By
Ibukun Ogundare
July 5th, 2022
CoinLoan is a reliable platform for traders, miners, investment funds, private investors, and crypto enthusiasts.
Despite some dips, cryptocurrency has increased in popularity in the last few years, so the demand for traditional financial services – but for digital assets – has also grown. Crypto enthusiasts, whether newcomers and old players, are looking for reliable financial tools to make their funds work for them. The crypto world is no stranger to scams, thus traders and investors are constantly searching for a trusted platform.
This is where CoinLoan comes in. CoinLoan is a European licensed and regulated crypto lending platform. Since its inception in 2017, they have been known for their clean track record as the security of clients’ funds is one of the platform’s top priorities. Over 100,000 clients from 160 countries worldwide, including from the U.S., trust CoinLoan, so let’s take a look at some of the features this platform is renowned for.
Security Features
- Hot wallets are not the safest place to store your funds, which is why CoinLoan utilizes BitGo storage and custodial services. The client’s funds are stored in bank-grade crypto vaults and are insured with $100 million coverage. This extra layer of security is why they have remained incident-free for 4 years now.
- It may seem like you have more to worry about since you can store fiat on the platform as well, but CoinLoan holds those assets at InCore Bank, a crypto-friendly Swiss-based bank.
- CoinLoan operates under the European regulator’s supervision and holds all digital and fiat assets licenses.
- They even have a bug bounty program to reward ethical hackers that find vulnerabilities on the platform to remain safe and robust.
- There’s a KYC procedure on the platform. You don’t need to contact third-party services, as the entire process takes place within the CoinLoan platform. Just upload photos of an ID and a selfie, and within minutes you can start using the platform.
All of this security protects the three primary services offered by CoinLoan:
You need cash but don’t want to sell your assets, or maybe you want to hold a coin but also have liquid assets to trade with?. Whatever the reason, you can get crypto-backed loans with a minimum loan period of 30 days and a maximum of 3 years. Borrow crypto for crypto or fiat/stable for crypto, your loan options are extensive. Repay the loan whenever you like with no penalties, even early, and cover them in whatever currency – digital or fiat – that you’d select.
CoinLoan Instant Loan customization desk.
Loans are easy with CoinLoan – you can borrow any asset, including stable coins and fiat, against your crypto in just a few minutes without paperwork. You don’t even need to provide your credit history because CoinLoan uses your collateral assets as a guarantee of future payment. The more collateral you provide, the better terms you get.
It’s just like a bank account, except better. You can earn compound interest accrued daily just by storing your assets, and the interest rate you earn is much higher than what banks pay. You can make up to 12.3% yearly on stablecoins. CoinLoan has some of the highest interest rates on the market. The platform never locks your money so that you can withdraw it at any time with no fees or penalties.
CoinLoan Interest Account board on their website.
If you don’t have the desired cryptocurrency, there’s no need to worry. CoinLoan offers an advanced crypto trading option allowing you to swap more than 140 crypto pairs. Their tens of thousands of global clients prefer the exchange for its simplicity and convenience. You can buy, sell, or swap crypto instantly at reasonable exchange rates. You can even use your Visa or Mastercard to make fiat deposits so you can buy crypto quickly.
Purchasing crypto for fiat currency via CoinLoan Crypto Exchange.
CoinLoan has been working hard to provide quality services since 2017, and they have also come up with new ways to help make their users’ experience as straightforward and seamless as possible.
CoinLoan Token (CLT)
As if they don’t already have enough alternative financial services available for your convenience, they also have their own native ERC-20 token $CLT. You can easily take out or repay a loan in whatever currency you want, but using CLT benefits users significantly because it offers the best interest rates. Storing CLT adds 2% more to the annual interest rate, and paying loans in CLT lowers the borrowing fees by 50%
The CLT token adds another layer of convenience to the platform and offers users the opportunity to save on borrowing fees and earn more interest. You can trade the token on several major exchange platforms such as Bittrex, Uniswap, HitBTC, and Hotbit.
Affiliate Program
To attract new clients and reward current ones for their hard work in helping, CoinLoan is now offering an affiliate program with lifetime revenue. Here’s how it works: once you share a link with your friends, you earn from every transaction they make. For any loan or exchange transaction a referral makes, the affiliate receives 0.2% along with a 0.1% monthly bonus from their every Interest Account deposit.
You can earn lifelong bonuses with this program, and it’s super convenient because all you need is the link. CoinLoan converts the bonuses into USDC and pays them automatically into your wallet, so you don’t even have to worry about collecting them.
Finishing Remarks
CoinLoan offers everything you need to make your digital assets work for you in a safe and reliable way. You can earn and save on the platform multiple ways, all with the knowledge that your funds are secure.
In addition, CoinLoan also offers round-a-clock support services. The benefit of using a European-regulated exchange is that they provide some of the best services. Even if you do experience a problem with this platform, customer support is available 24/7, ready to help with any inquiries you might have.
Another great thing about CoinLoan is its mobile app, available both for iOS and Android devices. Thus, all services the platform provides are always at your fingertips.
In conclusion, CoinLoan is a reliable platform for traders, miners, investment funds, private investors, and crypto enthusiasts. With their proven track record and security features like easily completed KYC, secure hot wallet storage, and asset insurance, you can be sure your funds will remain safe. And it’s easy to join, all you need is to make an account and start your crypto journey.
