BTC Wires: CoinLoan recently launched a platform to facilitate a better lending and borrowing experience for their users. This platform is a crypto-to-fiat lending arena where virtual currency is utilized as collateral. This Estonia-based startup has made the entire process of borrowing and lending exponentially easier for the users by the launch of this platform.
Now, users worldwide can easily avail crypto-backed loans, and they can even become voluntary lenders and borrowers on the platform of their own free will. CoinLoan aims to ensure the safety of all the users and their transactions in addition to linking counteroffers by way of this platform.
This new concept employed into action by CoinLoan is, indeed, one-of-a-kind and a win-win situation for all parties involved. The company boasts of successfully carrying out the very first loan agreement through this platform. It also revealed that solvency proofs, licenses as well as credit history checks are superfluous for lending or borrowing a loan on this platform. This makes it immensely straightforward for users to register their account, verify it and carry out transactions instantly.
Alex Faliushin, CEO & Founder of CoinLoan, talked about this new venture saying, “A user-centric approach has always been a priority for us. It makes us unique in comparison with other Fintech startups popping up these days. At the moment, CoinLoan offers the most flexible conditions in the lending market. The main advantage of the project is that it is based on the P2P economy. It means anyone can lend or borrow controlling the terms individually.”
He went on to add, “For instance, we asked our audience about their demands and saw a request in micro, medium and large loans as well. That’s why on CoinLoan every user can create a loan application according to his/her current needs, whether for a €500 short-term loan or a big deal.”