With the launch of CoinLoan, mutually profitable lending is now available on the blockchain. Now anybody can borrow loans at the lowest interest rates or offer loans with real model safety that is backed by cryptoassets.
About CoinLoan project.
CoinLoan is an innovative platform in the lending sphere offering the lowest interest rates on the market. It’s a project which has united lenders and borrowers through one platform which uses cryptoassets as collateral. CoinLoan is in the process of becoming licensed in Europe as a payment institution.
How does it work?
A lender deposits fiat funds into the system by any convenient means and creates lending applications managing the transaction conditions individually. Specifically, full preservation of capital is guaranteed for lenders because all loans in the CoinLoan system are secured by the cryptoassets of borrowers.
Top 3 Advantages:
- Efficiency: a lender can personally manage creation and control applicants or appoint this task to an automated system;
- Safe conduct: if the borrower can't repay the loan by the end of the specified term, his/her cryptoasset will be automatically sold by the system and his/her debt will be fully repaid;
- Convenience: no need to check counterparties because safety is provided through the cryptoassets.
After making a cryptocurrency deposit the user can borrow up to 70% of the cryptoasset market value. Deals are made immediately and fiat funds can be withdrawn by any convenient means: wire transfer, withdrawal on a card, etc. After repaying the indebtedness the borrower regains access to their cryptoasset in full.
Top 3 Advantages:
- Easy to use: if the user needs money, they no longer have to sell their cryptoasset capital; instead they can borrow against their cryptoassets resulting in a profitable loan whilst keeping their savings;
- No restrictions: the borrower does not have to provide any documents or certificates confirming their solvency and the lending limit depends only on the amount of their cryptoasset;
- Profit: low interest rates, absence of deposit/withdrawal fees, immediate deal-making.
Implementation of blockchain-technologies
For protection and financial soundness of the platform one part of the cryptoassets is stored in cold wallets and the second on protected multi-sig wallets with distributed key storage.
CLT tokens can be used either for paying fees within the system or as a collateral alongside with cryptocurrency. This means that for investors the token value will increase during CoinLoan's system scaling.
CoinLoan. Very profitable for early adopters.
CoinLoan is profitable not only for lenders and borrowers, but for investors also. On September 25, 2017, the platform will participate in a Pre-Sale. The price of CLT-tokens will be SEVERAL TIMES lower than during the ICO. Immediately after launching the project 1 CLT will be equal to 10 USD.
Right now you may address the CoinLoan project team directly with your questions. You can also learn more about features at the official website coinloan.io
Press release distributed by Pressat on behalf of CoinLoan, on Tuesday 19 September, 2017. For more information subscribe and follow http://www.pressat.co.uk/