BTCPOP Exchange: Complete Review

/BTCPOP Exchange: Complete Review

Is it scam or legit? Find the answer below!

BTCPOP Exchange: Complete Review 2018-02-22T17:37:52+00:00

BTCPOP Review

  • BTCPOP is a rare species to find in the cryptocurrency world. It mainly offers loans to customers. It is a peer to peer trading exchange because it allows the exchange of other cryptocurrencies. BTCPOP accepts all countries. It also offers BTCPOP loans to its customers and BTCPOP hosts and manages its own cloud mining. Most P2P sites do not host their cloud mining. It also allows buying and selling of Bitcoins. This platform has given great opportunities to business owners and investors. BTCPOP started operating on 2014 and was founded by Lee Bartholomew, It is located at 25 Century House Menzies Road, St. Leonards On Sea East Sussex TN38 9BB, Hastings, United Kingdom. It entirely relies on its own products to compete with its competitors. BTC POP is among the top Bitcoins lending company.
  • It partners with Ardeva, a company that verifies accounts. BTCPOP offers a variety of loans to customers. It offers more than 18 loans that are linked to the currency. It provides a variety of investment tools such as lending pools, also known as auto invest. There is also a trending pool which is only made up of borrowers who have been labeled as trusted before. Savings pools are risk-free and interest is not added to the savings. Funds can also be deducted anytime. BTCPOP has also partnered with an international agency that collects debts. In this article, I will give a BTCPOP review so you can understand in details what else makes this company among the best in the cryptocurrencies world and help answer a commonly asked question, ‘Is BTCPOP legit?’

BTCPOP Review

  • You can only borrow 0.01 BTC to 500 pieces.
  • It offers loans through shares, known as cloud mining investment shares, but once you sell the shares, they give you less profit.
  • It allows the exchange of Bitcoin to Litecoin to Dogecoin and then back to Bitcoin.

It also allows exchange of the following cryptocurrencies:

REP, BCC, BTS, GBYTE, SYS, XLM,
BCN, PIVX, DASH, DCR, DGD,
DogeETH, ETC, FCT, 1ST, GAME,
GNO, GNT, ICN, RLC, LSK, LTC,
MAID, XMR, NMC, XEM,
NXT,  PPC, WAVES, XRP, ROUND,
SC, SNGLS, STEEM, STRAT, USDT,
ARDR, ZEC

BTCPOP Verification

  • BTCPOP requires verification. It has Ardeva, a company that manages the verification process.
  • To borrow money, you are first directed to Ardeva’s site. They link their account with their username.

They require the following for verification:

  1. Your ID to verify your identity.
  2. Home address with two recent utility bills.
  3. Income information which includes: tax statement and bank statement.
  4. A video presentation to verify that the information about you is true.
  5. Phone number. They send an SMS to confirm your number.
  6. Credit card
  7. Postal address
  8. Your social media accounts: Facebook, Twitter or LinkedIn

BTCPOP Fees

  • BTCPOP fees are controlled by the lenders and the lowest baseline is 5%. A contribution of 1% is given to the insurance fund.
  • The following is a fee structure table.
Reputational Points Credit Level Fee Insurance Rate (Average)
<50 F 4+1% 5%
<100 E 4+1% 10%
<200 D 4+1% 15%
<300 C 4+1% 25%
<400 B 4+1% 35%
<500 A 4+1% 50%
  • Savings pools offer 5% APR to a daily rate of 0.0137% with the interest deducted.
  • It offers investment pools that enable users to invest in various bitcoin securities on different levels because of low risk and low costs of management. As displayed on the website’s page, they give you an option to either add funds or withdrawal. The 4 levels are; A-Rated, B-Rated, C-Rated, and D-Rated.

BTCPOP Special features

  • BTCPOP offers P2P loans and to get the loan you need an IPO. BTCPOP has a system on its page that allows it to converse with members about topics like risks involved in lending amongst other issues. Some of the loans it offers are supported by collateral, which is an assurance of lack of any loss of principal.
  • The following are the advantages of investing in P2P loans;
  • You get access to loan volume.
  • Collateralized loans. These loans bring reliability, but it depends on the loan rankings.
  • There are loans that are insured against default.
  • Ardeva authentication. There is verification of users who want to get loans through their income and ID.
  • For your loan request to go through, you need other people to approve your proposal.
  • You can also pay for something like bills and taxes.

Is BTCPOP safe?

Community trust

  • BTCPOP is reliable.
  • It has been in the exchange industry for a long time.

Security

  • Is BTCPOP Safe? Yes, it is. It does not depend on other systems and services for security.
  • It has its own security system and the deposits are backed up by a cold wallet.
  • BTCPOP stores coins offline and a small amount in the hot wallets.

Costumer support

  • BTCPOP offers customers with P2P loans. It also offers other loans to customers such as collateral tied loans. The customers do not have to go through the whole process of acquiring loans from the banks, or loan sharks.
  • BTCPOP has a customer service where for any inquiries, a customer may inquire. They also have a live chat that and a feed which is live that shows what people are checking on the website. You can also ask other people questions and give your opinions about the exchange.
  • They do not take long to reply to customers.

Handling speed

  • BTCPOP loans are instant and after requesting for a loan, 10 minutes are enough to process your request.
  • It has support tickets and they respond to customers questions within 24 hours.

How to use BTCPOP?

  • If you want to request for a loan, you have to have an IPO.
  • The following is the procedure for acquiring an IPO;
  1. First, register a BTCPOP account.
  2. Wait for verification.
  3. Open the IPO page.
  4. Fill the forms on the page.
  5. Submit the forms and after others have approved your idea, wait for your loan!
  • To buy/sell you have to have an account first.
  • Then visit their website, after which you will select the options on the page depending on your pocket size.

BTCPOP Review Summary

  • If you want a loan instantly, then BTCPOP is all you need because their interest rates are quite low. Like it was mentioned earlier, they do not take long to respond to your loan request.
  • You actually determine how fast your BTCPOP loans request will be approved, because the more you find people to approve your idea, the higher the chances of your loan request going through.
  • BTCPOP can be used by beginners and can I trust BTCPOP? Personally, some people do because; the company stores coins in cold storages. BTCPOP is among the best cryptocurrencies to invest in because despite offering loans, the volumes per day are usually high and in return, it results in liquidity.

Thank you for reading this BTCPOP review. Visit our website for more reviews, articles, guides about everything crypto.