CoinLoan Review
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Earning interest on cryptocurrency is a great source of passive income and crypto lenders have become the best place for investors to do this. With high-paying interest accounts, the ability to purchase crypto directly on the platform, and crypto-backed loans with reasonable interest rates, CoinLoan has become a popular place to earn interest on crypto and obtain loans.
CoinLoan offers crypto-backed loans for as little as 4.95% APR and has interest accounts that pay up to 12.3% APY on deposited cryptocurrency. CoinLoan users can deposit supported crypto on the platform for free and start earning interest right away. The loans are also instantly available, allowing users to deposit crypto and borrow against the balance without the need for a credit check or lengthy application process.
This review will examine the top features of the CoinLoan platform with an assessment of its fees, limits, interest rates, loan-to-value ratios, available assets, obtaining a loan, and its pros & cons.
Our Take
Bottom line:
CoinLoan offers a few great features, including the ability to earn up to 12.3% interest on deposited crypto, borrowing against deposited crypto, built-in crypto exchange and live chat support. While the lending provider also offers an intuitive mobile app for both Android and iOS, the downside of CoinLoan is its lack of supported crypto, monthly interest pay-outs and slightly higher interest rates on some crypto loans compared to other platforms.
- High interest payments on deposited crypto
- Customer service available via live chat
- Can buy, sell, and swap crypto on the platform
- No deposit fees
- Cannot purchase crypto with a credit or debit card
- High interest rates on some crypto loans
- Only 25 cryptocurrencies available
- Spread fee for purchasing crypto can be higher than other crypto exchanges
What Is CoinLoan?
CoinLoan is a crypto lending and savings provider that was founded in 2017 and is headquartered in Tallinn, Estonia. The platform allows individuals to borrow against deposited crypto funds and also has an exchange to buy, sell, and swap cryptocurrencies.
CoinLoan is primarily a lending platform allowing users to deposit supported cryptocurrencies and borrow against those deposits. On the lending side, users can deposit crypto for others to borrow and earn up to 12.3% APR in interest. 25 cryptocurrencies that can be used as collateral for loans and deposited into an interest account.
Similar to other world-class finance providers, CoinLoan can be used to buy and sell crypto through its built-in exchange or swap crypto directly on the platform. For investors looking for a reputable and top lending platform for crypto with good rates, CoinLoan is a solid choice.
Platform | CoinLoan |
---|---|
Fiat Currency | 2 (EUR, GBP) |
Cryptocurrency | 23 (for purchase), 20 (for loans) & 25 (for earning interest) |
Payment Type | Cryptocurrency, SWIFT, SEPA |
Trading Fee | ~ 1.0% spread |
Deposit Fee | None |
Withdrawal Fee | Only on ERC-20 withdrawals |
Mobile App | Yes |
CoinLoan Compared
CoinLoan is a lending platform that offers instant crypto-backed loans, and interest-bearing crypto savings accounts with a simple exchange to trade assets. Some other top-notch lending and borrowing platforms that are similar to CoinLoan are Crypto.com Earn and Nexo. Read the reviews below for a detailed overview of each provider.
Exchange | Crypto Assets | Trading Fees | Rating | Promotion | Website | Review |
---|---|---|---|---|---|---|
Nexo | 72 | 0.99% | Rating | Get $25 in Bitcoin when you top-up or buy >$100 | Visit Nexo | Nexo Review |
Binance Earn | 397 | 0.1% | Rating | Up to $100 welcome bonus | Visit Binance Earn | Binance Earn Review |
Crypto.com | 288 | 0.075% | Rating | None available at this time | Visit Crypto.com | Crypto.com Review |
Is CoinLoan Safe?
CoinLoan is a safe and secure platform for users to borrow, lend, and exchange cryptocurrency. There are no reported hacks on the platform to date. Crypto assets are stored in offline cold storage vaults with multiple signatures required to access them. They also follow the latest data security protocols (SSL) and have a $100 million insurance policy against theft.
