Read the original blog post here
BTCJam began with one mission: To provide people around the world with access to fair credit.
In the past four years we have serviced more than 20,600 loans in 122 countries, totaling more than 64,000 Bitcoin loaned. We have helped thousands of people around the world and are proud that we changed lives for the better.
We firmly believe that programmatic money and cryptocurrencies are here to stay and that there is still room for innovation in this space. That said, we have made the difficult decision to close BTCJam. The regulatory challenges around Bitcoin and the difficulties we faced in introducing Bitcoin technology to poor communities around the world are simply beyond our capacity.
No new loans can be made from today onward, and if you have any Bitcoin stored with us, you have until July 1, 2018 to withdraw it.
All borrowers with active loans can keep repaying them normally. The repayment functionality will remain available until all the loans have reached their term and either been fully repaid or have defaulted. After that, the website will be reduced to a simpler version that will only allow the withdrawal of a remaining balance.
We extend sincere thanks to all our lenders, borrowers, collaborators, investors, and everyone who believed in our dream of working together to provide access to fair credit without borders. It’s a mission we still believe in.
Team BTCJam.
FAQ
Q: Will I still be able to withdraw my Bitcoin?
A: Yes, you can withdraw your Bitcoin until July 1, 2018. BTCJam is not intended to be used as a wallet, so please don’t leave your withdrawal to the last minute!
Q: I’m currently repaying my loan. Can I keep paying it off?
A: Yes, all website functionality will remain available until all the loans are fully repaid or have defaulted.
Q: Who can I contact if I have questions about how this closure affects my BTCJam account?
A: Please email: [email protected]
