DeFi Reviews

Coinloan Review: Cryptocurrency-Based P2P Loans Platform

Coinloan is a peer-to-peer lending platform that caters to both borrowers and investors. Read on for our full review with Pros & Cons
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The peer-to-peer lending space has grown to exponential heights in recent years, not least because it’s a win-win situation for both the borrower and lenders. Regarding the former, P2P sites pave the way for a seamless borrowing process that does away with never-ending documents.

And the latter – P2P sites allow everyday investors to lend their money out in return for fixed interest. As such, it was only a matter of time before the phenomenon reached the cryptocurrency arena.

At the forefront of this is Coinloan – which claims to be the first P2P lending platform for loans backed by crypto assets.

In a nutshell, the platform allows individuals to borrow funds against cryptocurrency holdings – with a Loan-to-Value (LTV) of up to 70% on offer.  For those looking to make some passive income, Coinloan typically offers double-digit returns when funding the investment with fiat currency or stable coins.

Fancy finding out whether or not the P2P lending platform is right for your financing or investment needs? Be sure to read our Coinloan review.

Coinloan homepage
CoinLoan is the first P2P lending platform for cryptoassets backed loans

Visit CoinLoan

What is Coinloan?

In its most basic form, Coinloan is a peer-to-peer lending platform that caters to both borrowers and investors. For those looking to borrow money, the platform operates in a similar nature to a secured loan. This is because you will be required to put your cryptocurrency holdings up as collateral.

In return, you’ll be able to borrow up to 70% of the cryptocurrency’s LTV. Moreover, this also alleviates the need to have a credit check carried on you, so the platform is suitable even if you are in possession of a bad credit rating.

How the Platform Works
How the Platform Works

Coinloan allows you to borrow funds on both a short-term and long-term basis. This covers loan terms of just 7 days, all the way up to 3 years. You will, of course, need to pay interest on the borrowed funds as you would with any other loan provider.

At the other end of the spectrum, Coinloan is also suitable for those of you that wish to earn passive income. The platform allows you to invest fiat currency and stable coins, with the funds then being distributed to those that borrow money from Coinloan. In return, the platform offers a rather juicy headline rate of 12% per year. However – and as we’ll cover in more detail shortly, the exact rate will vary depending on a number of variables.

In terms of the company itself, Coinloan was first launched in 2016 and it has its headquarters in Estonia. The company is regulated by the Estonian Financial Supervision Authority – meaning it holds the required European Financial Licenses to operate.

There’s much to learn about the core services offered by Coinloan, so it’s probably best that we explore the platform from the perspective of the borrower and the investor.

Using Coinloan as a Borrower

If you’ve previously borrowed funds from a traditional financial institution, then you’ll know first-hand just how cumbersome the process can be. You’ll be required to fill out countless documents – even when applying online. You’ll then have a credit check run on you, with the search likely to appear on your credit report.

Most importantly, if your credit profile is less than ideal, then you might have your loan application denied on the spot.

Benefits for Borrowers
Benefits for Borrowers

As such, it’s well worth considering an alternative lending platform like Coinloan – as long as you’re in possession of cryptocurrencies. As noted above, you’ll need to deposit your cryptocurrencies at Coinloan in order to be eligible for financing, and the amount you can borrow is based on the market value of your security at the time of the deposit.

Let’s break down some of the fundamentals.

Loan Size

Coinloan bases its financing products on the LTV of your cryptocurrency security. This can go as high as 70%, which is huge. For example, let’s say that you decide to put $10,000 worth of Bitcoin up as collateral. If eligible for the maximum LTV of 70%, you would be able to borrow up to $7,000.

Take note, the LTV is based on the current market value at the time you make the deposit. Knowing just how volatile cryptocurrencies can be, the LTV is likely to move on a daily basis. As such, you’ll give yourself a much larger safety net by choosing a lower LTV.

Instant Loans
Instant Loans using your crypto as collateral

Supported Cryptocurrencies

The platform currently supports seven crypto assets as a means to securitize your loan application. This includes the following:

  • Ethereum (ETH)
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Monero (XMR)
  • Ontology (ONT)
  • CoinLoan Token (CLT)

Coinloan notes that it plans to add more supported cryptocurrencies in the very near future. You’ll also notice that the platform has its own digital token – the CoinLoan Token (CLT).

Interest Rates

There is no fixed interest rate per-say at Coinloan, as this will vary from borrower-to-borrower. This will depend on the amount being borrowed, the term of the loan, the type of cryptocurrency used as collateral, and the size of the LTV.

Crucially – and fully in-line with the P2P ethos, the final interest rate is determined by the markets. As investors will get to choose which loans they back, the interest will vary as per market conditions.

