BitcoLoan Scam (2022 Update): Best Crypto Loaning Platform Or Scam? #9 Was An Eye Opener!

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Updated: January 19

By: Scam Risk - Expert Reviewer

BitColoan Scam 2022: Worst Loaning Scam Out There?

BitcoLoan Scam: Overview

BitcoLoan, which debuted last January 15, 2020, is a decentralized peer-to-peer cryptocurrency lending platform that acts as an intermediary between two parties interested in borrowing or lending.

In other words, the platform’s quick search function ensures that the entire process runs smoothly.

There have been many discussions about BitcoLoan being a scam, so I decided to look into it further. Can you rely on this cryptocurrency lending program, or should you avoid it at all costs?

At the end of this Bitcoloan Scam review, I will attempt to answer questions related “Is Bitcoloan legit or scam? 

Let’s get started!

If you’re like most of my readers, you came across BitoLoan for one main reason:

You want to make more money than you currently make, ideally by leveraging resources you already have. 

Maybe you’re even looking for a quick turnaround on some of your cash, instead of waiting years, or even decades for it to compound.

Well, you’re in good company – who wouldn’t want all of that?

There’s one thing you need to watch out for though: legitimate scammers.

The idea of making 10X on your money in a day is obviously something that would entice the masses, and so it naturally attracts a lot of bad actors into the financial products space.

But for purposes of this review, let’s assume these people had the best of intentions.

Even with the most sophisticated systems out there, most experts barely manage to get it right 10% of the time…

Obviously there’s an argument to be made that 1 winning bet can outshine 10 losing ones…

But if you mess up and miss a trade even one time, your month can turn sour pretty quickly.

Suffice to say, there’s a whole lot of stress & uncertainty.

Now don’t get me wrong, it doesn’t mean you’re guaranteed to lose money. I’m just saying that you need to be aware of what you’re getting yourself into.

But what if you could build a different income stream, and start seeing profits within your first few days?

I’m talking about a system that doesn’t require:

  • Obsessively checking your phone and charts
  • The emotional turmoil of loss after loss, waiting for that win
  • Glorified gambling



Something that you could make anywhere from $2,000 – $10,000 with consistently, month after month?

A stream of income that you can build as high (or low) as you feel like building it, without spending every waking hour watching for alerts and pouring over charts?

If that sounds interesting, you might want to think about becoming a Digital Landlord.

If you wanna see what BitcoLoan looks like on the inside, keep reading.

This BitcoLoan review has been thoroughly researched with information and testimonials that are available online to anyone in the public. Any conclusions drawn by myself are opinions.

Table of Contents

Pros: What I Liked

  • Membership is free.
  • Potential to moon
The Good

Cons: What I Didn't Like

  • Only in a position to market the opportunity
  • There are no products or services for sale.
  • Tokens based on the ERC-20 standard
The Bad

What Is Bitcoloan?What Is Bitcoloan?

Bitcoloan is a platform that deals with or serves as an intermediary between people interested in LENDING money in the form of cryptocurrency to others AND people interested in BORROWING money in the form of cryptocurrency from other people.

People can borrow and lend money on BitcoLoan. In a matter of seconds, our algorithms will find the relevant offer. Borrow or earn interest on loans while we handle security and other details.

BitcoLoan is not a bank or other type of financial institution. Most importantly, that company assists people in locating what they are looking for. If a person needs money, it connects them with a lender.

On, you can get a crypto loan in minutes with a daily interest rate as low as 1.5 percent.

According to their website’s calculator, if you borrow $10 from the platform, you must pay back $13.60 in 30 days, $18.10 in 60 days, and $23.50 in 90 days.

Don’t be confused. I meant you could pay back in 30 days… or a maximum of 90 days; the more days you have, the more you’ll pay back due to the daily interest accruing.

How Does Bitcoloan Work?How Does Bitcoloan Work?

The goal of this Bitcoloan Review is to provide you with a comprehensive picture of what Bitcoloan is all about, so we’ve included a lot of information here. Here are just a few of the platform’s activities::

Get A LoanGet A Loan

I believe this is the platform’s primary function. To obtain a loan, no paperwork is required on your part. Within a few minutes, they say, you’ll have your money.

Earn (By Lending)Earn (By Lending) Bitcoloan Legit

When you borrow money from a bank, you will not pay back the exact amount borrowed, correct? Instead, you will pay more – depending on the bank’s interest rate and the time you took to pay to pack the money. This system operates in the same manner.

