Friday, September 24, 2021
Home News Coinloan Provides Money Secured On Cryptocurrency - Launching Token Sale

Coinloan Provides Money Secured On Cryptocurrency – Launching Token Sale

The CoinLoan project is a platform for providing cash loans secured on cryptoassets. After launching the project, cryptocurrency holders will be able to receive fiat currency without selling digital assets. For this, borrowers can deposit a cryptocollateral into the system (e.g., in Bitcoin, Ethereum or Litecoin). After this they will 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 cryptocollateral. 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 cryptocollateral 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 cryptocollateral of borrowers, so payback of their money with interest is guaranteed.

Borrowers holding cryptocurrency  will have the following advantages:

  • Cryptoassets are saved, borrowers do not 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 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 liquidating (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 can 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 USD, 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, they 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-finance, payment systems, blockchain technologies and cryptocurrencies.

ICO CoinLoan

The Pre-ICO of CoinLoan project begins on September 29, 2017. CoinLoan Tokens (CLT) will be distributed during Pre-ICO. They are used for paying the fees for lending or borrowing loans. During Pre-ICO tokens will be sold at a minimum fixed price: 1 CLT = 1 USD.

Those who have bought tokens on the stage of Pre-ICO and ICO will be able to borrow loans secured on CLT without any fee. Besides that, token holders will be able to reduce the interest rate of the loan compensating the part of the rate with help of CLT.

They plan to launch ICO in October in 14 days after the end of Pre-ICO. On this ICO stage, the value of 1 CLT will range from 2 to 8 USD depending on the amount of raised investments.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
- Advertisment -

Most Popular

Latest News