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CoinLoan is the platform where anyone can lend or borrow crypto coins. It is the first peer-to-peer (P2P) lending platform that offers you cryptoassets backed loans. Simply put, you can borrow, exchange fiat currency, cryptocurrencies, and earn interests from any part of the world all at one place.

  • Unlock Potential of Idle Assets
  • Reasonable Rates
  • Easy Withdrawal
  • Easy Loans
  • Variety of Currencies
  • Market Volatility
  • High Default Rate

What is CoinLoan? 

CoinLoan is the platform where anyone can lend or borrow crypto coins. It is the first peer-to-peer (P2P) lending platform that offers you cryptoassets backed loans. Simply put, you can borrow, exchange fiat currency, cryptocurrencies, and earn interests from any part of the world all at one place. 

CoinLoan is based in Estonia, Europe and works all across the world. CoinLoan was first established in 2013 by Alex Faliushin when he was forced to sell Bitcoin for $100. Early in 2017, the value of Bitcoin (BTC) increased 10 times more. However, there was no way to either save cryptocurrency as a long-term investment or unlock BTC value to meet pressing needs.

Stirred by these needs, both Faliushin (CEO) and his business partner (CTO), Max Sapelov decided to create a platform that enables users to use their crypto assets as loan collateral. Since then, CoinLoan has been offering fiat-to-crypto loans to users with fiat currency and stablecoins as collateral. CoinLoan platform is safe to use as it strictly adheres to EU regulations. This platform is licensed under Estonia Financial Authority. 

In order to ensure that CoinLoan complies with European and International regulations, CoinLoan strictly adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. Services

CoinLoan platform enables users to borrow funds against their cryptocurrency holdings. For individuals who are looking to generate passive income, CoinLoan also offers lucrative returns wherein they fund investment with fiat money or stable coins. 

You can borrow funds for both on short-term (7-days) as well as on a long-term basis (up to 3-years) using CoinLoan exchange platform.  However, it is to note here that borrower will need to pay interest on their borrowed funds with your loan provider/lender. 

CoinLoan Interest Account

One of the key earning features of CoinLoan is its Interest Account. It enables both borrowers and lenders to earn high-yield returns in a fast and easy manner. It allows investors to create an Interest Account by which they can earn up to 8% of interest each year for depositing their coin loan tokens. There are no fees involved in using Interest Account, withdrawal, and deposits. 

interest account coin loan
CoinLoan Interface

How it works?

Interest Account on CoinLoan requires you to fund your account with fiat or coins to earn up to 10.3% APY (Annual Percentage Yield). This is the highest annual interest rate offered by CoinLoan. 

After you deposit the funds, you can start generating profits. Interest is accrued daily and deposited into your wallet directly on the first day of every month. Unlike traditional bank saving accounts, your funds are never locked, you can withdraw them at any time you want. Interest Account’s Interface has only 2 buttons; one for deposit and second for withdrawal. 

How is CoinLoan Interest Calculated?

CoinLoan calculates interests using its Interest. All you need to do is to follow these steps:

  • Add the amount that you intend to deposit. Your deposit amount can be in fiat, cryptocurrencies, and stablecoins. 
  • Choose any currency that you want to deposit
  • Select the period (1 month, 6 months, 1 year, or 3 years)
  • Interest Calculator will calculate earning based on your input.

For instance, if you deposit 100,000 USDC into your Interest Account, for a period of 1 year, you will earn 10,300 USDC (See Figure Below). 

Note: interest is paid to you in a similar currency in which you have deposited your funds in your Interest Account.

What are the Withdrawal Limits?

At CoinLoan, withdrawal limits mean the minimal amount that you can withdraw. CoinLoan has updated its withdrawal fees that have allowed us to reduce limits specifically for euros and other cryptocurrencies. 

Now, users can easily transfer 0,001 BTC from CoinLoan platform rather than 0.01 BTC. You can withdraw all your funds at any time you want with just a single click.