You sign up, deposit, and then lend your crypto asset to someone – in exchange, you receive interest (together with the amount you lent him, of course). So that’s how it works in terms of earning money.

Bitcoloan AffiliateBitcoloan Affiliate

However, referring others to the program is another way to earn money. “So, how much money do I get for referring people to Bitcoloan?

When you invite friends to become lenders on You will profit from every loan made by a friend, as well as loans made by those they invited!

How can you increase your possibilities of being chosen as the ‘loaner’?

Simple!!! Improve your rating to get a better loan and profit offer.

Benefits Of BitcoloanBenefits Of Bitcoloan

The platform believes you should join them for the following reasons:

  • Save Crypto: You are not required to sell your cryptocurrency. Put it in your account and save the value.
  • Long-Term Loans: Useful for a variety of purposes. Get a loan for one to three months.
  • No KYC: There is no need to provide proof of identity or credit history.
  • Quick Loans: Obtaining a loan will take no more than 10 minutes, thanks to their algorithms.
  • Low-Interest Rate: Banks and crypto lenders offer the lowest interest rates, starting at 1.5 percent per day.
  • No Approval: There is no need to wait for loan approval because loans are instantaneously issued.

How To Get A Business Loan On BitcoloanHow To Get A Business Loan On Bitcoloan

The following are the steps involved in obtaining a loan from the platform:

  • Create an Account: You can easily set up a free account in just a few clicks.
  • Make a Pledge: Deposit the desired loan amount in Bitcoin into your pledge account.
  • Apply for a Loan: Fill out the loan application and wait for the funds to be deposited into your account.
  • Withdraw Funds: Transfer funds to your Tether USD wallet.

How To Make Deposit On BitcoloanHow To Make Deposit On Bitcoloan

To make a deposit, navigate to the “Deposit” section of your Dashboard. You will find a separate window to set your own loan terms; the system will find a suitable individual loan.

  • Enter the amount of money you want to invest.
  • Determine the loan term
  • Select “Find Borrower” by clicking or tapping on it.

The system will find you a borrower and activate the loan automatically.

The minimum loan amount is $10, with terms ranging from 10 to 90 days. Your profit percentage is directly proportional to your account rating and loan term.

There is no limit to the number of loans you can make. It will be reflected in your balance and displayed in the Transactions section of your Dashboard.

The total deposit amount will be refunded to your balance once the loan terms have expired. You will not be able to withdraw this amount until the loan term expires. On the other hand, your daily profit is withdrawable at any time.

The terms of a business loan vary. The loan term ranges from 90 to 360 days, with a minimum investment of $100. Profit percentages may differ depending on the loan terms. Information about a specific Business loan can be found in the menu.

A business loan is a group loan, which means that it involves the entire group of lenders who raise the required loan amount. You can invest in such a loan indefinitely until the whole amount is raised.

Profits from your Business loan are automatically added to your balance and displayed in the Transactions section of your Dashboard. The entire investment amount is refunded to your balance when the loan term ends and becomes available for withdrawal.

To invest in a Business loan, first, choose the loan you’re interested in and then enter the amount you’re willing to invest. Then click the “Make deposit” button. Every 24 hours, your daily profits will be credited to your account.

You may have noticed that the loan terms now include an additional profit percentage. This percentage is determined by your account rating. Every 0.1 rating score increases your profits by 0.01 percent.

Bitcoloan RegistrationBitcoloan Registration

Registration on the platform is entirely free, but you will be required to provide information such as:

  • Email Address/Mobile Phone Number
  • Password

Bitcoloan LoginBitcoloan Login

To access the platform, you must enter your:

  • Email Address or Cell Phone Number (Depending on the one you used during registration)
  • Password

Bitcoloan App DownloadBitcoloan App Download

Download the mobile app to keep track of your loans and earnings.

Here are some additional features of the app.

  • Manage Your Loans From Anywhere and at Any Time: Quick and easy access to your account
  • Maintain Your Portfolio: You can review and manage your profile on the go.
  • Analyze Your Results: You’re up to date with just one glance.
  • Examine Your Influence: Learn more about the borrowers to whom you have extended a helping hand.

Download from the Google Play Store Download the Local App.

Is BitcoLoan A Scam?

Is It A Scam

Alright, time for the $1,000,000 question: is BitcoLoan a scam?

No, not technically. You can 100% make money with it, but it’s not NEARLY as simple as [guru] wants you to think it is.

With financial products, you need to understand that you are taking a very big risk.

So while it’s entirely possible that you hit the big leagues and retire to a vineyard… the path to get there is so stressful, it might just shave a decade off your life… IF you even get there.

