To start borrowing on CoinLoan, all you need is cryptocollateral to secure your loan. You can never borrow more than the value of your collateral. You can borrow at least 70% of your collateral’s value. Here is the list of coins you can use as collateral.
To get a loan, you have two options:
- You can go to the Lending Market and check what lenders are offering. If you find a suitable offer, you can accept it and borrow instantly.
- You can create a Loan Request on your terms in the Lending Market. In that case, you’ll need to wait for another user to accept your request. It may take some time depending on the conditions you set. The higher the interest rate, the more attractive it looks for lenders.
For more information on how to create a Loan Request, please follow the link.