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How Do I Get a Loan from CoinLoan?

CoinLoan is a platform that allows you to earn, trade, and borrow more than 20 cryptocurrencies. Getting a loan from CoinLoan is a simple, automated process that requires no credit check or paperwork. It allows you to continue to grow your cryptocurrency assets by granting you access to the amount of your funds without selling prematurely. There is no deposit required when you apply for a loan and you don't need to provide prepayment. All you need is KYC verification and collateral.

What Is Know Your Customer Verification?

To get a loan from CoinLoan, first, you'll need to Know Your Customer verification. Know Your Customer verification, also known as Know Your Client verification or KYC verification, is a method of confirming that a customer is the person they say they are.

Some companies use KYC verification to avoid forming business relationships with customers involved in terrorism or money laundering. For KYC verification, you have to provide your contact information, a photo of an identity document, and a selfie.

Getting a Loan

How to get a loan from CoinLoan:

  1. Deposit your collateral.
  2. Click on Instant Loans, select a loan term, the amount you have for collateral, the loan-to-value (LTV) ratio, and how much you want to borrow. The interest depends on the LTV you chose and is fixed. When you want to confirm your loan parameters, click Get Loan Now.
  3. View your loan in Loans. Withdraw your loan from your Wallet.
  4. Repay your loan every month based on your repayment schedule. You may pay back your loan earlier than when your schedule states.
  5. When you've fully repaid your loan, your collateral will be available to withdraw in your Wallet.

If you need any assistance with getting a loan or you have any other questions about your account, contact CoinLoan customer service and a representative will help you.

Further questions?

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Christian has been writing about long hold times and customer service call center experiences since 2010. He's been featured in Bloomberg, the Wall Street Journal and the Boston Globe.

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