Are US Investors Allowed?
Yes, CoinLoan is a FinCEN licensed business that is available in all 50 U.S. states for residents to use crypto loans and interest-bearing account products. There do not appear to be any restrictions specifically for U.S. customers within the Terms and Conditions at the time of writing.
What Features Does CoinLoan Offer?
Crypto-Backed Loans
CoinLoan offers crypto-backed loans that enable users to transfer cryptocurrencies to the platform and borrow fiat currencies in EUR, GBP, or other digital currencies against their holdings. 25 cryptocurrencies that can be used as collateral to obtain a loan. The amount that can be borrowed depends on the loan-to-value ratio which is 20%, 35%, 50%, or 70%.
Depositing a higher amount of collateral reduces the loan interest rate of 8.95%, 6.95%, and 1% respectively. Although, investors should be cautious as a higher loan-to-value (LTV) also increases the risk of liquidation. The interest rates vary by crypto selected and loan terms are 6 months up to five years. For example, on a USDC loan using Bitcoin as collateral, users can borrow 50% of the value with an interest rate of 9.95% APY. In comparison, borrowing 20% of the loan amount has a reduced interest rate of 4.95% APY.
Loan-to-Value Ratio (LVR) | USDC Interest Rate |
---|---|
20% | 4.95% |
35% | 7.95% |
50% | 9.95% |
70% | 11.95% |
CoinLoan loans need to be paid back in the currency that was borrowed (such as USDC). However, users can obtain a 50% discount on the loan origination fee if the loan repayments are settled using CoinLoan tokens (CLT). The discount is deducted from the loan currency fee amount at the time of payment. The default origination fee is 1%, which is more expensive than Nexo, which does not charge an origination fee based on our reviews.
There are minimum limits to borrowing funds which are dependent on the type of currency being borrowed. The supported coins available to borrow and the minimum limits are shown in the table below.
Cryptocurrency | Minimum Borrow |
---|---|
Bitcoin (BTC) | 0.01 BTC |
Wrapped BTC (WBTC) | 0.01 WBTC |
Ethereum (ETH) | 0.5 ETH |
Binance USD (BUSD) | 1,000 BUSD |
Dai (DAI) | 1,000 DAI |
TrueUSD (TUSD) | 1,000 TUSD |
USD Coin (USDC) | 1,000 USDC |
Tether (USDT) | 1,000 USDT |
Euro (EUR) | 500 EUR |
Pound Sterling (GBP) | 5,000 GBP |
Loans are instantly approved when your collateral is deposited and the terms are selected. There is a 1% loan origination fee, but this fee can be reduced by 50% by paying for it with CLT tokens.
Users should be aware that CoinLoan loans can be liquidated or "margin-called" if the value of collateral drops below the value of the loan. The threshold is a 70% loan-to-value (LTV) which is then deemed to be a “liquidation risk.” This means CoinLoan can liquidate part of the collateral to pay back the loan, which is a risk of any crypto loan product.

Crypto Interest Accounts
CoinLoan customers who lend out their assets can earn interest payments on the deposited amount. 25 assets that can be transferred to a crypto savings account to accrue interest. The interest will be paid in the same currency as the deposit.

Up to 12.3% APY can be earned deposited funds with the selection of stablecoins paying the highest rates. CoinLoan also offers interest on fiat deposits such as EUR or GBP which is an attractive feature and comparable to its competitor Nexo. To boost the interest rate on a crypto interest account, users can stake CLT tokens. Staking up to 2,500 CLT tokens can provide up to a 2% boost in interest rate, making the highest interest account over 12% APY.
The benefit of investing crypto-assets with CoinLoan is the higher than-average interest rates compared to traditional financial institutions. Moreover, the interest amounts are added to the initial balance after each month to allow compounded to take effect. This can increase the return on investment in the long run.
