Why should I try CryptoLoan?
CryptoLoan is a smart lending product designed to meet high demands of crypto investors. CryptoLoan allows you to add some liquidity and enjoy the value of your crypto assets without selling them. As CryptoLoan offers loans secured with collateral in BTC, you can receive a loan up to SEK 150 000 for your personal or business needs without selling your cryptocurrency.
How to borrow?
The borrowing process is simple – a borrower requests a loan through CryptoLoan website and sends the calculated collateral in BTC to the lender’s wallet. The loan in SEK is then transferred to the borrower’s bank account. Transferred collateral remains the property of the borrower
What is the minimum and maximum I can borrow?
CryptoLoan offers you to borrow any amount starting from SEK 5 000 to SEK 150 000. Please note that loans offered by CryptoLoan are over-collateralized – the amount you will be able to borrow may not exceed the 50% loan-to-value (LTV) threshold.
In what currencies can I borrow?
Currently, loans issued by CryptoLoan are available in SEK.
How to repay?
The borrower receives monthly bills and is required to make timely payments. As soon as the loan and accrued interest is repaid, collateral in BTC is automatically transferred back to the borrower.
What can I use the loan for?
The loan issued by CryptoLoan can be used at the borrower's discretion – for personal, household or business purposes.
Is this loan secured?
Yes, CryptoLoan is secured loan as the borrower is providing collateral for the amount borrowed (loan-to-value (LTV) – 50%).
What types of crypto currency collateral do you accept?
Currently, only Bitcoin (BTC) is accepted as collateral.
Why are blockchain assets the best collateral?
Blockchain assets are well suited for collateral purposes as are characterized by higher liquidity than other asset classes. Crypto assets are cheaper to transfer and store. The core of blockchain is to ensure high transparency and public transaction management that allows avoiding fraud and other threats associated with online transactions.
With what exchanges does CryptoLoan cooperate?
Currently, CryptoLoan is cooperating with digital cryptocurrency exchange Bitstamp.
What is the annual interest rate of the loan?
The yearly interest rate for loans issued by CryptoLoan is 40%. Borrowers are obliged to make at least minimum payment however, it is possible to do additional payments or repay full amount of the loan at any time. If all payments are concluded on time, there are no other costs than the credit rate.
What are the collateral transfer fees?
The collateral transfer fee may depend on the transfer services demand in the cryptocurrency market and other factors. The transfer fee will be calculated within the first Bitcoin transfer and deducted from the amount of transferred collateral.
Are there any additional fees?
Besides fees described above, CryptoLoan does not have any registration, membership or other hidden costs.
How can I get in touch with CryptoLoan?
You can easily reach out to us by e-mail at firstname.lastname@example.org phone: 0757575023 or fax: 0757575043.
What are CryptoLoan working hours?
You can easily apply for a loan during 24 hours per day. Your application will be reviewed during office work hours Monday to Friday from 8:30 am to 5:00 pm and Saturday from 10:00 am to 4:00 pm. Usually, the processing time of the credit application takes up to one hour.