How it works
STEP 1
You'll need a copy of your ID, 3 months bank statements, and proof of residence After submitting your application we will review your information and send you the loan agreement contract.
STEP 2
After sending us the signed contract we can begin processing the funds to your account we will provide you with a crypto wallet that you'll need to deposit your cryptocurrency used as collateral.
STEP 3
That's it enjoy your funds. We will use your collateral growth to pay back the interest on your initial loan as soon as the contract expires we give back your collateral
Definitions
LTV
Loan-to-value (LTV) ratios are used to assess lending risk by financial institutions and other lenders before approving a loan. At Cryptoloans we use a 70% LTV ratio, Which means that we Loan you 70% of your collateral's worth. Once the loan is settled we give you your crypto back. This means you can enjoy your money while your crypto still grows
APR
The Annual Percentage Rate (APR) is the cost you pay each year to borrow money, including fees, expressed as a percentage. The APR is a broader measure of the cost to you of borrowing money since it reflects the interest rate and the fees you have to pay to get the loan at Cryptoloans we try and use a minimum APR of only 5%.