CoinLoan, a pioneer in cryptocurrency-backed lending, has announced the addition of a new feature: immediate partial loan repayments. Customers who borrow against crypto assets may repay their debts in a variety of ways and without incurring extra costs. The interest-only approach is applicable to both existing and new consumers. They may return as much or as little as they like in the currency in which their loans are priced. CoinLoan is the only supplier of crypto goods licensed in the European Union, and this distinction represents a significant advancement for crypto asset management.
The functionality has been included into the company’s online platform and will soon be available in the company’s mobile application. CoinLoan is the first cryptocurrency lending platform approved in the European Union. It was founded in 2017 and offers individual and business customers with crypto-backed loans, interest accounts, and crypto exchange.
All assets are insured, and strong bank-grade security measures ensure that each user is protected to the fullest extent possible. Previously, CoinLoaners had two repayment options: a predetermined installment plan or early payback in whole. The new strategy takes into account client preferences. It displays the company’s commitment to continuous user experience enhancement.
In comparison to other loan services, CoinLoan offers unmatched flexibility. The majority of its competitors charge borrowers a hefty penalty for early repayment. Borrowers may now choose how much or how little they pay each month without fear of incurring fines. This level of flexibility is comparable to that of bank loans. Customers may handle their funds more prudently by making partial repayments.
Evgenii Zomchak, CoinLoan’s Product Owner, stated: “We are delighted to be able to provide this new lending function to our consumers. We are always looking to enhance our product for the benefit of the user and the broader crypto community, and this development will provide additional repayment options for our loan clients. CoinLoan’s staff has decades of combined expertise in finance and technology on a global scale, and we want to deliver bank-grade services to the cryptocurrency market.”
CoinLoan is the only cryptocurrency platform approved in the European Union. Its functioning is multifaceted: it offers loans against cryptocurrencies in addition to interest accounts with a higher-than-average annual percentage yield and currency exchange services. Clients on an individual or business level benefit from bank-level security assurances.
