Coinloan is an investment platform licensed as an authorized financial entity by the Estonian regulator that offers us the opportunity to invest in loans protected by crypto assets and whose flagship product is an investment account in euros that currently offers 8% interest annual.
We have been the first to thoroughly test this platform and in this MEGAreview we tell you our impressions and all the information you are looking for … are you ready? 🙂
What is Coinloan Statistics and Global Data
Coinloan is a platform for investment in loans guaranteed by a collateral called in various cryptocurrencies such as bitcoin, ethereum, ripple, etc. In case of a possible default by the borrower, the crypto assets offered as collateral are put up for sale, assuring the collection of capital and interest . This is a conceptually similar mechanism, for example, to loans with mortgage guarantees from Estateguru and the like, only in this case the collateral is cryptocurrencies instead of real estate.
What at first glance may seem a mere curiosity, the truth is that it enables and gives us access to a new type of asset that can bring variety and depth to our global investment portfolio in P2P lending.
In Coinloan we can manually invest in the different loans offered or even put our own conditions to the borrowers, but without a doubt the most interesting modality is their fixed-rate investment account denominated in euros, which currently rents 8% annually and once set up It works alone, bringing us monthly true passive income from our capital.
First Steps in Coin Loan
Registration in Coinloan is frankly simple and similar to other European crowlending platforms. It will only take a few minutes to complete and consists of the following steps:
➊ Fill in the initial investor registration form.
➋ Confirm the email address by clicking on the corresponding email.
➌ Provide proof of identity to carry out the verification (including ID or Passport, selfie photo and proof of address).
➍ Make the first contribution of funds by bank transfer, credit card or cryptocurrencies.
Requirements to create an investor account in Coinloan
+ Be of legal age.
+ Registration is open for most nationalities, including all European countries and most of our friends who read us from Latin America.
Deposits How to add funds to our Coinloan.io account
Coinloan offers us numerous ways to deposit funds, including the usual methods of bank transfer and credit card, but also alternative methods using cryptocurrencies. In the image below we can see the different currencies and assets in which we can invest, which of course includes the standard transfer in euros of a lifetime – marked in red.
Bonus Coinloan Cashback – New Users Bonus
Coinloan does NOT currently offer any specific bonus or promotion for new users. Remember that if you want to try the platform and register from our link you will get our free PDF Guide with more than 70 platforms to invest in “crowd” in 2023.
How Coinloan Commissions Works
Coinloan has absolutely NO commission for the investor. It is thus a platform “0.0” commissions as we like on this website 🙂
How to Invest in Coinloan Crowdlending in 2023
Coinloan offers two basic types of investment from 100 euros:
- MANUAL Investment in the Lending Market through the Offers and Request system
- AUTOMATIC Investment through the so-called Interest Accounts
Automatic investment through an Interest Account is undoubtedly the most attractive in Coinloan, since it allows us to obtain a fixed interest rate for our capital (currently 8% in euros) by automatically investing in over-guaranteed loans through crypto assets.
The Manual investment is based on the creation of OFFERS on our part with the loan conditions in which we are interested and / or the acceptance of REQUESTS of other users who have uploaded to the platform the conditions by which they want to have access to a loan . Although this methodology allows greater control of the variables, it is somewhat cumbersome, and at the moment it does not exceed the yield obtainable through automatic investment.
It should be noted that in both types of investment we can invest in other currencies in addition to euros , such as Bitcoin, Ethereum, Paxos, Tether, USD Coin, TrueUSD, etc. If we wish so.
Investment Manual Analysis Coinloan P2P – Most Important Parameters
Within the Coinloan Lending Market we will have two options when investing manually:
- Create our own loan offer (OFFER) in which we define the parameters of term, profitability, etc. We want to get.
- Accept any of the loan applications (REQUEST) created by other users
Be that as it may, in both cases we have to take into account a series of parameters that we detail below:
➊ Loan Amount
Loan amount, which can be defined as a fixed amount or a range. Note that the amount may be denominated in euros or in some other (crypto) currency such as BTC, ETH, LTC, etc.
➋ Interest Rate
The annualized return that we will obtain with this operation.
➌ Repayment Option
We have “Interest-Only”, the most common, consisting of the payment of interest month by month and the return of capital at the end of the loan and “Principal + Interest”, amortizable form in which a monthly installment of capital is entered invested in addition to the corresponding interest.
➍ Loan Term
Duration of the operation until expiration, again, usually expressed as a range.
➎ Allowed Collateral
Assets that we allow to be presented as a loan payment guarantee, which are usually different denominations of cryptocurrencies, which would be required of the borrower and sold in case of default to pay our capital and interest.
Coinloan Interest Account – How Autoinvest Works (Automatic Investment) – Step by Step Tutorial and Configuration
The Coinloan interest account is undoubtedly the most interesting function presented by the platform, since it will allow us to obtain income in a completely passive way at the current rate (at the time of writing these lines, the interest rate offered for the accounts in euros is 8% per year).
You can access this account or deposit from 100 euros. Interest is generated on a daily basis, and paid monthly (meanwhile it will appear as “accrued interests”). The liquidity is instantaneous and Coinloan guarantees the payment of the agreed interest rate.
How can Coinloan offer 8%?
Coinloan puts our money to work automatically on its platform – without requiring any action other than the steps described below – in such a way that the funds are distributed and used to finance overcollateralized loans with crypto assets with collateral (in case if the borrower does not pay the loans, the deposited cryptocurrencies are sold and capital and interest are recovered).
