Topic: 🔥[ANN][ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 - page 15. (Read 9914 times)

Are there limitations upon minimal and maximal credit amount in CoinLoan?

This is a good question. We have described this in our white paper too. Please, check section "4.3 Mechanism of Handling Risks".

If the value of the pledged asset falls back because of the quotation fluctuations on the market, will it have any effect upon the transaction between borrower and creditor?

It's not possible. The borrower has different ways what to do in such situations. You can read more in our White Paper.



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 cryptoexchanges.
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.

Hi! The borrower can borrow a loan in the amount from 10% till 70% of the current market value (LTV).

Hi
Is this coin the same SALT?

You can read more about this in our White Paper starting from page # 12: https://coinloan.io/whitepaper

If the borrower has troubles, can he contact directly creditor inside service CoinLoan and agree upon debt restructuring?

Hello. Will the borrower have to deposit the cryptocurrency the value of which is equal to amount of the loan in order to obtain that very loan in the form of fiat funds?

If the value of the loan drops below the collateral rate (you say 70% I think), what happens then? The borrower has an incentive to not pay back. How are you going to take that into account?

CoinLoan Token (CLT) - an ERC-20 compatible token, built on Ethereum blockchain. The main task of the CLT token is to pay fees for providing or borrowing a loan. 1 CLT allows paying the platform fee for borrowing a loan up to $10000. In addition, it will be possible to reduce the interest rate on obtaining a loan by offsetting the part of the rate with a CLT token.

Upon what benefits inside the service will it be possible to spend tokens of your project?

We are going to cover all the world.

Any individual or legal entity can act as a lender on the CoinLoan platform. No licenses required for this.

Good afternoon. Who can become a creditor in CoinLoan? If I am a legal body, will I be able to provide loans in your service? Will execution of the supplementary contracts be necessary for that after registration?

Will CoinLoan have any territorial limitations on business? In which countries do you plan bring the service into operation in the first place?

Anyway, the borrower needs to repay the same amount as he/she borrowed + lenders interest rate.

The customers in CoinLoan will borrow upon the security of their cryptoassets. So, in case the mortgaged cryptocurrency value increases, won't the debt amount change or not?

After the launch of the platform, we are going to support several major cryptocurrencies as collateral: Bitcoin, Ethereum, Litecoin, Dash, Ripple, Monero, ZCash. Yes, we plan to expand this list in the future.

We don't need any solvency proofs from the borrower, because every loan is secured by pledged crypto-assets (cryptocurrency).

https://medium.com/@coinloan/coinloan-no-risks-for-the-lender-955c6da0dcc8