Lending Service Review: Instant Loans, Rates, Pros and Cons - Coindoo lending Lending Service Review: Instant Loans, Rates, Pros and Cons

Editorial Team Avatar
Mar 12, 2021
5 min reading time Lending Icon Lending
Our Rating
User Rating

There is a growing market for cryptocurrency lending as the crypto industry develops at a rapid pace. One of the companies offering this service is the exchange. In this article, we will review Lending to see the quality of their services, as well as their strengths and weaknesses. Lending: Overview is a cryptocurrency trading platform headquartered in Hong Kong. Launched in 2016, the exchange is known for its maximum compliance with regulation. It has so far obtained several unique security certificates, the first being the Cryptocurrency Security Standard (CCSS), ISO 27001:2013, ISO/IEC 27701:2019, and PCI: DSS 3.2.1 (Level 1). You can also find out more about the features of this exchange in our review.

In line with its goal of promoting the use of cryptocurrency in everyday life, the company launched the Lending service. With Lending, customers can get an instant loan with a flexible payback system. They can obtain Loans using any of CRO, LTC, BTC, ETH, XRP, USDC, USDT, VET, LINK, and DOT as collateral. Borrowers can pay back loans partially or in full within a period of 12 months.

The loans have a high Loan-to-Value (LTV) ratio, making them very attractive to those who hold the required assets as collateral. LTV is the ratio of the borrowed amount to the value of the collateral in USD. This is continuously calculated and updated for the loan you take until the day you pay back the full amount with interest. The disadvantage of the high LTV is that the interest rates and fees will be high because of the risk the lender is taking.

Lending Terms and Requirements

The following are conditions and requirements that users need to meet to access Lending services:

User qualifications: customers will have to complete advanced level verification to qualify for the lending service. Also, members from some restricted countries are not able to access the service because of local regulations.

Supported cryptocurrencies: Loans can be taken in USDC, USDT, BTC, ETH, XRP, and LINK, while CRO, LTC, BTC, ETH, VET, LINK, DOT, XRP, USDT, and USDC can be used as collateral. More assets are added from time to time, so watch out for new ones.

Minimum loan amount: The minimum amount that can be borrowed must be equivalent to $100 at the time of taking the loan.

Maximum borrowing limit: The maximum borrowing limit depends on a number of factors, one of which is the type of account holder. For retail users, the maximum limit is $500,000. Institutions can borrow up to the equivalent of $1 million, while institutions with Lending Pro can borrow up to $2 million. Note that customers can have up to 3 outstanding loans, and the cumulative amount is what adds up to the maximum amount in USD.

Loan terms and periods: The loan term is for 12 months, during which the borrower can pay back any amount at any time. The term expires a day after the date the loan was taken the previous year.

How to Borrow a Loan Using Lending

To take a loan, log in to your account. On the dashboard, go to “Lending,” and then to “Loans.” Afterwards, you just need to click on “Start New Loan” to apply. You are only allowed to take a loan in a single asset at a time as multiple asset loans are not supported at the moment.

You can take up to 3 loans if you do not meet the requirements to do so. It is worth mentioning that you cannot access another loan if:

  • You have exhausted the 3 loans you are entitled to;
  • Your outstanding loans are on Margin Call;
  • Your outstanding loans are under Forced Liquidation;
  • The total amount you have borrowed exceeds the maximum limit for your kind of account.

How to Withdraw Crypto Assets Borrowed Using the Lending Service

Crypto assets borrowed using the Lending service can be withdrawn from the exchange spot wallet to the app account or a whitelisted wallet address.

Interest and Repayment

Interest on loans are fixed depending on the initial Loan-to-Value at the time of taking it. They add up at the end of every day based on the outstanding principal amount borrowed. The higher the LTV, the higher the interest rate, which ranges from 2% per annum for 25% LTV to 8% per annum for an LTV of 50%.

Any repayment made will include the principal and the interest, and payment must be made in the same asset borrowed.

  • The loan principal repayment is as follows:

Loan Principal Repayment

= (Outstanding Loan Principal ÷ Outstanding Balance) × (Repayment)

  • The Loan interest repayment is as follows:

Interest Repayment

= (Outstanding Interest ÷ Outstanding Balance) × (Repayment)

For more details on the calculation, visit the loan interest and repayment page here.

Loan Monitoring and Management

You can always monitor your loan by logging into your account and selecting Loans and the Loan History. There you will find details of your loans, including borrowed amounts, interest, repayments, margin calls, and liquidation history. Lending: Verdict Lending is an innovative way to bring cryptocurrencies into lending. The loan amounts are quite generous, and the loan term of 12-month is a convenient time to pay back to ensure customers are not stressed during the payment. Overall, this is a good lending service that customers can take advantage of to grow their businesses or investments. Lending Service: Pros and Cons


  • Generous loan amounts available;
  • Long loan term of 12 months;
  • Up to 3 outstanding loans allowed.


  • Only customers can access loans;
  • You cannot borrow in multiple assets.
User Rating
( No rating )
* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
Press Releases