A short-term loan (7 - 30 days) must be repaid with a single payment. A long-term loan (2 - 36 months) must be repaid every month (according to a repayment schedule).
We’ll send you Payment Reminders to inform you about an upcoming payment due date according to your repayment schedule. In case your payment is not received on the due date, we’ll be forced to liquidate a part of the loan collateral.
The repayment should be made in the fiat currency or stablecoin in which the loan was taken. To deposit some money to your CoinLoan wallet, open My Wallet tab on the left-hand menu and scroll down to fiat currencies. Currently, the lender can provide loans in USD, EUR, GBP, RUB fiat currencies and TUSD, GUSD, PAX and USDC stablecoins.
You can deposit fiat currencies to the Platform using an international transfer (SWIFT, SEPA), or via a bank card. Here is our blog post on how to do it. Stablecoins can be deposited as any cryptocurrency. Press the Deposit button, specify the amount of deposit and send your crypto from your private outside wallet to your CoinLoan wallet.
You can also buy EUR, TUSD, and USDC on CoinLoan Crypto Exchange.
- Open My Loans and move to Borrowing tab.
- Click on Repayment button.
- Look through Repayment Confirmation and click on Confirm Repayment button. Done!