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Topic: 🔥[ANN][ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 (Read 9909 times)

copper member
Activity: 272
Merit: 8
I would like to warn and inform guys here to get out of the CoinLoan platform as soon as possible. They have started to limit daily withdrawals to 5 000 USD and the support agent was very arrogant and did not care at all that you may need to withdraw your funds. Big red flag and it doesn't look good. If they don't lift up the limitations (it started around 20 days ago and the change came from 500k to 5k) any day soon, it will probably end up as many already bankrupt companies. Unfortunate :/
newbie
Activity: 17
Merit: 0
I can  OTC sell 10k tokens for $ 20.
newbie
Activity: 17
Merit: 0
CLT token grows and has reached a new ATH.
jr. member
Activity: 87
Merit: 1
I can't belive, a project from 19/08/2017 until now.
It's too long time to list on CMC.
Btw, with lending platform, I don't think many people will like it.
sr. member
Activity: 1036
Merit: 252
Dolphins Finance TRUSTED FINANCE
member
Activity: 560
Merit: 10
CoinLoan announced that now with the withdrawal of funds, stablecoins and cryptocurrencies, a percentage of the commission on the platform will not be charged, and they also wrote about the reason for such measures on his blog https://blog.coinloan.io/coinloan-cuts-withdrawal-fees-to-zero/
full member
Activity: 196
Merit: 100
The CoinLoan project team has carried out a number of works to improve the platform and now it will be adaptive and accessible for mobile viewing.


Thank you!!
We hope our Customers will enjoy the platform! Now we have the best conditions on the market for the lender and borrowers! Try it
member
Activity: 616
Merit: 11
The CoinLoan project team has carried out a number of works to improve the platform and now it will be adaptive and accessible for mobile viewing.
member
Activity: 211
Merit: 18
Didn't SALT try this back in 2017 but ran into lots of legal issues? Is all your legalities sorted?

SALT is different, they only allow you to borrow and the rates are fixed, I contacted them in May 2019 to know if it was possible to lend, they fowarded my message to the "Business Development Team", they never replied.

CoinLoan seems legit:
https://coinloan.io/licenses

The support is quick and helpful.

BUT
Annual interest rate calculation for long-term loans is based on an annuity repayment method.


So for long term loans, it means that the borrower pays you back monthly so the monthly interests decrease every month, so if you lend 1000 EUR at 10% for 1 year, you will not get 100 EUR (10% of 1000 EUR), you will get 55 EUR.
I think this should be explained "more clearly" on their website, even if you can use the calculator on the main page.
Because when a borrower sees 10%, he might think he has to pay 10% of the amount, also for the lender, he might think he'll get 10%...
newbie
Activity: 17
Merit: 0
Didn't SALT try this back in 2017 but ran into lots of legal issues? Is all your legalities sorted?
newbie
Activity: 1
Merit: 0
I just signed up at your platform and placed a loan offer.
I have scouted the marketplace only to realize it has high implicit fees , for example right now I could buy 1 BTC for 10,700 $ while on coinmarketcap it quotes 10,400.
Even your own token CLT is offered for 18 cents on your platform while it quotes 14 cents on Coincodex.
full member
Activity: 196
Merit: 100
bitgo itself is a good and safe solution, in theory. But this is just a tool that can be properly configured and safely used (the right amount of approvers, tight transaction limits, white list of addresses, amount of funds on hot and cold wallets, etc.), but you can set up it very “poorly” and all the security of bitgo will be crashed and the hacker will be able to steal everything in a flash.


But among other things, even with the best bitgo security settings, there are various attack vectors, for example, to hack the base of the platform and replace all the deposit of the address with the control of the hacker. This case does not cover bitgo’s insurance.
full member
Activity: 196
Merit: 100
Is someone using CoinLoan?
I would like to lend some FIAT but I don't see any guarantee/insurance on their website, I contacted them and just got a basic answer:
"Our site is very safe and even if we will close down, we will return all your money to you with the interest."
But they don't tell HOW they can pay you back if the borrowers disappear and the crypto value falls, also they don't tell what will happen if a hacker take their assets, no guarantee at all.

Hello!

Thank you for your interest. We use our own secured solution. We found BitGo a bit complicated and way too unsecured.

Borrowers are putting collateral first, before they take a loan. So if something went wrong (volatility or missing payment from borrower) we cover all risks with borrowers collateral. We haven't been hacked since the platform started. We are thinking how to increase confidence at the moment, soon you'll see a big publication about security from ourside.
member
Activity: 211
Merit: 18
Is someone using CoinLoan?
I would like to lend some FIAT but I don't see any guarantee/insurance on their website, I contacted them and just got a basic answer:
"Our site is very safe and even if we will close down, we will return all your money to you with the interest."
But they don't tell HOW they can pay you back if the borrowers disappear and the crypto value falls, also they don't tell what will happen if a hacker take their assets, no guarantee at all.
full member
Activity: 196
Merit: 100
Hello,
CoinLoan is more than alive - we are growing! Wink


You may find our last updates on Medium. For example this one https://medium.com/coinloan/investing-becomes-fees-free-on-coinloan-f940149d6bbc


You are welcome to try our services!
legendary
Activity: 2002
Merit: 1113
hello

no update since december this project is still alive ?
full member
Activity: 490
Merit: 101
GUSD & USDC Stablecoins Are Now Available on CoinLoan
Learn how to benefit from them!

CoinLoan expands the list of currencies available on the platform with two major stablecoins — GUSD and USDC. They can be used to lend and borrow, which means that they are intended to become an alternative to fiat currencies.

https://medium.com/coinloan/gusd-usdc-stablecoins-are-now-available-on-coinloan-1aad813912cc

full member
Activity: 504
Merit: 102
The CoinLoan Monthly Update
New exchanges, some useful info, November roadshow and more!
https://medium.com/@coinloan/30-11-2018-the-coinloan-monthly-update-3f1ca8da464d

full member
Activity: 686
Merit: 100
★Bitvest.io★ Play Plinko or Invest!
The project looks really good. But I don't think that it is a good idea. The market is too unpredictable and the prices fluctuate too much, therefore it is not safe to have some random cryptoasset act as a collateral for the loan. Someone may simply disappear with that fiat money and the other person would be left with some random coin that because of market changes become worthless.


you say the truth...
now the cryptoprojects work rather unstable, because, the cryptomarket is also very unstable.
nobody gives us any guarantee of anything.
a lot of people, project participants, traders, investors are in it.
and they can not be blamed for it.
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