Cryptocurrency loan platform with the best interest and low risk
CoinLoan is a cryptocurrency lending platform for lending or borrowing crypto-assets (cryptocurrency, tokens) developed to meet the demand that cannot be satisfied by the traditional credit system, or other platforms with complicated rules and high fees. CoinLoan claims that it provides borrowers with the most favorable conditions, while lenders will get the full repayment of their funds and the absence of risks. Any user on the platform can act as a lender or a borrower without any additional steps.
According to Crunchbase, CoinLoan is a crypto lending platform where anyone can issue and get a loan backed by crypto assets. The platform provides a meeting point for borrowers who seek to leverage their crypto-assets without selling them and lenders who wanted to grow their assets with relatively low risk. CoinLoan has raised a total of $3.1M in more than 3 funding rounds, with the last one raised on Aug 1, 2019. At the time of writing, Mike Shokin is the advisor of the project.
According to its website, CoinLoan offers various features and advantages. Users can earn or borrow with zero deposit and withdrawal fees. All of the funds deposited on the platform will be protected by a certified custodian and covered by insurance. By doing this, even if some bad things happened, users of the platform can still get their funds back. In addition to that, CoinLoan also claims that users’ assets will never get frozen, which means it is quite flexible compared to other platforms. Users can take advantage of such features by withdrawing and depositing quickly in case they need the money asap.