It is also important to note that you get to choose from an Interest-Only agreement or a Principal + Interest agreement. If opting for the former, your repayments will only include the interest, with the principal due on your last repayment date.

The wallet page for depositing your crypto as collateral

How are my Coinloan Funds Paid?

Once you’ve had your loan confirmed by the platform, you will have a number of options when it comes to accessing the funds. This includes fiat currency, stable coins, and cryptocurrencies.

Fiat Currency

You can withdraw your loan funds in EUR, USD, GBP, or RUB.

Coinloan supports the following payment channels to execute the withdrawal:

  • SEPA
  • AdvCash
  • Alfa-Bank

Stable Coins

If you choose to withdraw your loan funds as a stable coin, you can choose from the following:

  • TUSD
  • USDC
  • USDT
  • PAX
  • DAI
  • EURS


Loan funds can also be paid out in the following cryptocurrencies:

  • BTC
  • ETH
  • LTC
  • XMR
  • CLT

How and When do I Need to Repay my Coinloan Funds?

Firstly, when you go through the Coinloan application process, you’ll get to choose the length of your required loan term.

You can choose from the following

  • 7 days
  • 14 days
  • 1 month
  • 3 months
  • 6 months
  • 1 year
  • 2 years
  • 3 years

Regardless of the loan term that you opt for, you will need to make your repayments in the same currency that you borrowed. For example, if you borrowed the funds in USD, then you’ll need to repay in fiat currency. Similarly, if you borrowed Bitcoin, repayments need to be made via BTC.

Your first repayment will be due 30 days after the funds were drawn down from Coinloan, and then every 30 days after that. However, if you opted for a short-term loan of fewer than 30 days, you’ll need to make your repayment in-full before the last day of the loan. For example, if you borrowed the cash on a 14-day term, then you’ll need to make the repayment no later than day 14.

LTV Risks and Falling Behind on Repayments

It is crucial that you have a firm understanding of the risks of borrowing funds from Coinloan. The reason for this is that your loan is based on the market value of your cryptocurrency security at the time of the deposit. With the cryptocurrency markets operating in a highly volatile battleground, the value of your security will fluctuate on a daily basis. As such, this will impact the LTV of the loan, meaning that you could step into ‘liquidation’ territory.

Here’s how it works:

  1. Let’s say you take out a loan from Coinloan at an LTV of 70%. This would be the maximum LTV offered by the platform.
  2. You deposited Bitcoin as your security when it was worth $8,000. This means that you borrowed $5,600.
  3. However, a few weeks later the value of Bitcoin begins to decline. With Bitcoin now worth $7,000, your loan amounts to an LTV of 80% – based on the $5,600 you borrowed.
  4. As such, you’ll receive a notification from Coinloan letting you know that you run the risk of being liquidated.
  5. You can either repay some of the loan funds to bring your LTV ratio back down, or do nothing.
  6. If you choose to do nothing and the price of Bitcoin continues to decline, Coinloan will proceed to sell your holdings to bring the LTV down.

On the flip side, there is always the chance that the LTV of your loan will decrease if the value of your securitized cryptocurrencies goes up. If this is the case, you will have the option of borrowing more money against your collateral.

So now that you have a full-and-frank understanding of how Coinloan works from the perspective of the borrower, we are now going to explore what the platform is like for those of you that wish to invest.

Using Coinloan as an Investor

If you’re an everyday investor that’s looking to make a bit of passive income on the side – it’s well worth considering the metis of Coinloan. This is because the platform offers generous returns that often fall within the doubt-digit threshold.

While the specific yield on offer will vary, Coinloan advertises an annual interest rate of 12%, which is very competitive.

Benefits for Investors
Benefits for Investors

Step 1: Open an Account and Confirm Your Identity

If you’ve ever used a peer-to-peer lending platform before, the process works largely the same at Coinloan.

First and foremost, you’ll need to create an account and then go through the KYC (Know Your Customer) process. This is a requirement because of Coinloan’s relationship with fiat money – and more importantly, due to its regulatory standing.

The signup process is straight forward

As such, you’ll need to upload a copy of your government-issued ID, which can be a passport or national ID card. If you’re from the US, this can also be a driver’s license. You will also need to upload a picture of you holding the ID next to your face. This ensures that you are who you say you are.

Step 2: Deposit Funds

You’ll get more deposit options when using the platform as an investor. This includes a bank transfer through SWIFT or SEPA, as well as a debit or credit card. If using a credit card, make sure that your bank doesn’t categorize the deposit as a cash advance. If it does, you might get charged 3% interest straightaway – which will then have a direct impact on your Coinloan yield.

