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When a lender pays back his loan why arnt the Bitcoins going into my wallet
Hi ajpassanantejr. It appears you have no idea what you are doing and have not even attempted to do any research before you risked your money.
I suggest you stop lending immediately and read the forums before you start again.
A few tips:
1. These are not loans, but sales. They do not get paid back.
2. It sounds like someone is attempting to defraud you with a charge-back. You need to figure out how to deal with this.
3. Post in the correct forums in future if you expect anyone to help you.
4. Don't post your private contact details on public forums. Are you crazy?
excuse me?? Um yeah I did do my research and it clearly states and I quote "
. Instead of exchanging bitcoin for money, the borrower receives bitcoin as a loan from the lender and gives the equivalent amount of money to the lender as collateral. The lender receives the collateral plus the interest fee prior to sending bitcoin to the borrower. Easy to Use
The process of secure lending is almost exactly the same as exchange. First, you deposit bitcoin to your xCoins wallet. You also specify the maximum amount you would like to invest. Borrowers make payments to your PayPal account. Bitcoin is automatically deducted from your xCoins wallet. Here is how it works:
Deposit bitcoin to your xCoins wallet and specify the maximum amount you would like to lend. This amount may be divided between multiple borrowers.
The program automatically matches you with one or more borrowers. Each borrower makes a payment to your PayPal account in dollars. The amount of each payment includes the loan amount plus your interest fee.
After each payment is made by a borrower, the corresponding amount of bitcoin is deducted from your xCoins wallet and transferred to the borrower's wallet.
Sit back, relax, and let our program do the magic! Even though there are three steps drawn on the diagram, in reality, you only need to do Step 1: Deposit Bitcoin. Steps 2 and 3 are performed automatically by our program and the borrowers. You do not need to look for borrowers, verify their creditworthiness, send them bitcoin, or do anything of that sort.
By the way, your funds are not "frozen" in your wallet. xCoins wallet works as a regular full-featured bitcoin wallet. You can withdraw your funds at any time." end quote
Once you receive the loan amount plus the interest fee to your PayPal account, you may convert the funds back to bitcoin and deposit them to your xCoins wallet for the next round of lending. Let the power of compound interest work for you. Reinvest your earnings and make even more profit.
In fact, you can double your money in less than 10 days! Consider an example of the initial investment of $100 worth of bitcoin reinvested once a day at 10% interest fee per transaction: end quote. Now in this does it imply that the funds that were deposited into your account will be deducted at any time, instead it say that, to take that money and put it back in for another round of investing. How can you with drawl the money when at any time the barrow can take those funds back if they decide to return the coins and that is including my 15% because each withdrawl was for the exact amount that was put in. and Where are the coins???? I never said they get paid back either. Its described as a loan not a sale, ARE YOU CRAZY? are we even talking about the same thing and website? Your saying its a sale but if you read your description there it states it is loan.. A LOAN!!!!! instead of being totally rude like were you could actually be just a little professional and if it is a sale like you say it is, why are the funds being withdrawn from my papal account after they are deposited??? WHY I would appreciate an explanation that isnt insulting and is just a little helpful. and I posted on this forem cause you dont have a reliable and up and running customer support
ajpassanantejr Just to clarify - I am not xCoins customer support nor am I a member of staff. I'm just another user like you so, to be honest, I am not really required to be 100% 'professional'. I generally do try though, despite how frustrating it can be to continuously repeat the same advice. Apologies if I sounded rude, but many of these questions have been answered in the relevant forums already, and, in my opinion, your post suggested to me that you had not read much of these.
The advice that I offered above is genuine - even you don't consider it to be. These are not loans (that is just semantics, probably to avoid regulatory issues), but it can be confusing at first. If you received $ in your PayPal account and your BTC balance was debited, then the transaction is complete. If the transaction was subsequently disputed and your $ were taken back, then that is theft and computer fraud, which is a serious offence. In that situation, you would need to take steps to address this (contact the buyer, PayPal, law enforcement agencies etc). It is unclear from your post if this is actually the case though.
Also, I recommend, if you haven't done so already, requesting access to the exclusive lenders forum asap so that we can delete these posts and continue any discussions there.