Topic: 🔥[ANN][ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 - page 12. (Read 9943 times)

What country is legally registered your company?

The borrower pays interest on the loan with your coin or currency of the loan ?

We are sure that our platform will work perfectly without this feature.

It will always be? Or do you plan the establishment of communication between the borrower and the lender?

We often receive this question. Here are the main differences:
1. CoinLoan project will be launched in Europe and licensed as a payment institution. This allows working legally and providing services all over the world, excluding those countries where a local license is needed. We will try to obtain a license in other countries (including those in Asia) depending on the amount of the raised funds.
2. Any individual or legal entity can act as a lender and provide loans or as a borrower and receive loans. No licenses are required for this.
3. The minimal amount of the loan on the platform is $50 (also expressed in other currencies). This allows providing microloans. The maximum amount is not limited.
4. All applications for providing and borrowing loans will be processed automatically and immediately.
5. CoinLoan Tokens (CLT) will be used for paying the fees on the platform for receiving and borrowing loans. They form an integral part of the system which provides the high demand for them at the market. 
6. The borrowers will be able to evaluate the risks related to the cryptoasset volatility and set the LTV (Loan-to-value ratio) at their sole discretion (from 10 to 70%).
7. Loans can be provided or borrowed in many fiat currencies (USD, EUR, GBP, CNY, JPY, RUB, CHF). This list will be extended as the platform is developed.
8. Various cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple, Dash, Monero, ZCash) can be used as a collateral. This list will also be extended. We'll try to cover all popular cryptocurrencies with a high capitalization rate.
9. We will focus on convenient and fast methods of depositing/withdrawing fiat funds on the platform with a minimal fee. E.g., instant withdrawal on any bank card, local bank payments, conventional international SWIFT-transfers, etc.
10. We don't prohibit placing our tokens at the exchange, in fact, when ICO ends we'll try list the tokens on the largest crypto-exchanges.
11. Also, we'll try to provide the most profitable fees and lending conditions on the market.
12. Borrowers will have more discretion in different market conditions which affect the value of the cryptocollateral.

Minimal tokens purchase amount is 100 CLT (~0.025 BTC or 0.3 ETH).

Hi! Is this project copying the best known Ethlend project? What's the diffence between them? Thank you

Hi! From the borrowers' side, 1 CLT allows paying the platform fee for borrowing a loan up to $10,000 for one month.

The lenders on CoinLoan will have to pay a fee in the amount of 10% from the credited funds (i.e., interest). For example, a lender provided a loan in the amount of $10000 and earned interest in the amount of $1000. The 10% fee will be charged from these very $1000 and will comprise $100 (a rather reasonable fee for full funds security). But the lender can pay 10 CLT instead of $100 calculated as 1 CLT = $10. So for the lenders, it will be more profitable to pay the fee in tokens. For Pre-ICO participants who have purchased tokens for $1 the fee will be ten times lower.

What is the minimum purchase amount of tokens?

Hi!
How users will pay a token commission platform?

Now we are carrying out a private Pre-Sale so that everyone will be able to purchase tokens at minimal price and prepare for ICO. The public statistics on the raised funds will be available later.

Do you have statistics on collected funds?

It depends on the loan term. If this is a long-term loan, then monthly payments required. If this is a short-term loan (up to 2 months), then one-time payment possible.

Does the borrower pay once a month or at the end of loan period? Is it possible to choose one of the variants?

The borrower can choose the LTV himself/herself. S/he can select 70%, s/he does not have to select 10% LTV.

Yes, long-term loan repayment is available at any time.

There is no need to do this. All loans are secured on cryptoassets of the borrowers, so no ratings or credit history checks are needed.

Currently we are performing the pre-sale and can't name the precise date and exchange names. This information will be available after ICO. We'll try to list our token on several largest crypto-exchanges as soon as possible.

It seems unrealistic though that someone would consider borrowing at 10% of the actual market value. But who knows, maybe there is a market even for that spectrum.

Will the borrower have an opportunity of prepaying? Will he be obliged to pay the interest rate calculated for the whole period?