Cryptocurrency | Interest Rate | Interest Rate (with 2,500 CLT staked) |
---|---|---|
Bitcoin (BTC) | 5.20% | 7.20% |
Ethereum (ETH) | 5.20% | 7.20% |
XRP (XRP) | 5.20% | 7.20% |
Polkadot (DOT) | 5.20% | 7.20% |
Cardano (ADA) | 5.20% | 7.20% |
Maker (MKR) | 1% | 3% |
TrueUSD (TUSD) | 10.30% | 12.30% |
USD Coin (USDC) | 10.30% | 12.30% |
Paxos Standard (PAX) | 10.30% | 12.30% |
Tether (USDT) | 10.30% | 12.30% |
Binance USD (BUSD) | 10.30% | 12.30% |
Euro (EUR) | 10.30% | 12.30% |
Pound Sterling (GBP) | 10.30% | 12.30% |
However, the monthly pay-out frequency offers a lower return compared to other platforms such as Crypto.com and Nexo which have daily interest pay-outs and greater potential for compounding. This is a disadvantage with the CoinLoan savings account. As an example, CoinLoan users can earn Bitcoin interest at a rate of 5.20% for any amount. To see how this compares, read our article on where to earn interest on Bitcoin.
Crypto Exchange
CoinLoan includes a basic crypto exchange on the platform, with the ability to buy, sell, or swap crypto. Users can trade 23 available cryptocurrencies using a modern and simple-to-use interface that is suitable for individuals of varying experience levels. The rates are adjusted every 30 seconds and are locked in once the transaction is finalized. There is a spread charge which will vary per transaction. Based on our calculation, the spread is about 1% of the total transaction. Once the purchase is made, the cryptocurrency will be deposited directly into the user’s CoinLoan account.
While the spread fees are quite high compared to the most used crypto platforms. However, the feature is useful for its convenience and for minimizing the withdrawal fees transferring to another exchange and back to CoinLoan.

Additional Perks Using CLT Tokens
The CoinLoan token (CLT) is the native token of the CoinLoan platform and provides benefits to holders. Staking CLT tokens increases rewards on deposited crypto while earning interest. For users that obtain a crypto-backed loan, paying the repayments using CLT tokens offers a 50% discount on the loan origination fees. The benefits of the CLT tokens are summarized below:
- Interest rate increase. Up to a 2% APR increase in rewards on interest accounts when CLT is staked to the platform. For example, Staking 2,500 CLT in a CoinLoan wallet will enable an interest rate increase of 2%.
- Loan fee discounts. Paying for the loan origination fee in CLT tokens will cut the fee in half. The fee is typically 1.0% of the total loan but paying with CLT reduces it to 0.50%.
Creating An Account With CoinLoan
Creating an account on CoinLoan takes a few minutes and depositing fiat currency or crypto is free. The registration process requires a full name, email address, and set password. After verifying an email address, there is a mandatory identity verification process that requires an official government ID and a selfie picture to be uploaded.
ID Verification Requirements
CoinLoan requires KYC verification on all accounts before using any of the features. Users cannot deposit funds, apply for loans, trade crypto, or withdraw funds from CoinLoan without passing ID verification. This is in place to help prevent fraudulent and other criminal activity on the platform. CoinLoan uses a third-party partner to verify the documents which is very rapid and means users can access the full features of the platform without delays.
To verify an account, the following information is required:
- Legal name
- Home address
- Personal identification number (such as a social security number)
- Picture of a government-issued ID
- Selfie picture
Funding & Limits
CoinLoan supports funding directly on its platform using SWIFT and SEPA for fiat money or cryptocurrency deposits. There are no fees to deposit fiat or crypto onto the platform. There are no limits for crypto transfers to the platform which includes crypto purchases. There is a withdrawal limit that is capped at $500,000 per day. Crypto interest accounts require a $100 minimum deposit to begin earning interest.
