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Bitcoin Backed Loans

Ross
Ross
  • Updated

THIS FUNCTIONALITY IS CURRENTLY ONLY AVAILABLE FOR ISLE OF MAN BASED USERS.

 

Users are now able to take out an asset-backed loan from within their CoinCorner account using the bitcoin holdings in their account as collateral. These loans can be taken out for as low as £1000, and the maximum loan amount that can be taken is £100,000, with a fixed origination fee of £2.

Unlike most lenders our loans have a fixed interest rate of 5.5%, and users can borrow up to 50% LTV (loan-to-value).

Users can take out multiple loans on the same CoinCorner account if they wish, and can select the repayment terms themselves to pay it back over either 12 or 24 months with options to pay off the loan early with no early settlement fee if they want.

 

You can find a guide on taking out a Bitcoin Backed Loan here.

 

Have any questions? Get in touch!

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