How do I borrow from CoinLoan?

To begin borrowing, the first step is to choose your assets. This process allows for flexibility as you can borrow in various forms including crypto-to-crypto, crypto-to-fiat, and fiat-to-crypto.

The second step involves selecting the parameters of your loan. This includes determining the loan term, which is the duration you have to repay the loan. Additionally, you need to specify the collateral amount, which is the value of assets you are willing to put up as security, and the LTV, which stands for loan-to-value ratio.

Along with the loan term and collateral amount, you must also indicate the amount you wish to borrow. This will help in calculating the interest rate and other associated fees.

Once you have chosen your assets and selected the parameters, the third step is to submit your request. This is a straightforward process that can be completed within a minute.

The approval process for loans is automatic and instant. This means that you will receive a response immediately after submitting your request, without having to wait for a manual review.