If you want to find your withdrawal limits, log on to ‘My Wallet’ and find a currency that you need and tap on Withdraw. It will show you the sum available for your withdrawal along with a minimal amount of withdrawal, and fees.

What Coins Can You Use to Earn Interest?

Presently, CoinLoan allows users to earn interests on their deposits in different currencies inclusive of fiat, stablecoins, and cryptocurrencies. In particular, you can use BTC, BCH, USD coin, LTC, USDT, and many more.   

What are the Rates?

The interest rates vary depending on the type of cryptocurrency, fiat money, and stable coins. See Figure Below:

What Are The Risks?

On CoinLoan, the rates for interest may vary. Moreover, investors can earn interest only when borrower uses their loan offer.

Is There Any Verification Process Needed?

This Interest Account is available for all users no matter where they live and what role do they play (borrower or lender). To create an Interest Account on CoinLoan, you need to verify your identity with documents that follow KYC/AML requirements. 

Are There Any Withdrawal Fees?

At CoinLoan, withdrawal in fiat currency and cryptocurrencies are totally free. 

What Are The Investment Periods? Are There Any Limits?

At CoinLoan, the minimum investment period is 1 day, whereas the maximum period for the interest period is not limited.

Crypto Loans

CoinLoan allows you to use your cryptocurrencies as collateral to get loans. All you need to do is to follow these simple steps:

  • Sign up on the platform and create an account after completing KYC procedures.
  • Now you will need to deposit funds in your account. You can deposit any cryptocurrency in your wallet including BTC, BCH, LTC, ETH, XMR, ONT, and CLT to back your loan. 
  • Select interest rate, loan currency and your desired loan amount and loan terms. 

Remember, the higher the interest rate, the faster your lender will accept your application. Make sure you thoroughly check the lending market before creating a loan request. 

What Are The Rates?

On CoinLoan, the interest rates are fixed within the instant loan. However, they may vary for various assets. Users can see how rates change when they change their local currencies. 

What Coins Can You Use As Collateral? 

On CoinLoan, you can use the following coins as collateral:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH) 
  • Litecoin (LTC) 
  • Ripple (XRP) 
  • Monero (XMR) 
  • CoinLoan Token (CLT)
  • Ontology (ONT)

Are There Any Tax Benefits?

Borrowing of money using your crypto assets is not a taxable event at CoinLoan. This is because the borrower is not making profits on their crypto-backed loans. However, the value of your crypto coins can be unlocked, and that does not require the borrower to pay up to 37% of taxes.

Are There Any Risks?

CoinLoan assures lenders a complete absence of risks as it guarantees a 100% repayment of funds along with accrued interest. 

CoinLoan has a specific system that approves each loan given to the borrower. More precisely; borrower’s crypto collaterals secure each loan. In case the borrower fails to repay the loan, this system starts liquidating collateral either partially or wholly. 

Similarly, borrowers also endure minimal risks, as long as all they fulfil loan obligations to the full extent. It is essential to maintain the percentage ratio between the crypto lateral and loan amount. Borrowers might risk losing their collaterals in case of a significant fall in the crypto value as well as non-repayment. 

When Are The Repayment Dues?

Once the funds have been issued to your bank account, the first payment would be due within the 30 days with another payment due in the next 30 days following the previous payment.

Explain LTV and Margin Call in terms of CoinLoan?

LTV (Loan-to-Value) is a ratio between loan payment and the market value of your collateral. Make sure your LTV is lower that make your cryptoassets safer, specifically when their market value decreases. 

Margin Call refers to the alert or email notification that you will get in case there is a drop in the market value of your collateral. 

Is There Any Verification Process Needed?

CoinLoan verifies the identity of users as a security precaution. Verification process takes only a few minutes. Select ‘My Account’ tab, which is present on the upper right-hand corner. Now you will be presented with a verification page which is a simple and short drop-down menu.  Select “Verification”, and provide the following information. 

