BTCPOP

Pros: If you want to legally steal from people, take lessons from this site. They are doing a great job at hiding the true nature of the website. To steal from people.

Cons: It is a clever way to conceal the true nature of the website. Get people to add currency and let people invest it on your site. Then all of a sudden your account is banned. No one else even knows what happened to you. No one else knows you were banned. In the mean time, they keep whatever crypto you had on their site.
Casmir is a thief.

Overall: You might think I'm full of crap and making this up. and for you and your experience this might be true. But for me and many others like me, BTCPOP are a bunch of thieves.

Pros: Get to understand how cryptocurrency micro-credits work. Either lend or borrow cryptocurrency for personal or business use is possible.

Cons: The lack of explanation on the detailed working of lending and warning against scammers.

Overall: From a personal perspective, while this claim is probably not valid, I do believe btcpop can do a much better job in educating its visitors. It is very difficult to assess the status and reputation of a loan in the Notes section from the overview, so you must open each note and read the full feedback to assess if it is a trustworthy loan, which, in most cases, reading the notes, it isn't. This makes btcpop a great place for scammers, and little is done to prevent scamming. Worse, loans that are already in Collection status for a long time can still be invested upon without any warning. Is is also NOT (!) possible to back out on an investment - it is only possible to sell it to another user - which for loans that are not repaid is virtually impossible unless you manage to trick another newcomer in making a bad investment... too decent for that myself :-). Also, borrowers promising a certain payback are not mandated to put any insurance down, which makes scamming rather easy. Accounts of scammers that are not paying as promised are not blocked unless they comitted obvious fraud like having multiple accounts. So you can get away as a scammer even with a bad reputation. Only the trust level gives you some guidance, but that means any serious starting borrower doesn't stand a chance, because of the scammers... which renders this platform quite useless for any personal loans.


Any financial provider has the duty to explicitly inform or warn and protect its customers, and in this case, I must conclude btcpop is not taking that role very seriously.

That said, any investor has a duty to do research, and I myself lost some (albeit not much) money in failing to read all comments on some borrowers. btcpop may put the W.C. Fields anthem in bold print on their homepage: 'Never give a sucker an even break'.

In summary:
- btcpop not recommended for inexperienced investors
- customer service is bad in the sense that there is no guidance on good practice whatsoever. FAQ does not mention the potential issues I just enumerated. They do respond to critical feedback with: 'yup, that is what p2p trading is like, can't help it. Do your research'
- You made a bad investment to what was in hindsight a scammer: do not expect to get your money back in any way.