Deposit Funds
Deposit Funds

Take note, the primary currency utilized by the lending side of the platform is EUR. While you can use a card or bank account from any country, if it’s a non-EUR payment Coinloan will automatically convert it at the point of the transaction. Once again, this could present additional fees.

Step 3: Invest in a Loan

Once you have funded your Coinloan account, you are then ready to make your first investment. You have two options available to you. Firstly, you can set up your own loan parameters and then post it to the Coinloan marketplace. This should include metrics such as the amount you are happy to lend out, for how long, and at what interest rate.

Lending Market
Lending Market – Loans on offer

Alternatively, you can head over to the marketplace to see what loan requirements are already live. This is where borrowers have posted their requirements –  so if you like the look of a particular financing request, you can back it straightaway.

Whichever option you do decide to go with, the investment will be taken from your Coinloan account balance.

Step 4: Receive Your Repayments

Once you have backed a loan at Coinloan, the repayment process works the same as any other P2P site. If opting for a short-term loan of fewer than 30 days, you will receive your repayment in one-hit. This will be on or before the loan term maturity date. For example, if you opt for a 7-day loan term, you should receive your repayment on day 7 at the latest.

Alternatively, if the loan is at 3 months or more, you will receive monthly repayments. The specific amount will depend on whether you opted for an Interest-Only structure, or Principal + Interest. If it’s the former, then you will only receive the applicable interest each month, and then the initial principal on the last repayment date. If it’s the latter, then you will receive equal repayments each month until the loan is repaid in full.

Coinloan Interest Account

The other option that you have at your disposal as an investor is the Coinloan Interest Account. This allows you to earn 8% interest per year for depositing your digital tokens at Coinloan.

At the time of writing, this only includes USDC, USDT, and PAX. The interest can change at any given time, although the investment is not based on a minimum term. As such, you can withdraw your coins back out as and when you see fit.

Coinloan Interest Account
Coinloan Interest Account

Is my Money Safe at Coinloan?

Irrespective of whether you are a borrower or an investor – you need to have a firm understanding of how safe your money is at Coinloan. First and foremost, Coinloan holds a number of regulatory licenses and certificates.

This includes a FinCEN MSB Registration, FATCA FFI Registration, MTR Virtual Currency Wallet Service License, and an MTR Financial Institution License. The platform also publishes its three European Financial License numbers, which are:

  • FVR000111
  • FRK000091
  • FFA000241

From the perspective of borrowers, your biggest risk is the collateral that you have stored at Coinloan. In order to counter these risks, Coinloan does not store any private keys on network-connected devices, and all crypto assets are stored in cold multi-signature wallets.

Moreover, all withdrawals are processed manually. While this does mean that withdrawals are not instant, this ensures that your funds are kept safe at all times.

If you’re an investor at Coinloan with outstanding loans, the biggest risk that you face is a default. The good news is that all loans at Coinloan are securitized with crypto assets, which the platform will seize and sell in the event of a default.

Customer Support

If you need to speak with a member of the Coinloan customer support team, you can do this via live chat. Alternatively, you can send the team an email at

The support team at Coinloan also has a presence on social media, which includes Facebook, Twitter, and Telegram.

Coinloan Review: The Verdict?

In summary, Coinloan offers an interesting alternative to the ever-growing peer-to-peer lending space. If you’re a borrower that’s in possession of a supported digital currency, then you stand the chance of a loan of up to 70% LTV of the asset’s market value.

Not only can you opt to receive the funds in either fiat currency or cryptocurrency, but there are no credit checks carried out. As such, the platform is suitable even if your credit is less than ideal.

At the other end of the spectrum, Coinloan is also notable for those of you in the lookout for passive income. By depositing fiat currency and setting up your preferred loan terms, you can earn up to 12% in annualized yield.

While the investment isn’t 100% fool-proof, you do have the added security of the borrower’s crypto-collateral.

Visit CoinLoan



Ease of Use






Customer Support


Payment Methods



  • Attractive for Investors & Borrowers
  • Easy to Use
  • Well Designed
  • Loans Secured with Crypto Collateral
  • Great Returns on Offer


  • Doesn't show info on defaults

Important Note: There have been reports of scammers approaching companies via Telegram, LinkedIn and Other Social platforms purporting to represent Blockonomi and offer advertising offers. We will never approach anyone directly. Please always make contact with us via our contact page here.

Kane Pepi

Based on the Blockchain-Isle of Malta, Kane holds a Bachelor’s Degree in Accounting and Finance, a Master’s Degree in Financial Investigation and he is currently engaged in a Doctorate – researching financial crime in the virtual economy. With a keen passion for research, he currently writes for a variety of publications within the Financial and Cryptocurrency industries. Contact

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