The CoinLoan Interest Account works similarly to a bank savings account. You deposit funds and start getting interest.
What assets are available
Here is the complete list of currencies available for earning interest on Interest Account:
Crypto: BTC, ETH, BCH, XRP, WBTC, BNB, XLM, PAXG, DOT, LINK, LTC, XMR, ADA, SOL, and MKR
Stablecoins: USDT, USDC, PAX (USDP), TUSD, BUSD, and DAI
Other currencies: EUR, USD, and GBP*
*When you deposit EUR, USD, or GBP to Interest Account, your funds are automatically converted into stablecoins on which you earn interest.
You can have multiple assets held on CoinLoan’s Interest Account simultaneously. We have no limit on your earnings.
What is the minimum deposit amount for each asset
We have a minimum Interest Account deposit amount for each asset. Please see the list of assets and their minimum deposit amounts in our article.
Note: If you deposit a minimum amount of the asset and then withdraw a part of it, making it less than the minimum required amount, interest won’t be accrued.
Interest Account deposits and withdrawals
You need to deposit some funds to start getting interest. See our guide on depositing assets to Interest Account for more info.
As for funds withdrawals, check our guide on withdrawing assets from Interest Account. We have no early withdrawal fees or penalties.
How much interest I will get
The rate you see on the platform is APY (Annual Percentage Yield). You obtain APY in full if you hold an asset on your Interest Account and don’t make any withdrawals within a calendar year.
If you hold funds for less than a year, we sum up all the scheduled Daily Accruals and credit aggregated interest to your Interest Account balance. Then we calculate further daily accruals based on the new balance of your Interest Account. This combination of monthly earnings gives a compound effect.
To learn more, please refer to our article about the different calculation formulas we use.
You can see all the Interest Account related transactions in the Transactions section of the Interest Account tab. There you can see deposits, withdrawals, and accrued and credited interest. Daily accruals will show up in Transactions every day at 14:00 UTC but will remain in the pending status until credited on the first day of the month at 15:00 UTC. Then all daily accruals will change their status to Complete.
Interest Account transactions — Web platform
Interest is credited to your balance on the first day of each month you can see in your wallet. With every month passing, you will see your interest grow, and each future month’s interest will be calculated based on the previous one.
How CLT Staking works
The staking mechanism calculation is fixed. Interest rates in the Interest Account increase by 0.1% with every 125 CLT you hold:
125 CLT raises your Interest Account rates by 0.1%
375 CLT — by 0.3%
1,000 CLT— by 0.8%
1,250 CLT — by 1%
2,500 CLT — by 2%
The maximum bonus is 2%. Having more than 2,500 CLT won’t affect your interest rates anymore. Read more about staking here.