New service release: Coincheck Lending
Coincheck Lending service is resuming on June 16, 2017.
Coincheck Lending is service where Coincheck users can earn extra cryptocurrencies by lending cryptocurrencies to Coincheck. Users can select preferred deposit terms.
Terms and Yearly Rate（tentative）
|14 days||1% /year|
|30 days||2% /year|
|90 days||3% /year|
|365 days||5% /year|
e.g. ) If you deposit 10BTC with a 3% of annual rate, you will earn [10BTC] × [0.03] × [90days] ÷ 365 = 0.0739726BTC.
■About Coincheck Lending
1: Open a Coincheck Lending account
2: Deposit cryptocurrency of your choice to your account, and apply for lending.
3: Coincheck screens an application, and grant permission to start lending.
-Coincheck Lending is not subject to Payment Services Act. Hence, lent cryptocurrencies are not managed as segregated funds.
-The price of cryptocurrency is always fluctuating. The price when you lent cryptocurrency and price when you sell is different. Please be aware there’s always a risk.
-To use Coincheck Lending, please note that user must agree with the consumption loan agreement, which is an unsecured contract. Hence, users have a risk not being able to receive lent cryptocurrencies in a case when Coincheck bankrupt.
-Users are prohibited from selling or sending lent cryptocurrencies until the end of a term or when Coincheck decides to return it.
-This service is not a deposit item, it is not subject to deposit insurance.
-Lending service is available to approved applicants only.
-There is an upper limit to the total amount you can deposits. Lending is not guaranteed.
-Lending may be terminated earlier than user’s preferred term. In this case, prorated yearly rate will be paid.
-Interests are paid at the end of fixed term as cryptocurrency you’ve lent.
-All cryptocurrencies that are listed on Coincheck is supported. (June 16, 2017)
-Supported cryptocurrencies may be changed without notice.
Coincheck is one of the largest Bitcoin and cryptocurrency exchange/payment processors in the world. We aim to make people’s lives better with technology.