CoinLoan Review 2021 – Is CoinLoan Legit To Use?

CoinLoan is one of the most famous platforms for cryptocurrency lending, but its functionality is much wider. For this review, we have looked at the platform’s current features, conditions, and competitive strengths in 2021. Is this the best place for cryptocurrency-backed loans?

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CoinLoan Overview

CoinLoan is a CeFi platform that pioneered crypto lending in 2017. This Tallinn-based provider has had zero incidents since its launch. The AA rating and the Strongest in Estonia certificate from the Creditinfo Eesti AS confirmed its contribution to honest business practices.

CoinLoan has a unique mission. It facilitates all three avenues of crypto use – investing, borrowing, and trading. Investors enjoy high APY, along with the absence of transfer fees or asset locking. The interest rates for loans and the exchange rates for trading are also highly competitive. CoinLoan works with fiat, crypto, and stablecoins, including Monero.

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Who Is CoinLoan Best For?

Borrowers are attracted by competitive interest rates, while traders profit by buying, selling, or swapping crypto assets. CoinLoan is particularly attractive to EU citizens seeking a platform supervised by a local financial agency. It welcomes beginners and experts.

The investment account resembles a savings account in the bank, while borrowing is similar to getting a secured bank loan. The environment is intuitively understandable for all users, including neophytes. After making a deposit, you start gaining interest immediately. By taking advantage of the platform’s proprietary token, you may earn over 12% APY.

How The Platform Works

The platform offers three types of services – loans, investment, and trading. Users get fiat loans instantly thanks to the absence of credit score checks. Provided that you have completed the KYC check and transferred the collateral to the wallet, you are a few clicks or taps away from the loan.

This is not a P2P system – the platform lends to its users using the funds deposited by its investors. The repayment period ranges between seven days and three years, while the interest rate may be as low as 4.95%.

Once the final installment is made, the borrower gets their crypto collateral back. If the coins have gained value, they reap profit. If they fail to pay the debt, it is covered with a portion of their pledged assets based on the market value, and they get the rest.

At the same time, CoinLoan offers attractive APY to investors. They manage their finances using the same convenient interface. Instead of keeping crypto coins in a wallet, they deposit them and earn up to 12.3% interest. The highest rates require using the company’s proprietary token (CLT) – 5,000 tokens add 2% to every base rate.

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Step-By-Step Guide To Setting Up Your Account & Navigating The Platform

CoinLoan accepts users who are at least 18 years old and have an ID to prove their identity. Registration is quick and simple, and you can make a deposit once the verification is complete. Both lenders and borrowers use the same interface, and they have to follow the same procedures to get started.

  1. Go to the homepage and click on the Sign-Up button.
  2. Enter your email address and create a password.
  3. Check your mailbox for the verification code and enter it on the platform.
  4. Access Verification from My Account in the upper right corner.
  5. Fill in the required details (full name, date of birth, place of birth, etc.).
  6. Upload a selfie (a photo of yourself holding the ID).

CoinLoan is a trusted platform compliant with KYC and AML. It protects the users from financial fraud and money laundering. It is important to understand that while decentralized exchanges may be attractive due to the absence of KYC, they fail to provide the same degree of protection.

Navigation is simple. The side menu on the left condenses all the key features for borrowers and investors: Interest Account, Instant Loan, Lending Market, My Loans, My Wallet, and Crypto Exchange. You may contact support, read the full terms and conditions, learn about GDPR compliance and AML policy, or visit FAQ from the same page.

For borrowers, the first step is transferring their collateral to the platform. The Instant Loan section lets you specify the desired term, size of collateral, LTV, and amount. You will immediately see the interest rate depending on the asset and your settings.

Specify your preferences and click on the Get Loan Now button to get the loan immediately. Go to My Wallet to withdraw the money. The same section lets you withdraw your collateral once the loan is paid in full.

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Funding Methods

To cater to as many users as possible, the platform has a   payment system for both crypto coins and fiat currencies. The available methods depend on the assets transferred. Users can deposit and withdraw funds using the website or Coinloan’s mobile apps.

There are plenty of options if you want to fund your account using Euros, US dollars, British pounds, or Russian rubles. For euros, they are particularly varied: SEPA, SWIFT, AdvCash, and TransferWise. Check the company’s website for details. The Help Center includes a useful flow chart that helps users navigate diversity.

Crypto Loans & Borrowing

These services allow crypto enthusiasts to get cash for any finance needs using their coins as collateral. As they retain ownership of the assets and get them back once the loan is repaid, they may also profit from the rise in their value.

Crypto owners who do not want to sell their coins but have any urgent needs get loans instantly and securely. They work like secured installment loans from banks. On CoinLoan, the conditions are particularly attractive.

The LTV ratio (loan to value) reaches 70%, as opposed to just 50% on other platforms like BlockFi. This means you can gain more value from your collateral – borrow up to 70% of its value. Meanwhile, the interest rates start from just 4.95%.

The term of the loan is also flexible, as it varies from seven days to three years. Users can pay their debt with different assets and cut costs by repaying early without penalties. In this case, CoinLoan does not charge them for the rest of the period. It allows them to determine they are LTV, add or withdraw collateral at any time.

If the borrower cannot make the agreed payments, a portion of their collateral covers the debt depending on the current market price. The rest of the assets are returned to the owner. The margin call trigger is only 90% LTV, which protects the borrowers against dramatic market fluctuations.

