CoinLoan project is a platform for providing cash loans secured on crypto-assets. After launching the project, cryptocurrency holders will be able to receive fiat funds without selling digital assets. For this the borrower shall deposit a crypto-collateral into the system (e.g., in Bitcoin, Ethereum or Litecoin). After this s/he will be receive funds in USD, EUR, GBP or other popular fiat currencies. The loan amount can comprise up to 70 % of the current value of the crypto-collateral. The borrower can use the funds at CoinLoan, receive money via wire transfer or withdraw them on a bank card. After repaying the loan, the crypto-collateral will be immediately returned in full. Holders of fiat currencies invest into the platform and can provide cash loans. Their funds are secured on the crypto-collateral of borrowers so payback of their money with interest is guaranteed.
CoinLoan ICO is Going On
CoinLoan Pre-ICO has begun already and takes place on the platform website. It shall be finished on October 29, 2017. CoinLoan Tokens (CLT) will be distributed during Pre-ICO at the minimal fixed price 1 CLT = $1. The tokens are used for paying the fee for lending or borrowing loans. Those who have purchased the tokens on ICO will be able to borrow loans without paying a fee. Besides that, token holders will be able to reduce the interest rate for the loan compensating the rate partially using CLT. ICO will be launched in 14 days after the end of Pre-ICO. At this stage of ICO the price for 1 CLT will vary from $2 to $8, depending on the amount of funds raised.
Borrowers, cryptocurrency holders will have the following advantages:
- Crypto-assets are saved, borrowers don’t have to sell them if they need fiat funds.
- Fast withdrawal of funds via wire transfer or to a bank card.
- The platform allows issuing virtual cards supporting Apple Pay or Samsung Pay and a plastic (debit) card delivered by post.
- No solvency and other checks before borrowing a loan.
- Risk assessment and choosing the lending conditions allow receiving money on the best terms.
- Loans are provided automatically in case of offsetting applications.
- Refinancing liabilities allows extending the loan term.
- The loan can be repaid at any time by liquidatingm (selling) a part of the collateral at the current market value.
- Loans can be borrowed in any currency available on the platform.
- Bitcoin, Ethereum, Litecoin, Ripple, Dash, Monero can be used as a collateral.
Lenders holding fiat currencies will have the following advantages.
- Automatic creation of applications based on market analysis and lending conditions.
- Lenders cans set the lending conditions themselves.
- Guaranteed repayment of loans (including the interest) without delays.
- Lenders from all over the world erase lending barriers.
- The minimal loan amount - $50, the maximum amount and number of active loans are limited only by your budget.
- A loan can be provided in any available currency.
- Any individual or legal entity may provide fiat funds for loans.
- Legality and secure infrastructure provide safety of funds.
”Road map” of CoinLoan project
CoinLoan project has been established in 2016. Currently we continue to develop the system which shall be finalized in the second quarter of 2018 and the platform will be launched officially. After that iOS and Android mobile apps will be developed and API for connecting external information systems of financial institutions will be created. CoinLoan has a team of experts who specialize in developing high-load, scaled solutions in the sphere of e-finances, payment systems, blockchain technologies and cryptocurrencies.
You can find more information about CoinLoan on the website and in the project White Paper. Need advice or you wish to ask a question about taking part in the crowdsale? Please contact us via Email info@coinloan.io or in the live chat in your account of the ICO participant.