Coinloan Review 2020 17

However, there is no need of credit history for borrowers to get a loan. CoinLoan does not require any paperwork for verification of borrower. Rather, the loan is backed by coins that are deposited by the borrower and that protect the lender’s fiat funds. All users can easily customise their account, specific terms of the loan, cryptoassets for collateral, fiat money to lend, interest rate, and LTV.

Is CoinLoan legit\ guaranteed?

CoinLoan is a legitimate business as it has undergone a series of checks for financial stability, legality, and security to obtain a license. Besides, CoinLoan has secured various certifications and licenses (see figure below).

Insurance Policy

On CoinLoan, users’ account is not a saving, checking, or other types of account. Therefore, the account does not cover any insurance against any losses. Moreover, CoinLoan platform is not a depository institution, and your account is not a deposit account. Cryptoassets in your account does not cover deposit insurance. 

Terms of Service

To avail CoinLoan products and services, you need to register yourself on the platform through creating an account. Registered users must meet the following terms:

  • Users must be 18 years and old.
  • Users must have full legal capacity.
  • Users must not have any insolvency records.
  • Users must not be under the influence of drugs, alcohol, or any other toxic substances.

User cannot register on CoinLoan platform if he/she is a resident of any jurisdiction wherein:

  • Platform operator is an unauthorised person to offer its services
  • Either the US or EU has banned products and services that resemble our services
  • Use of services will be considered as illegal 
  • Users must not be placed on any sanction by a governmental authority 
  • Users are strictly prohibited from using the platform for conducting any illegal activity
  • Services will be stopped, and the agreement will be terminated immediately in case of users conceal any information about residing territory and sanctions from platform management.
  • Users must undergo specific KYC procedure to create an account on CoinLoan. Any failure to provide personal information may lead to termination of your account.

CoinLoan Guarantees 

Besides legal status, CoinLoan has a protected infrastructure that ensures the security of funds. This platform guarantees lenders full repayment of a loan through crypto collateral. CoinLoan notifies borrowers automatically regarding due dates of upcoming loan repayment. 

Besides, lenders are notified once the loan is repaid. Moreover, CoinLoan ensures both lenders and borrowers that all the transactions are highly secured with SSL protocol and other security measures.

CoinLoan Support

CoinLoan keeps the security of users at its heart. If users suspect that their password has been hacked or is likely to become known to any unauthorised party, they should inform us immediately via email at [email protected]

Moreover, CoinLoan reserves the right to amend any of the terms of service at any time without informing users. If users disagree with any of our amended terms, they may terminate their agreement by notifying CoinLoan before 3-days through email at [email protected]

Means of Communication

If you have any query related to anything, CoinLoan has different means of communication. You can use any platform that better suits you, including Facebook, Medium, LinkedIn, Twitter, Reddit, and Telegram. 

You can also contact us at [email protected]

Or send your queries at [email protected] 

Or give us a call on the following numbers:

  • +372 634 6411
  • +1 (657) 220- 1706

Customer Reviews

Above mentioned are the genuine customer reviews regarding the CoinLoan platform and its services. Customers really like the idea of CoinLoan and its reliable crypto lending services. 

Users acknowledge that CoinLoan involves fewer risks for both lenders and borrowers. Moreover, this platform has garnered much attention among crypto holders as it offers an easy and hassle-free way to earn passive income via CoinLoan Interest Account. Users can now earn up to 10.3% profit on their idle assets. 

Not only this, customers appreciate the CoinLoan’s feature that allows them to create customised loan application based on their needs and specific loan term conditions.

Dmitry Leiko

My name is Dim. I am a marketer and cryptocurrency enthusiast. I have consulted on SEO issues for companies such as, cointelegraph and other major media. I am interested in DeFi and cryptocurrency loans. I study this field, test different companies and share honest experience on this site.