What is the minimum purchase amount of tokens?
Minimal tokens purchase amount is 100 CLT (~0.025 BTC or 0.3 ETH). |
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Hi!
How users will pay a token commission platform?
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. |
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Do you have statistics on collected funds?
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. |
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Does the borrower pay once a month or at the end of loan period? Is it possible to choose one of the variants?
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. |
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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?
Hi! The borrower can borrow a loan in the amount from 10% till 70% of the current market value (LTV). 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. The borrower can choose the LTV himself/herself. S/he can select 70%, s/he does not have to select 10% LTV. |
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Will the borrower have an opportunity of prepaying? Will he be obliged to pay the interest rate calculated for the whole period?
Yes, long-term loan repayment is available at any time. |
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Will there be working in CoinLoan the rating under which the users will be able to know about the status of creditor or borrower?
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. |
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On which exchanges will trade a token? When will this happen?
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. |
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What maximal interest rate can a creditor make on his loan? Are there any limitations?
The platform will not provide a pre-set interest rate. It will be fully market-dependent. The lender will set the interest rate in his/her loan application and the borrower will state the desired interest rate for getting a loan. The system will automatically bring the matching applications together. There is no any limits for now. |
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Hello. Are only cryptocurrencies seen as a pledge? Arent there variants with tokens of other companies, for instance?
Yes, we are going to support several ERC-20 tokens with high liquidity as collateral in the near future. |
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In what regions does the CoinLoan deliver plastic cards to clients? Is there an option of customer pick-up?
We are going to deliver plastic debit cards to all countries of the world. |
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Can a borrower ask creditor to prolong the term to maturity if facing some unexpected circumstances?
No. It's not possible. The borrower can interact only with the CoinLoan platform. He can't message or get contact details of the lender. |
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Hello. What cryptocurrencies can be left as security when taking a loan from CoinLoan?
Hi! After the platform launch, we are going to support Bitcoin, Litecoin, Ethereum, Ripple, Dash, Monero, ZCash as collateral. This list will be expanded in the near future. |
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In what cryptocurrency I can buy CoinLoan tokens?
You can purchase tokens using Bitcoin or Ethereum. If you have other cryptocurrencies, then you can use integrated ShapeShift.io exchange service. The conversion rate will be fixed at the moment of sending the transaction. When the transaction is confirmed by the network, the tokens will be credited to your account balance at the previously fixed rate. |
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What countries do you target your business first and foremost?
We are going to target Europe first and expand to the whole world. |
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What are the stages of the development of this project? How will everything develop in staged manner, and what will it depend on? It is interesting to consider the project in prospect and see its course of development including the long-term perspective?
You are welcome to check out our Road Map. |
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What is the time period for a borrover between getting registered and obtaining a cryptocurrency loan?
The borrower can get only fiat loan, secured by cryptocurrency. This process is fully automated and can be done in few minutes. |
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What is the initial price of tokens and how is it planned to be changing in the process? Is it possible to buy them with a view to their substantial price icrease in the future? Where can one view the real growth dynamics of prices?
Current Pre-ICO price is $1 for 1 CLT. The price will start from $2 at the main ICO and will be increased by 50% every week or after the lot of 5 million tokens is sold. |
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Do you have a bounty program?
We have only a referral program. You can find your referral link in your account ( https://tokensale.coinloan.io). You will receive 5% from all token purchased by all people who have registered following the link. |
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Are there any analogical projects or is it the only project of its kind in the world?
Our project is unique. There may be one potential competitor, but we have a lot of differences and advantages. |
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