A friend of mine actually writes advertisements for one of the largest financial program advertisers in the world… so believe me when I say: most of the awesome numbers they use in their ads & landing pages are borderline false.

What they conveniently leave out are the dozens of losing bets and trades that came before the big win you’re reading about.

Now, most people don’t have the emotional bandwidth to stick out 3 months of back-to-back losses before (hopefully) getting a big win.

I’d rather use that 3 months of work (in my spare time) building Digital Rental Properties, and then collect a handful of nice little $500-$2,000 checks every single month afterward (AKA recurring income).

And the cool part is that you can do it in a lot less time than 3-months (I personally did it in my first 2 weeks of being a Digital Landlord).

You can do it from anywhere in the world, so it’s a genuine “laptop-lifestyle” business.

All you need is a laptop and an internet connection.

Some of my friends are Digital Landlords that run their 6-figure businesses from:

  • Camping trips at national parks
  • Beachfront in Hawaii
  • On the road in a camper-van (with a pet pig!)


They focus on living an enjoyable life first, and focus on income second. All thanks to this program

They can take weeks or months off, and money keeps rolling in. 

Living happily is the top priority. 

If the thought of living perpetually at your dream vacation spot interests you, being a Digital Landlord might be for you!

Bitcoloan Review 2022

Second, no information about the founder is available on the platform.

In addition, if I want to borrow from them, I must provide collateral… Why would I need to borrow if I have collateral? Well…

There is no risk of losing your assets with a crypto loan like there is with a bank loan, which requires collateral such as a car or apartment that is equal to or exceeds the loan amount.

Cryptocurrency is, first and foremost, an investment asset, and selling it means forfeiting potential profits. When you use it as collateral, you protect your assets while also benefiting from them.

Furthermore, crypto lending provides the most flexible terms and saves you a significant amount of time. You will not be instructed to submit any documents or wait for approval. The procedure is relatively quick and does not necessitate any paperwork.crypto lending

So, what if I lend someone money and he refuses to repay it?

Lenders’ investments on BitcoLoan are always backed up by collateral frozen in the borrower’s account. BitcoLoan reimburses the investor if the borrower fails to meet their financial obligations.

Borrowers’ funds are protected by the general company’s security measures. They are not exposed to any risks if all financial obligations to the lender and company are met on time and in full.

Is PetronPay legit?Is PetronPay legit?

Petron Pay is not a legitimate payment method. And you don’t have to believe us because it’s a statement issued by the Swiss financial regulator FINMA.

PetronPay claims to be based in Switzerland, but it is not registered as a company there. Furthermore, because it lacks the necessary license to provide investment services, it has been blacklisted by FINMA.

Because PetronPay is selling investment contracts, which are securities, it requires approval from financial regulators. However, it lacks any kind of authorization, implying that it is an illegal investment service.

This alone is a compelling reason to avoid it.

PetronPay scamPetronPay scam

Petron Pay is a rip-off. And, in most cases, you shouldn’t even need FINMA’s warning to understand it.

Because the idea of earning 2.5 percent daily returns on oil investments is entirely absurd. It would imply a monthly return of 75%, which the vast majority of the world’s top investment firms will not achieve in a year. None of them will be able to do so monthly.

We say it in almost every review, but it’s a simple rule of thumb. If you see a promise of 1% or higher daily returns, you can bet it’s a scam. Particularly if it comes from a company that is not licensed to provide financial services.

It’s a quick way to identify scams; most of the time, it takes about one minute to realize you’re dealing with fraud, and you can move on.

Is Bingkart A Scam?See the source image

No, it is not, but you must always pay attention to details and use common sense when engaging in any type of online transaction.

In many cases, the more popular a website becomes – whether it is in the same Household Items category or not – the more complaints it receives (compared to positive reviews). Consider banks, power companies, or Amazon. They are entirely legitimate organizations, but there are always hiccups and errors.

People always complain about everything, including, but that doesn’t mean the company is a sham. You must learn to distinguish between the platform and its users (generally, not necessarily in this case).

Is ProfitsTrade a Scam?Is ProfitsTrade a Scam?

ProfitsTrade, according to our research, is an unregulated offshore broker. This does not necessarily imply that it is a scam. Still, you should proceed with caution when dealing with such a provider rather than a regulated broker. Read my trader reviews and visit other popular trading websites and forums to ensure ProfitsTrade is not a scam.

