We are here today to represent a significant milestone for the whole crypto community. CoinLoan is the first on the market to start accepting deposits via Visa and MasterCard! For users, it means flexibility you’ve never seen before in the crypto-backed lending.
CoinLoaners are now able to use their debit and credit cards of almost every bank of the world to deposit fiat funds. The platform will initially allow using cards for deposit EUR only.
Nevertheless, it is possible to deposit EUR from any card, in any currency. The system will automatically convert your funds into EUR according to your local bank exchange rate.
In the nearest future, we’ll make it possible to deposit and withdraw all the fiat currencies with the use of cards. It should be recalled that on CoinLoan EUR, USD, GBP, and RUB fiat currencies are available.
Here’s Why It’s Important
The interaction between fiat and cryptocurrencies is a pain point for all the community. Accessibility of the credit card payment method seems an essential step towards addressing the issue. It allows users to access investing and borrowing against crypto in the easiest and the fastest way possible, with no obstacles.
How It Works on CoinLoan
To start moving your money, open My Wallet tab, find EUR and click on the Deposit button. Choose the Visa/MasterCard payment method.
The system will ask you to add your card first. So scroll down and click on the Add New Card button. You’ll get to the Card Manager tab where you can add a VISA or MasterCard and use it as a deposit or withdrawal method.
CoinLoan will subtract a small pending charge to your payment card. To confirm the ownership of the card you need to enter the exact amount of this transaction in EUR into the field below. This charge will be automatically refunded to you.
Next, we’ll ask you to provide a selfie with the card for verification purposes. It’s a final step, after that it will take some time to approve your verification. Usually, it takes up to 24 hours. You will receive an email notification when everything is ready.
Once you’re done with verification, come back to My Wallet and start depositing.
Now depositing EUR to the CoinLoan platform is the easiest thing in the world. Perform your transaction with just a few clicks. You will receive an email confirmation once your transaction is approved.
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