What steps do we have to follow to contract an investment account with Coinloan?
➊ Select the INTEREST ACCOUNT option from the main menu
➋ Select the currency with which we want to generate interest (normally we will choose euros, but we can also generate interest with cryptocurrencies that we have or stablecoins)
➌ We will check the INTEREST RATE that they will pay us.
➍ We will click on DEPOSIT to present the options we have to add funds.
Coinloan Secondary Market and Liquidity
At this moment, Coinloan does not yet have a secondary market, nor does it have to know this functionality planned for the near future. Even so, it should be noted that the interest account presents immediate liquidity, so liquidity will not be a priori a problem if we select this type of investment.
Buyback Coinloan Buyback Guarantee
Coinloan does not operate with repurchase guarantees in the sense that we are accustomed to Latvian platforms such as Mintos. The protection it offers in each of its operations resembles that of Estateguru, for example, that of Mintos.
Thus, if in Estateguru we have for example a property of 100,000 euros as a guarantee of payment of a loan of 50,000 euros (50% of LTV), in Coinloan we have a cryptocurrency basket provided by the borrower with a value far superior to the requested loans, with what in case of default, Coinloan can put these crypto assets on sale and recover the invested capital plus interest owed.
Originators Coinloan Deal Partners
Coinloan does not work with external originators but it is the platform itself that connects borrowers with lenders and originates the entire volume of investment.
Coinloan Pay – Cash Withdrawals
Coinloan allows us to withdraw our available balance at any time and from 1 euro, without charging any type of commission to the investor . Usually withdrawals are processed quickly and in one or two business days we will have the money back in our bank account.
Is Coinloan safe? Risks and Regulation
Coinloan is a European regulated entity with the following licenses of the corresponding regulator: FVR000111 (Activity License as an entity that provides cryptocurrency and fiat currency exchange services), FRK000091 (License as an entity with cryptocurrency storage service) and FFA000241 ( Institution providing financial services).
Like the rest of crowdlending platforms, investing in Coinloan loans and operations can be a very profitable activity, but not without risks, some of which we indicate below:
+ Risk of lack of liquidity of our investments.
+ Risk of non-payment of loans by borrowers.
+ Risk of incorrect valuation of the assets offered as collateral.
+ Risk of adverse evolution of the cryptocurrency market.
+ Bankruptcy risk of the platform.
Ergonomics Coinloan Web and Reports
The Coinloan website is modern, functional and relatively simple to use.
If we carry out the study of distance in clicks for the most common operations that we usually carry out, we obtain the following results:
★★★ 3 clicks to invest in one of its operations.
★★★ 3 clicks to see the status of one of the loans in which we have invested.
★★★ 3 clicks to withdraw money.
Which is in line with the rest of the platforms we have analyzed.
Coinloan Expected Real Annual Yield
✰ Coinloan has an average gross return of approximately 8 % with a wide range of available returns.
✰ It does not present any type of commission for investing users, so no losses are expected in this regard.
✰ It is not expected to reduce long-term defaults (all loans have guarantees in crypto assets that comfortably cover operations).
✰ The estimated annual average net profitability, so it is 8% base minus (0)% of losses and commissions = 12% annual net for a well diversified long-term portfolio , which is slightly below the average platform Crowdlending evaluated on this website.
Coinloan Taxes – Tax Withholding
Coinloan does NOT practice any withholding of interest earned on its platform. It is our responsibility to declare them in the IRPF / Annual Income Statement. Remember that crowdlending interests are taxed as movable capital yield. In case of doubt, please consult a tax advisor.
Coinloan P2P Lending – Contact Information and Customer Service
Coinloan (ExFinance OU) is headquartered in Narva mnt 7-634, Tallinn, 10117, Estonia and makes the email firstname.lastname@example.org available to users
In our experience, the Customer Service is excellent: fast and efficient, professionally answering any questions or queries we may have.
Coinloan 2023 Opinion – Final Conclusion
“ Coinloan is a unique platform that allows us access to a new class of assets within crowdlending: loans secured by crypto assets. With a flagship product as interesting as your investment account in euros at 8% with total liquidity, it is certainly worth taking a good look. “
Advantages of Coinloan – Strengths
➊ Complicated investment account with an interesting return (currently 8% per year)
➋ Immediate liquidity, being able to undo positions whenever we want and request withdrawal of our capital.
➌ Regulated entity, with licenses from the competent financial authority in your country (Estonia).
➍ Possibility of diversifying our portfolio in assets guaranteed by cryptocurrencies. An interesting complement in the framework of global lending.
Weaknesses and aspects to improve
➊ Coinloan is a young company that is increasing its client and investor base. The performance of its long-term operations remains to be verified.
➋ Although all loans have a loose LTV, we must not forget that they are still operations guaranteed by crypto assets, an intrinsically volatile investment vehicle.
Alternatives to Coinloan Review
Right now we don’t have other crowdlending platforms with crypto assets as collateral in the blog. Soon we will publish the review of Nexo , another similar cutting platform. In the field of investment accounts with instant profitability we also have Iban Wallet .
Do you want to have a space to comment and share your doubts and experiences about this Estonian crowdlending platform?… Look no further! Here below we enable the Coinloan Forum so you can express yourself and ask freely… Write us your comment! 🙂