Bitcoloan Review: Clients TestimonialBitcoloan Review Clients Testimonial

The following is a TrustPilot testimonial left by a BitcoLoan affiliate claiming to be from Russia:

Everything worked fine until July, and the platform paid on time. However, there has been no way to withdraw funds for nearly three weeks; the withdrawal simply does not work, and there is no specific information.

They said to wait 5-7 days at first, then just started writing the standard “stay tuned for news.”

We’d be on or around July 7th in three weeks.

When BitcoLoan affiliates contact support, they are told the following:

Our technical service is currently working on implementing our token via the “Bridge” system. We are in the process of switching from a CEFI to a DEFI system. We apologize for any inconvenience this has caused. At the end of the project, the company will reimburse our customers in full.

The unannounced platform switch has nothing to do with BitcoLoan disabling withdrawals, even if it wasn’t a typical crypto jargon exit-scam ruse.

And, once again, switching platforms unannouncedly does not take three weeks and counting.

The end goal appears to entice affiliate investors with excuses that most of them won’t understand.

This gives BitcoLoan’s anonymous admins enough time to flee with what’s left of the invested funds.ponzi scheme

In a review, they discovered a typical crypto Ponzi scheme promising daily returns of up to 3%.

About a week ago, older videos on BitcoLoan’s official YouTube channel were marked private.

Eastern European accents were clearly audible in these videos.

BitcoLoan also recently deleted all content from their Facebook profile.

BitcoLoan is thought to be run by Russian and/or Ukrainian scammers.

According to Alexa’s website traffic analysis, BitcoLoan’s victims are primarily from the United States (18%), Russia (17%), and India (17%). According to most of the negative reviews found in Google searches, this is a terrible scam.

What Is Our #1 Recommendation For Making Money Online In 2022?

Digital Real Estate

I’ve personally tried all of the major online business models:

  • I’ve traded crypto & purchased a bunch of fancy “insider stock tip” newsletters
  • I’ve sold fidget spinners through Amazon FBA
  • I’ve drop-shipped a toilet-bowl putting green on Shopify (pic below)
  • I’ve sold women’s health supplements via Clickbank affiliate marketing


And I made money with all of them, so trust me when I say: there is no “perfect” business model.

That being said, my #1 recommendation for making real money online is, hands-down: being a Digital Landlord.

Whether you’re a complete newbie, or you’ve been around the block before but have never had that “big win” to propel you forward, becoming a Digital Landlord is for you. 


1)Time: If you’ve got a spare hour-or-two each day, you can do this. If you want to drop everything and go all-in, you can do this. More time obviously means faster results, but even putting in a few hours per day is enough to see real success.

And because of that flexibility, you don’t need to trade your time for money. Once the income starts, it’s recurring.

That means you can take a month off, travel the country, pursue a passion project, chill on the beach, or charter a boat across the world.

But you can only do that once you’ve created an income stream that doesn’t require YOU to be there all day, every day.



2) You Own & Control EVERYTHING: When it comes to the markets, nothing is in your control. You have zero influence over market-shifting macro-economic trends.

The number of people that have ACTUALLY beat the market consistently can be counted on one hand.
Why pour your soul into a business that you realistically have zero control over?

When you’re a Digital Landlord, you literally own all of the assets, which means you have ultimate control.




3) It’s Effectively Copy-Paste: Here’s my favorite part: once you have your first Digital Rental Property up, you can literally copy-paste another version of it and find another willing “renter” in a few days. DOUBLING your income doesn’t get much easier than that…

If you wanted to double your income in the markets, you would need to make twice as many winning trades, or double your profit on each trade. And I can guarantee you that’s a lot harder than a few clicks & a phone call.



4) Make Money Helping Real People: When you make money in the markets, you’re not really helping anyone but yourself. There is a loser on the other end of that trade.

But when you’re a Digital Landlord, you’re helping solve REAL problems that people are ASKING for help with:

Small local businesses around the world need one thing: customers. Without them, their business would fall apart. If we can provide those customers, they’re going to be really happy – and they’re going to pay you for it.

You’re helping a struggling mother or father put FOOD on the table for their families, put their kids through college, or simply live life a little bit more comfortably.

Having this type of impact on the world is what will help you sleep soundly at night.



So, the rest is up to you. You could keep looking at other programs like BitcoLoan, which might make you money if you luck out.

You could keep researching and researching for the next few months (or few years), never making a concrete decision.

OR, you can look deep inside, think about those dreams, hopes, & desires, and make the decision to ACTUALLY make it happen, just like it has for thousands of other students before you.

Making a fortune while actually helping real people that need it.

If this sounds like you, click here to see how it all works.

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