https://en.bitcoin.it/w/index.php?title=CoinLoan&feed=atom&action=historyCoinLoan - Revision history2024-03-28T11:08:40ZRevision history for this page on the wikiMediaWiki 1.30.0https://en.bitcoin.it/w/index.php?title=CoinLoan&diff=67110&oldid=prevCoinLoan: CoinLoan is a crypto-lending platform, where anyone can earn interest in idle assets, issue and get a loan backed by crypto-collateral.2019-12-17T11:37:29Z<p>CoinLoan is a crypto-lending platform, where anyone can earn interest in idle assets, issue and get a loan backed by crypto-collateral.</p>
<p><b>New page</b></p><div>CoinLoan is a crypto-lending platform, where anyone can issue and get a loan<br />
backed by crypto-collateral. The platform is a meeting point for borrowers who seek to leverage their crypto-assets without selling them and lenders who wish to earn competitive interest with minimal risks.<br />
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== Company ==<br />
CoinLoan company headquarters itself in Tallinn, Estonia, and for a good reason. Estonia is a European start-up and digitization paradise. This North-European country is one of the world's most crypto-friendly environments.<br />
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With the key members living in Tallinn, CoinLoan international team includes professionals from other countries in Northern and Central Europe.<br />
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CoinLoan has the status of a licensed financial institution <ref>[https://coinloan.io/licenses/, CoinLoan Licenses & Certificates],</ref> and serves customers worldwide. <br />
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== History ==<br />
In 2014, an event occurred that later became an incentive for the company's creation. Alex Faliushin was forced to sell his bitcoins for about $400. There was no way at that moment, to save crypto-assets as a long-term investment and get the money for urgent needs. At the beginning of 2017, BTC tripled its price. <br />
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Faliushin and his business partner, Max Sapelov, came up with the idea of using crypto as loan collateral. They evaluated the market and development potential; there was no competition yet.<br />
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In the first half of 2017, Faliushin, as CEO, and Sapelov, as CTO, started to build a team and develop the crypto-to-fiat lending platform called CoinLoan. SALT lending popped up, implementing a similar business model (with an opportunity to borrow only) concomitantly with CoinLoan.<br />
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In July 2018, the CoinLoan platform went life <ref>[https://finance.yahoo.com/news/coinloan-opens-platform-bridge-gap-190000636.html CoinLoan Opens Platform to Bridge Gap Between Lenders and Borrowers]</ref>. It was the bearish year for bitcoin and the whole crypto-market. It revealed a lack of services for crypto-enthusiasts trying to hold their assets. In response to a market request, many crypto-backed lending companies emerged.<br />
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CoinLoan continued to develop and improve the platform progressively:<br />
* '''December 2018''' — crypto-exchange service appeared.<ref>[https://blog.coinloan.io/coinloan-crypto-exchange-is-now-open/ CoinLoan Crypto Exchange Is Now Open]</ref> It CoinLoan users now able to convert crypto to fiat and vice versa directly on the platform.<br />
* '''March 2019''' — dynamic collateral monitoring system created.<ref>[https://blog.coinloan.io/coinloan-beats-volatility-and-increases-ltv-limit-to-70/ CoinLoan Beats Volatility and Increases LTV Limit to 70%]</ref> It allowed CoinLoan to lift the LTV limit to 70% and move a liquidation threshold beyond 90%.<br />
* '''May 2019''' — CoinLoan enabled Visa and MasterCard payments.<ref>[https://www.newswire.com/news/coinloan-crypto-to-fiat-lending-company-enables-credit-card-deposits-20900972 CoinLoan Crypto-to-Fiat Lending Company Enables Credit Card Deposits] </ref><br />
* '''June 2019''' — To supplement existing crypto-to-fiat loans, crypto-to-crypto lending options added.<ref>[https://blog.coinloan.io/coinloan-enters-the-crypto-to-crypto-lending-market/ CoinLoan Enters the Crypto-to-Crypto Lending Market]</ref><br />
* '''November 2019''' — interest account service added.<ref>[https://blog.coinloan.io/earn-8-on-your-stablecoins-with-coinloan-interest-account/ Earn 8% on Your Stablecoins With CoinLoan Interest Account]</ref> It worked as a bank deposit and enabled users to earn fixed revenue for depositing crypto and fiat funds.<br />
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== Main Functions ==<br />
==== Interest Account ====<br />
Offers a fixed rate on crypto and fiat assets for parking them on CoinLoan.<br />
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==== Lending Platform ====<br />
Allows users to find an appropriate loan offer/request or create a custom one with a desired interest rate, loan term, and amount.<br />
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==== Crypto Exchange ====<br />
Enables users to buy or sell crypto quickly.<br />
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==== Affiliate Program ====<br />
Rewards users for bringing newcomers to the platform.<br />
== Fees Schedule ==<br />
==== Borrowing ====<br />
The borrowing fee is 1% of the overall loan principal amount. The CoinLoan platform provides two options for paying borrowing fee:<br />
* In loan currency;<br />
* In CoinLoan tokens (CLT) – 50% discount.<br />
==== Lending ====<br />
Lending is free.<br />
==== Deposit ====<br />
Deposits in crypto and fiat are free.<br />
Deposits by Visa / MasterCard: 2 EUR + 4.2% (from deposit amount).<br />
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==== Withdrawal ====<br />
Withdrawals in cryptocurrency and euro are free. Withdrawal fees for other fiat currencies are fixed, as shown on [https://coinloan.io/fees/ the official site].<br />
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==== Liquidation ====<br />
The borrower is charged a liquidation fee in the amount of 5% of the liquidated loan collateral.<br />
== Assets Security ==<br />
CoinLoan focus on the development of their own security technologies. The company prefers to maintain cryptocurrency custody in-house rather than outsource security to a third party.<ref>[https://blog.coinloan.io/do-we-store-your-crypto-assets-securely/ Do We Store Your Crypto Assets Securely?]</ref><br />
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* All crypto-assets are stored in offline, cold, multi-signature wallets.<br />
* Transaction signing only happens offline on separate devices that have never been connected to the network, and this process involves several people.<br />
* The multi-signature process involves several keys (N) with a required quorum of any (M) keys. Thus, it’s not possible to sign the transaction using a single individual. Also, this system ensures that even losing one of the multi-signature keys, the user will never lose control over assets.<br />
* Encrypted parts of the keys are stored in a geographically-distributed manner in the banks’ safe deposit boxes to prevent potential loss of the keys due to natural disasters, including floods, earthquakes, fires, etc.<br />
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== External Links == <br />
CoinLoan [https://coinloan.io/ website]<br />
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== References ==</div>CoinLoan