Is someone using CoinLoan?
I would like to lend some FIAT but I don't see any guarantee/insurance on their website, I contacted them and just got a basic answer:
"Our site is very safe and even if we will close down, we will return all your money to you with the interest."
But they don't tell HOW they can pay you back if the borrowers disappear and the crypto value falls, also they don't tell what will happen if a hacker take their assets, no guarantee at all.
Hello!
Thank you for your interest. We use our own secured solution. We found BitGo a bit complicated and way too unsecured.
Borrowers are putting collateral first, before they take a loan. So if something went wrong (volatility or missing payment from borrower) we cover all risks with borrowers collateral. We haven't been hacked since the platform started. We are thinking how to increase confidence at the moment, soon you'll see a big publication about security from ourside.