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Remember that Bitcoin is still beta software. Don't put all of your money into BTC!
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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galaxiekyl
Legendary
 Offline
Activity: 2002
Merit: 1113
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March 28, 2019, 01:37:59 PM |
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hello
no update since december this project is still alive ?
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jbdee
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May 07, 2019, 09:32:47 AM |
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Is someone using CoinLoan?
I would like to lend some FIAT but I don't see any guarantee/insurance on their website, I contacted them and just got a basic answer:
"Our site is very safe and even if we will close down, we will return all your money to you with the interest."
But they don't tell HOW they can pay you back if the borrowers disappear and the crypto value falls, also they don't tell what will happen if a hacker take their assets, no guarantee at all.
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coinloan (OP)
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May 07, 2019, 11:10:10 AM |
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Is someone using CoinLoan?
I would like to lend some FIAT but I don't see any guarantee/insurance on their website, I contacted them and just got a basic answer:
"Our site is very safe and even if we will close down, we will return all your money to you with the interest."
But they don't tell HOW they can pay you back if the borrowers disappear and the crypto value falls, also they don't tell what will happen if a hacker take their assets, no guarantee at all.
Hello! Thank you for your interest. We use our own secured solution. We found BitGo a bit complicated and way too unsecured. Borrowers are putting collateral first, before they take a loan. So if something went wrong (volatility or missing payment from borrower) we cover all risks with borrowers collateral. We haven't been hacked since the platform started. We are thinking how to increase confidence at the moment, soon you'll see a big publication about security from ourside. |
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coinloan (OP)
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May 07, 2019, 01:07:25 PM |
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bitgo itself is a good and safe solution, in theory. But this is just a tool that can be properly configured and safely used (the right amount of approvers, tight transaction limits, white list of addresses, amount of funds on hot and cold wallets, etc.), but you can set up it very “poorly” and all the security of bitgo will be crashed and the hacker will be able to steal everything in a flash.
But among other things, even with the best bitgo security settings, there are various attack vectors, for example, to hack the base of the platform and replace all the deposit of the address with the control of the hacker. This case does not cover bitgo’s insurance.
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Gaudente
Newbie
Offline
Activity: 1
Merit: 0
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August 17, 2019, 09:40:09 AM |
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I just signed up at your platform and placed a loan offer.
I have scouted the marketplace only to realize it has high implicit fees , for example right now I could buy 1 BTC for 10,700 $ while on coinmarketcap it quotes 10,400.
Even your own token CLT is offered for 18 cents on your platform while it quotes 14 cents on Coincodex.
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BitOverLord
Newbie
Offline
Activity: 17
Merit: 0
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August 17, 2019, 10:19:29 AM |
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Didn't SALT try this back in 2017 but ran into lots of legal issues? Is all your legalities sorted?
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jbdee
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August 18, 2019, 09:01:56 AM |
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Didn't SALT try this back in 2017 but ran into lots of legal issues? Is all your legalities sorted?
SALT is different, they only allow you to borrow and the rates are fixed, I contacted them in May 2019 to know if it was possible to lend, they fowarded my message to the "Business Development Team", they never replied. CoinLoan seems legit: https://coinloan.io/licensesThe support is quick and helpful. BUTAnnual interest rate calculation for long-term loans is based on an annuity repayment method.
So for long term loans, it means that the borrower pays you back monthly so the monthly interests decrease every month, so if you lend 1000 EUR at 10% for 1 year, you will not get 100 EUR (10% of 1000 EUR), you will get 55 EUR. I think this should be explained "more clearly" on their website, even if you can use the calculator on the main page. Because when a borrower sees 10%, he might think he has to pay 10% of the amount, also for the lender, he might think he'll get 10%... |
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Makleyhill
Member
Offline
Activity: 616
Merit: 11
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September 27, 2019, 11:21:19 AM |
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The CoinLoan project team has carried out a number of works to improve the platform and now it will be adaptive and accessible for mobile viewing.
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coinloan (OP)
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September 30, 2019, 12:55:10 PM |
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The CoinLoan project team has carried out a number of works to improve the platform and now it will be adaptive and accessible for mobile viewing.
Thank you!! We hope our Customers will enjoy the platform! Now we have the best conditions on the market for the lender and borrowers! Try it |
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Kriptobt1
Member
Offline
Activity: 560
Merit: 10
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November 19, 2019, 12:59:37 PM |
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CoinLoan announced that now with the withdrawal of funds, stablecoins and cryptocurrencies, a percentage of the commission on the platform will not be charged, and they also wrote about the reason for such measures on his blog https://blog.coinloan.io/coinloan-cuts-withdrawal-fees-to-zero/ |
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coinporch
Sr. Member
Offline
Activity: 1036
Merit: 252
Dolphins Finance TRUSTED FINANCE
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August 01, 2020, 10:47:06 PM |
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OpeningVN
Jr. Member
Offline
Activity: 87
Merit: 1
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August 02, 2020, 12:35:20 AM |
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I can't belive, a project from 19/08/2017 until now.
It's too long time to list on CMC.
Btw, with lending platform, I don't think many people will like it.
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v1t0z
Jr. Member
Offline
Activity: 56
Merit: 1
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December 13, 2020, 08:45:19 AM |
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paylex
Newbie
Offline
Activity: 17
Merit: 0
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February 21, 2021, 10:59:43 PM |
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CLT token grows and has reached a new ATH.
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paylex
Newbie
Offline
Activity: 17
Merit: 0
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May 09, 2021, 10:39:12 PM |
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I can OTC sell 10k tokens for $ 20.
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K-Paxian
Copper Member
Jr. Member
Offline
Activity: 272
Merit: 8
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July 22, 2022, 10:37:24 PM |
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I would like to warn and inform guys here to get out of the CoinLoan platform as soon as possible. They have started to limit daily withdrawals to 5 000 USD and the support agent was very arrogant and did not care at all that you may need to withdraw your funds. Big red flag and it doesn't look good. If they don't lift up the limitations (it started around 20 days ago and the change came from 500k to 5k) any day soon, it will probably end up as many already bankrupt companies. Unfortunate :/
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