Cryptocurrencies are growing in popularity as the market has entered a parabolic state, attracting more investors by the day.
This is true for both retail and institutional participants as the interest from both is skyrocketing. As CryptoPotato reported earlier in February, “buy crypto” searches on Google have reached a new all-time high record and it continues to grow.
With the above in mind, CoinLoan is a comprehensive platform that offers a variety of tools targeted at investors, providing them with various capabilities to engage with the cryptocurrency market.
Enhanced Security and Trust
Right off the bat, the digital assets on CoinLoan are stored at one of the most reputable and qualified market custodians – BitGo. They are protected under a $100 million insurance provided by Lloyd’s. In terms of the fiat deposits, they are held at a crypto-friendly Swiss-based bank called InCore Bank.
The platform also boasts a zero-incident track record since its inception back in 2017 as it has never been breached. CoinLoan operates in accordance with the regulatory requirements – it holds licenses for digital and fiat assets that are supervised by the Financial Intelligence Unit of Estonia. It’s worth noting that the platform was able to renew its financial licenses with ease, despite the fact that Estonia revoked as many as 500 licenses for cryptocurrency-related companies.
Striving to always one-up its security, CoinLoan also runs a bug bounty program for security researchers for more than a year, providing incentives to ethical hackers for finding vulnerabilities on the platform.
Some of CoinLoan’s Products
CoinLoan is not an exchange or a custodian – it delivers a comprehensive set of products that are aimed at making the cryptocurrency journey of the investor entirely fulfilled.
With this said, some of the products offered by the company include the following.
With the notion of negative interest rates looming over traditional financial markets, cryptocurrency-based interest-yielding accounts are booming in popularity as investors seek ways to protect their capital.
CoinLoan offers interest accounts that enable investors to compound their yields by storing assets. The loans are funded with assets acquired at the interest accounts.
The interest is accrued daily and is paid out monthly as there are no lockups and users can withdraw their assets at any time for their convenience. The supported cryptocurrencies are also plenty and include ETH, BTC, EUR, XRP, XMR, USDT, USDC, TUSD, and so forth.
There are no deposit or withdrawal fees when it comes to cryptocurrencies and fiat, meaning you can withdraw the earnings without having to pay anything. The standard earning rate for stablecoins, British pound, and euro is 10.3% APY while for cryptocurrencies like BTC it’s about 5.2% APY. It’s also possible to increase this rate by as much as 2% with CLT staking.
This is another very popular endeavor in the cryptocurrency field as crypto-backed loans provide traders and investors with additional means of increasing their exposure without having to convert their digital assets in fiat.
CoinLoan has a maximum loan-to-value (LTV) ratio of 70% which is more compared to some of the competitors. The annual interest rates start at 4.95% but when borrowing at a lower LTV ratio, it can go up to 11.95% (at the maximum LTV ratio).
The minimum loan period is seven days while the maximum one is set to three years. Borrowers can also repay early without having to worry about any penalties and they would only have to pay the interest for the period of usage. It’s also worth noting that loans can be repaid with different assets. For example, a loan in EUR can be repaid using BTC.
This particular service allows anyone to buy, sell, and trade cryptocurrencies with a single click. There are plenty of different cryptocurrencies that are supported at good exchange rates. The execution is instant while the workflow is both simple and convenient.
This is an important tool in the ecosystem because it’s critical to have the ability to navigate within the dynamic market and respond to fluctuations.
All in all, CoinLoan provides a very convenient experience for anyone who wants to get involved with the cryptocurrency market through a variety of means. They support many assets, offer fast and friendly customer support, while also offering their platform on every device – it’s available for Web, iOS, and Android.