Andras Crow-Hreidar 
CoinLoan is a secure crypto loan platform that serves both borrowers and lenders. If a user wants to borrow funds, CoinLoan functions similarly to traditional loan providers. Investors can use their fiat holdings or cryptocurrency as collateral and can earn higher returns by using CoinLoan tokens (CLT).
CoinLoan allows users to borrow up to 70% of their fiat or cryptocurrency holdings as a loan-to-value ratio. The platform also enables users to buy, swap, and sell assets, and it supports share transfers through SEPA, SWIFT, MasterCard, Visa, AdvCash, and wire transfers.
Based on our CoinLoan review, users can earn passive income by lending their cryptocurrency and fiat currencies, including stablecoins, to those who need to borrow. In exchange for lending assets, the platform provides a high-interest rate of 10% per year.
Is CoinLoan a Safe Financial Platform?
CoinLoan is a financial platform that provides various services such as fiat and crypto loans, interest on deposits, and crypto exchange. It is regulated and licensed by several authorities, including FATCA FFI registration, FinCEN MSB registration, MTR financial institution License, and MTR Virtual Currency wallet currency license.
Under the Estonian Financial Authority license, CoinLoan is reputable and offers Lloyd’s $200 million insurance coverage for its funds. Additionally, the client assets are kept secure on the platform as deposits for loan collateral and are protected under BitGo custody, while InCore Bank AG safeguards its fiat deposits.
CoinLoan operates in more than 150 countries worldwide, including the UK, the US, and some major European countries. It supports more than 15 digital currencies for instant loans or crypto exchange. Users can withdraw and deposit their currencies through some of the common payment options offered to access the platform’s functionality.
Users should complete a KYC process, which can be done within a few minutes, and deposit cryptocurrency or fiat currency to their interest accounts. They will earn interest payments every month through this account, and the money is used by CoinLoan to offer loans to borrowers. The borrowers secure a loan using their cryptocurrency holdings, and they receive their previously pledged cryptocurrency when the loan is paid back.
CoinLoan Offers Some Important Features
CoinLoan offers several important features, including a crypto lending platform that allows people to offer their cryptocurrency in exchange for short-term loans at around 70% LTV. Additionally, the platform offers an interest account where investors can deposit their savings to earn monthly interest. Investors can also earn money by offering loan requests, but funds cannot be withdrawn until the borrowers pay off the loan.
CoinLoan also allows users to exchange their coins with other coins on the platform without the need to visit an exchange, limiting fees and enabling users to invest their currency more easily. The platform also has a built-in exchange for trading on their various supported assets. CoinLoan’s native token CLT offers users access to higher interest rates based on their staked amount, and there is no minimum staking time required to receive bonus rates.
CoinLoan’s Loan Policy
CoinLoan provides a variety of loan options, including crypto-to-fiat, fiat-to-crypto, and crypto-to-crypto loans. These loans come with unique features such as flexible repayment schedules, no lock-ins, and no credit history checks. As a crypto lending platform, CoinLoan allows users to borrow crypto-backed loans and earn interest on their assets. Additionally, users can buy, sell, or swap assets on the platform.
CoinLoan also offers reverse loans, a unique feature not found on other platforms. These loans are secured by fiat or stablecoins and can be borrowed against BTC or other assets. CoinLoan is the only exchange that enables lenders and borrowers to use their assets and digital currencies.
To request a loan on CoinLoan, lenders deposit fiat currencies or stablecoins, while borrowers deposit their crypto assets as collateral. Once a lender matches with a borrower, a smart contract is drawn up to ensure the borrower pays on time, or they risk losing their collateral.
When the borrower pays off the loan, the lender receives the principal and interest, and the crypto assets are returned to the borrower. As collateral is available in the form of cryptocurrency, CoinLoan does not require credit checks. Loan periods range from 30 days to three years, and users have the option to repay the loan early without penalties.
CoinLoan Permits Interest Accounts
CoinLoan‘s interest account is a key feature that allows users to earn compound interest on their deposited funds. This option offers more benefits than traditional banking methods and provides fixed interest rates of up to 12.3% APY for deposits in GBP and other stablecoins.
One of the most advantageous features of the interest account is that users can withdraw their assets at any time without penalties. With daily interest rates and flexible tools, CoinLoan‘s interest account provides a secure way to grow savings while giving users full access to their funds.
CoinLoan’s Other Aspects Regarding Its Loans
CoinLoan provides the following features to its users:
- The funds deposited by the users are not locked, and they can withdraw their funds anytime.
- The minimum deposit period is one day.
- Interest payments must be in the same currency that was deposited by the user.
- Daily interest is deposited at 14:00 UTC, and compound interest is credited to the user account on the first day of every month.
- User funds are used to fund collateralized loans, which helps CoinLoan pay the interest.
CoinLoan Borrow refers to a range of borrowing options available on the CoinLoan platform. These options provide highly customizable tools for crypto-backed loans in both fiat and digital currencies. CoinLoan is a legitimate and secure platform that does not require users to have a credit history. A collateral asset is sufficient to guarantee loan repayment.
The loan period ranges from 30 days to 3 years, and borrowers can repay their loans early without incurring additional costs. They can repay the remainder of the loan using the asset of their choice or the asset used as collateral. Interest rates are determined by the loan-to-value (LTV) ratio, with higher collateral resulting in better terms. Users can also increase the collateral amount after receiving a loan to cover the lending interest easily.
CoinLoan’s Trade & Fees
CoinLoan‘s advanced crypto trading platform offers a range of services, including instant swaps with over 140 pairs, crypto-to-fiat payouts, and fiat-to-crypto purchases. With its user-friendly interface and competitive fees, CoinLoan’s crypto exchange is easy to use.
Additionally, CoinLoan supports various fiat payment options, including bank cards, making it accessible for everyone, regardless of their country of residence. When depositing cryptocurrencies, CoinLoan does not charge any fees, and deposits are generally free, except when using Visa or MasterCard, which incur a fee of 2 EUR plus 4.2%. Withdrawals in both fiat and cryptocurrencies are also free.
CoinLoan charges a liquidation fee of 7% on any liquidated loan collateral and a borrowing fee of 1% on the principal amount. Users who pay the borrowing fee using CLT tokens receive a 50% discount on the fee. The remaining amount is converted to CLT based on the current market value. For more detailed information, visit the CoinLoan website.
Conclusion
According to our CoinLoan Review, CoinLoan is a trustworthy platform for borrowing crypto and earning interest on crypto assets. It is licensed and regulated, ensuring the highest level of security and great customer service. CoinLoan is unique in offering interest to its investors on crypto assets, a feature not found on any other platform in the cryptocurrency industry.
