CoinLoan -Loan Secured By Cryptoassets
CoinLoan (CLT) is an innovative project that combines modern cryptocurrency technology and traditional lending banking system. Coinloan is a lending platform that let borrowers borrow money using their crypto assets as security. The aim of the platform, if they solve crucial issues in the lending industry. It plans to solve problems for both lenders and borrowers. The platform wants to give crypto asset holders a way to transform digital assets into fiat currency while also giving fiat currency holders a method of generating ROI on the funds.
CoinLoan Video Explanation
CoinLoan features for lender
Multiple currencies: coin loan offers borrowers currencies in any available currency on the platform.
No limits: the platform has no limit to how much you can borrow. The minimum loan is $50. The number of active loans depends on your budget.
No risk: perhaps the most important feature on the platform. CoinLoan promises investors to always get payments of funds for providing loans, including interest with no delay.
Flexible setting of conditions and loan terms: Lenders can specify the terms and conditions for giving loans. The conditions give greater flexibility over how money is used.
Automatic funds management: The lender can formulate the terms and conditions on the loans; then the system automatically estimates the market environment. After the loan is fully repaid, the system will continue to create orders.
No obstacles: Legal entities and individuals have the opportunity to become lenders without needing any license.
Safety and reliability: Protected infrastructure and full legal status are combined to provide users with total security over their funds.
Fully automated: All operations on the platform are fully automated and can be accessed immediately if offsetting orders are available.
Individual loan management: Borrowers can close loans at any given time by selling a part of the loan at the market price.
Preserving crypto assets: CoinLoan allows borrowers to protect their crypto assets and sells them whenever they need fiat money.
No credit checks: CoinLoan does not look at your credit history to prove your payment capacity.
Refining of obligations: Users have the opportunity to refinance obligations which means they can prolong the loan term.
Variety of fiat currencies: Borrowers can obtain loans in any available currency on the platform. The currency includes BTC, ETH among others.
Coinloan team and ICO
Key members of the Coinloan team include founder and CEO Alex Faliushin and Max Sapelov who is the CLT and the co-founder. Coinloan distributes the Coinloan token through its ICO. The CLT token is used to pay fees for getting or giving a loan.