Verification

Members must fill in information like name, address, phone number, passport, driving license, income details. Uploading all the documents in .jpeg format is required. It also requires members to verify phone numbers and link the social media accounts for identification.

Getting a Loan Through BTCPOP

BTCPOP P2P lending works differently from other crypto-based banking platforms. Members can seek personal and business loans of different kinds. It charges a small fee on the type of loan applied. For instance:-

  • On no collateral loans, about 4% of the loan amount is charged.
  • On loans with unverified collateral, 3% of the loan amount is charged.
  • On loans with verified collateral, 2% will be charged on the loan amount.

Moreover, you can check out the FAQs section of the official site to get more insights.

What Makes BTCPOP Unique?

BTCPOP is a Bitcoin-driven loan and funding platform for cryptocurrency enthusiasts, which is the first of its kind. The eligibility for loan is purely based on peer-to-peer reputation rather than credit score. As a leading peer-to-peer banking system. BTCPOP offers custom loans, wherein the APR or annual percentage rate on loan can also be customized as per convenience. It is an ideal community for raising funds for personal loans with bitcoins.

Loans Offered by BTCPOP

If we review the facilities offered by BTCPOP, it would be noteworthy to mention that it works efficiently to provide desired loans to members in the form of the BTCPOP community fund. Loans are offered in the form of Bitcoin, users can get secured and unsecured loans anytime by using a range of Altcoins and shares of Bitcoin.

BTCPOP is more than a p2p platform; it is also a trust and reputation-based community, which is growing at a fast pace. Along with custom loans, loans against verified and unverified collateral, it offers personal and business loans based on bitcoin. Although below are some of the loans that is offered by BTCPOP:-

Collateral Instant Loan

Since BTCPOP inception, it has been the most innovative peer-to-peer service initiator and leading Bitcoin-based loan provider. In 2015, it started instant loans, IPO, and coin exchange features for its community. BTCPOP also introduced an Instant collateral loan which doesn’t require the borrower to be verified, and they can offer Altcoins or shares as collateral against the loan.

Custom Bitcoin Loan

BTCPOP offers custom Bitcoin loans and BTCPOP account holders can apply for this loan easily from the dashboard, by selecting the apply and get custom loan options from the toolbar on the left side.

Custom Bitcoin Loan Process

Users also need to select the following options to forward custom Bitcoin loan processing requests:-

  • Title
  • Loan reason
  • Loan amount
  • Loan length

BTCPOP Reviews - BTCPOP Registration ProcessBTCPOP Reviews – Signup & Take Loans with BTCPOP

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First Loan With BTCPOP

Getting a loan is simple, as it allows Bitcoin-exclusive transactions. Lenders provide loans on the basis of member reputation. Once the first loan is approved, members can apply for other instant loans later on. The following steps should be followed to avail the first loan.

  1. Lenders need to create an account and choose a username and password. With the username, they will be able to communicate with borrowers on the platform. 
  2. Next, the required documents need to be uploaded to get verification for applying for loans. Next, information such as name, address, phone number, passport, driver’s license, and income details must be filled in, and the documents have to be uploaded. Additionally, phone numbers need to be verified and social media accounts must be linked to the borrower account.
  3. Largely based on the reputation for collateral-based loans, every member must build an online reputation to get loans. To build a reputation, it is recommended to buy or hold collateral. Users can hold Altcoins or bitcoin shares in the form of collateral.

Things You Should Know Before Taking Loan with BTCPOP

Building a Reputation for Loan

Loans are approved on the basis of online reputation, trust, and collateral for members. And, thus building reputation is the foremost task before applying for a Bitcoin loan.

Collateral Types for Loan

For this type of loan, shares and Altcoins can be held. The value of the collateral is normally calculated on the basis of asset value and the last traded price of exchange on the same.

How to Repay Loan?

Every loan, whether personal, business, or custom, has some terms and conditions as per the rules and regulations. BTCPOP generally sends the instruction to the borrower for repayment terms and conditions, and the repayment must be done accordingly.

BTCPOP Customer Support

The BTCPOP, one of known crypto lending platforms, provides instant customer support to all members. Support is provided through live chats, email, and ticket systems. In case of any hurdle; members can raise issues at any point.

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BTCPOP Review: Conclusion

The virtual currency-led P2P banking system is providing value to customers directly. Platforms like BTCPOP are coming up as a free market to revolutionize digital services and loan options for borrowers and crypto-enthusiasts. The penetration of digital currency is increasing each day.

FAQs

Is BTCPOP Legit?

This platform is a highly reliable and secure platform for bitcoin-based loans, community fundraising, cryptocurrency exchange, and proof of stake system for digital currency enthusiasts. The community is reliable and fully regulated under community rules.

How Do I Repay a Loan on BTCPOP?

A member can repay the loan on the basis of terms and conditions sent by BTCPOP. It generally sends the instruction to the borrower for repayment terms and conditions, and the repayment must be done accordingly.

Does BTCPOP Offer Any Other Types of Loans?

A unique P2P lending platform offering reputation-based community loan and funding options, BTCPOP also offers custom loans, loans against verified and unverified collateral. It also offers personal as well as Bitcoin-based business loans.

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