April 2022 guide to CoinLoan products

April 2022 guide to CoinLoan products

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Jonathan
Jonathan

An editor at Coincrop


17 Apr 2022 | 6 min read
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C

oinLoan is a licensed cryptocurrency financial service provider located in Estonia but operating worldwide. It offers earning, borrowing and trading products with support for 26 assets. 

In this guide:

Disclaimer: All of the information written on Coin Crop is without influence and based on our analysis. No guarantee is offered concerning the accuracy of this information and therefore, any individual following up on it does as such completely at their own risk. Rates are correct at time of publication.

What is CoinLoan?

CoinLoan is a cryptocurrency earning, lending and trading platform.

The company describes itself as:

CoinLoan helps you borrow, swap and grow your assets. We combine the best of traditional and novel finance to offer you both solid security and favourable terms.

The company supports: 

- Earning on 26 assets (including several fiat currencies and stablecoins)

- Borrowing with 12 assets supported as collateral

- Trading between 24 assets

In addition to providing services to individuals, the company also offers corporate accounts.

What is the history of CoinLoan?

The CoinLoan history can be chronically as follows:

- August 2017: Company conceived as an idea

- April 2018: Financial licenses obtained

- July 2018: Platform live

- December 2018: Crypto-exchange service live

- May 2019: Visa and MasterCard payments enabled

- November 2019: Interest account service introduced

- December 2019: Loan service introduced

- March 2020: Fiat-to-crypto loans with fiat and stablecoins as collateral

How much can I earn?

Deposit assetsReward assetsAPY Rate

EUR (EUR)

EUR (EUR)

12.3%

Flexible

GBP (GBP)

GBP (GBP)

12.3%

Flexible

Tether (USDT)

Tether (USDT)

12.3%

Flexible

USD Coin (USDC)

USD Coin (USDC)

12.3%

Flexible

Paxos Standard (PAX)

Paxos Standard (PAX)

12.3%

Flexible

TrueUSD (TUSD)

TrueUSD (TUSD)

12.3%

Flexible

Binance USD (BUSD)

Binance USD (BUSD)

12.3%

Flexible

Dai (DAI)

Dai (DAI)

12.3%

Flexible

Bitcoin (BTC)

Bitcoin (BTC)

7.20%

Flexible

Ethereum (ETH)

Ethereum (ETH)

7.20%

Flexible

Bitcoin Cash (BCH)

Bitcoin Cash (BCH)

7.20%

Flexible

Litecoin (LTC)

Litecoin (LTC)

7.20%

Flexible

Monero (XMR)

Monero (XMR)

7.20%

Flexible

XRP (XRP)

XRP (XRP)

7.20%

Flexible

Stellar (XLM)

Stellar (XLM)

7.20%

Flexible

Chainlink (LINK)

Chainlink (LINK)

7.20%

Flexible

Wrapped Bitcoin (WBTC)

Wrapped Bitcoin (WBTC)

7.20%

Flexible

PAX Gold (PAXG)

PAX Gold (PAXG)

7.20%

Flexible

Polkadot (DOT)

Polkadot (DOT)

7.20%

Flexible

Cardano (ADA)

Cardano (ADA)

7.20%

Flexible

Can I borrow from CoinLoan?

Individuals holding cryptocurrencies may find themselves in the position of being “asset rich but cash poor” – i.e. they have a significant position in cryptocurrencies but have very little cash available. Faced with the prospect of having to sell cryptocurrencies to raise cash, a number of organizations now offer loans against cryptocurrencies as collateral.

In regard to CoinLoan, there are a number of benefits to this approach:

- Borrowing against your cryptocurrencies isn’t a taxable event (in most markets)

- Loans are approved instantly

- No paperwork or credit history is required

- Interest isn’t due for a year if the loan is repaid faster

What is a borrowing margin call?

Loans that use cryptocurrencies as collateral as not without a potential disadvantage. When you take out the loan, you will be required to over-collateralize – that is you put up more in assets than you are actually borrowing.

If during the lifetime of your loan, the value of your collateral falls and your ‘loan-to-value’ reaches a danger zone of 80%, the loan is at risk of being liquidated (i.e. losing all your money) unless you provide additional collateral.

Are my assets safe?

CoinLoan stores customer assets with industry leading custodian BitGo. This custodian has $100 million of insurance cover with Lloyd’s of London.

Additionally, assets are stored offline in cold multi-signature wallets.

Does CoinLoan offer any other services?

CoinLoan offers various trading services allowing users to:

- Make fiat deposits using SEPA or SWIFT

- Purchase cryptocurrency using Visa or MasterCard

- Exchange between different cryptocurrency assets

How is customer support provided?

Customer support is provided as follows:

- Email: support@coinloan.io

- Phone: +1 (657) 220-1706

CoinLoan FAQs

CoinLoan is located in Tallinn, Harjumaa, Estonia.

CoinLoan has raised $3.1M.

CoinLoan closed its last funding round on Aug 1, 2019 from a Series A round.

The minimum duration is one day. The maximum duration period is not limited.

Interest is paid in the same currency as the deposit. i.e. if you deposited Bitcoin, you would receive interest in Bitcoin.


Jonathan

Jonathan

An editor at Coincrop
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Jonathan is a Crop Crop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.


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