There are withdrawal minimums for each crypto individually, and these are listed here. SEPA withdrawals require a 10 EUR minimum, and SWIFT withdrawals require a 5,000 EUR/GBP minimum.
Supported Coins
CoinLoan supports a small selection of 25 cryptocurrencies that can be used to borrow against to obtain a cash loan. For deposits into an interest-earning account, there are 25 supported assets which include major digital currencies such as Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), and a selection of the most popular stablecoins. However, CoinLoan does not support large-cap coins such as Binance Coin (BNB) or Solana (SOL) which is a negative.
CoinLoan Fees
CoinLoan does not charge any fees for depositing cryptocurrency or fiat currency on the platform. There are also no withdrawal fees for non-ERC20 tokens, though CoinLoan will allow one free ERC20 token withdrawal per month. There are no additional fees for trading cryptocurrency on the platform but there may be a spread included in the transaction.
CoinLoan earns money by charging interest on crypto-backed loans. Loans charge from 4.95% to 11.95%, depending on the crypto being borrowed and the loan-to-value amount. There is also a 1.0% origination fee on all crypto loans. Moreover, if the loan is liquidated, there is an additional 7% liquidation fee charged as well.
Mobile App
CoinLoan offers an intuitive mobile app for Android and iOS devices that can be used to borrow, lend, and exchange fiat into cryptocurrency. The app has a simple user interface that is easy to navigate and suitable for new users.
The CoinLoan app has an overall 4.4/5 star rating on the Android marketplace based on more than 300 reviews. There are a few user complaints about the limited selection of crypto but the majority of the feedback is positive.
Security of Assets
CoinLoan uses offline and multi-signature wallet infrastructure to protect customer deposits. In addition, encrypted parts of the private keys are held within banks' safe deposit boxes. This prevents access to crypto-assets and requires multiple people to access them. CoinLoan also requires two-factor authentication on fund withdrawals and logins to reduce the risk of fraudulent activity on user accounts. A full list of the security features can be read on the website.
Frequently Asked Questions
No, CoinLoan is not a wallet, but does act as a custodial service that holds user funds. Users that want to transfer funds on and off the platform will need to utilize their own digital hot wallet, or a hardware wallet to secure their assets.
CoinLoan insures digital assets under custody with a $100 million insurance policy from BitGo that utilizes policies from Lloyd’s of London.
CoinLoan is available in all countries around the globe, except those countries that are on national sanctions lists. This includes all 50 U.S. states, and over 150 countries worldwide.
CoinLoan is not a trading platform, but does offer basic exchange functionality to buy, sell, and trade cryptocurrency. It does not come with the bells and whistles of a traditional crypto exchange, such as charting and multiple order types. Investors that are looking to trade crypto with more features will need to elsewhere.
Final Verdict and Rating
CoinLoan offers an easy-to-use crypto lending service with loans as low as 4.95% APY which is competitive in the market. Users can also deposit crypto and earn up to 12.3% APY in interest per year. CoinLoan is easy to use with its intuitive mobile app and has a good selection of stablecoin loans and interest accounts.
While the overall crypto selection is smaller than some other lending platforms, the most popular crypto is available and can be used as collateral. Customer service was quick to respond to all inquiries over live chat, which was a very nice feature.
Overall, CoinLoan is a great lending platform but could be improved with access to more cryptocurrencies, the ability to make fiat-to-crypto purchases with a debit or credit card, and a change to daily interest pay-outs to maximize the compounding effect.
Review Criteria | HedgewithCrypto Rating |
---|---|
Features | 4 / 5 |
Supported Fiat and Deposit Methods | 3.8 / 5 |
Supported Crypto & Trading Pairs | 3.6 / 5 |
Fees | 3.5 / 5 |
Ease of Use | 4.8 / 5 |
Customer support | 3.8 / 5 |
Security Measures | 4.2 / 5 |
Mobile App | 4.3 / 5 |
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