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CoinLoan Crypto Exchange

The CoinLoan functionality is not limited to loans and interest accounts. Users may also buy, sell, and swap cryptocurrencies in a quick and hassle-free way. As of this writing, the complete list of accepted assets includes:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Monero (XMR)
  • XRP (XRP)
  • Stellar Lumens (XLM)
  • Chainlink (LINK)
  • TrueUSD (TUSD)
  • USD Coin (USDC)
  • Paxos Standard (PAX)
  • Tether (USDT)
  • Dai (DAI)
  • Binance USD (BUSD)
  • Wrapped BTC (WBTC)
  • Euro (EUR)
  • Ruble (RUB)
  • Polkadot (DOT)
  • Uniswap (UNI)

Traders are always seeking the best exchange conditions, and CoinLoan does not fail to impress them. It offers some of the most competitive rates, as well as free deposits and withdrawals. Deposits are accepted via a wide range of methods, including SEPA and SWIFT

Usability Of CoinLoan

Despite its versatility, CoinLoan is easy to navigate. Access and navigation from desktops and devices are beyond reproach (Android and iOS apps are available). All the key functions are found in one place, so users can deposit and borrow money via the same menu. For example, after clicking on Instant Loan, you can adjust the settings for the loan – the size of collateral, the amount borrowed, LTV, the repayment period, etc.

Generally, CoinLoan suits the needs of the subgroups it targets – investors focused on high yield, borrowers looking for accessible loans that let them keep their crypto assets, and traders that benefit from short-term changes in the market. Compliance with European legislation and the centralized operation model make this environment attractive for all security-conscious users and institutional investors.

CoinLoan Review: Customer Support

Both industry experts and its users praise the quality of customer support on CoinLoan. The team quickly responds to queries via live chat, and it is always reachable by email. The company has a massive Telegram community. It is also active on social media (Facebook, Instagram, and Twitter.)

CoinLoan Review: Security

Security is a top concern for crypto enthusiasts. CoinLoan is not only the pioneer in its field – it is a regulated and licensed provider with physical offices in Estonia and a flawless track record since its launch. Fair practices have enabled CoinLoan to renew its license in 2020, while 500 crypto companies in Estonia had their licenses revoked.

In 2021, the company received the Strongest in Estonia certificate and AA rating from Creditinfo Eesti AS, the international institution administering the Estonian Credit Register. The rating confirms that the company is an important contributor to the economy and honest business climate in Estonia.

The users need not worry about the protection of their funds. Both fiat deposits and crypto coins are stored in safe locations. Digital assets are held by BitGo. Recently, the qualified custodian has released a study confirming the safety and dependability of the solutions developed in cooperation with CoinLoan.

In addition, Lloyd’s Syndicate provides insurance worth $100 million. All fiat assets are held at InCore Bank, which is based in Switzerland. Finally, the provider has a bug bounty program that rewards researchers that find and fix vulnerabilities.

What Is The Primary Appeal Of CoinLoan?

CoinLoan is attractive to different categories of users. It allows them to make a passive income on their coins in different ways or use them as collateral for instant loans with flexible conditions. It is a fully regulated space compliant with EU legislation. Stringent security measures, ease of use, attractive rates, support of fiat transfers, and global operations are only some of its advantages.

CoinLoan members make the most of their digital assets. Instead of keeping them in wallets, they make them work – earn interest or serve as collateral. They get instant access to cash without the need to sell the coins or relinquish ownership.

At the same time, CoinLoan ensures security and high APY for investors, and attractive exchange rates for traders. It is a vibrant and multifunctional environment focused on perpetual improvement.


CoinLoan is a multifaceted centralized platform for crypto borrowing, investment, and trading. Its methodology is quite close to the legacy financial system in the EU. This provider is a pioneer, as it started providing crypto loans in 2017 before the DeFi era. The notion of depositing assets for profit is something everyone can understand.

The platform is backed by venture capital, and it has its token – CLT. It is a reliable savings vehicle for investors with attractive APYs, an attractive lender for users who want to use crypto as collateral, and an efficient trade facilitator. CoinLoan is inviting to beginners and pros, as it ensures security, convenience, and speed of transactions.

Frequently Asked Questions

Who Owns The Platform?

CoinLoan OÜ (former ExFinance OÜ) has its headquarters in Tallinn. This organization has a European Financial License.

What Are CoinLoan’s Fees?

CoinLoan offers highly competitive rates in comparison with other platforms. Moreover, it is the only platform where both withdrawals and deposits are free. Members do not pay for collecting their fiat or crypto assets. Fiat deposits come with zero fees,  while the origination fee for a loan equals 1% of the principal.

Does CoinLoan Perform Any Credit History Checks For Loan Approval?

In the realm of secured crypto loans, credit checks are irrelevant. This is true for both CeFi and DeFi platforms. CoinLoan gives users confidence, as their counterparts complete KYC verification, and collateral also protects their interests. In the event of a default, it is used to repay the debt.

How Fast Can You Withdraw Your Money?

Withdrawals are instant. As long as your internet connection is in order, all transfers are effortless.

What Is A CoinLoan Token?

The platform offers its Ethereum-based native token. It allows investors to secure better interest rates. If they stake CLT coins for any period of time, they may add up to 2% to the base rate. Every 250 tokens give you +0.1%, so the maximum boost is achieved by staking 5,000 of them.

If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.

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