BitcoLoan Review: Crypto Lending Platform For Desperate Times

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Welcome to my BitcoLoan Review!

This is one of the latest platforms in Cryptocurrency that has caught my eyes.

Recently, there has been quite buzz around Cryptocurrency lending and borrowing. The main reason behind it is that it is super fast, reasonable interest rates and no credit or background check needed.

So if you are considering using BitcoLoan to lend/borrow some crypto, make sure you read this post till the END.

I am going to go to the details of BitcoLoan company, products and its legality.

BitcoLoan Review (Company)


BitcoLoan website looks pretty nice and professionally designed. It is easy to use and navigate around which is always a good thing. One thing that it lacks though, is that there is no information about who runs or owns the company on ``.

In addition to that there registration wasn’t easily available on their website. As usual these problems doesn’t stop me from doing my research, so went to to check ‘’ domain registration.

BitcoLoan Domain

As you can see, has been privately registered on July 2020 and been recently updated on October 2020. Also the domain/server seems to be in Denver, Colorado USA. No further detail was available.

Another piece information that I found, which was quite interesting, was BitcoLoan Alexa Rank and traffic. As you can see from the image below, currently ‘’ ranks 55,405 and they got most of their traffic from Iran. The rank is pretty good considering that the domain is just few months old. This alone means that they are getting quite a lot of traffic, which equates to lot of money coming in and out of the platform.

BitcoLoan Rank

After a bit of digging I was able to find their company number and get their UK registration from the UK Companies house.

Based on their registration, ‘BITCOLOAN LTD‘ has been incorporated on ‘9 December 2020‘ as a ‘Private limited Company‘ and their nature of the business is ‘Activities of investment trusts’.

Checking the ‘People’ section in the registration, there is a person called ‘LESTER, Mark‘ who seems to be the director of the company, however I wasn’t able to find any digital footprint beside the Companies House registration to connect him to BITCOLOAN LTD.

BitcoLoan CEO

BitcoLoan Reviews (Products)

BitcoLoan doesn’t have any retail-able products per-say. They do say they have 2 products which are Lending and Borrowing platform that they have, but when I say product/service, my main intentions are the products/services that you can sell to someone, real customer.

You can join them deposit money (cryptocurrency) and start lending or borrowing, or you can become an affiliate and start promoting BicoLoan Affiliate membership program.

BitcoLoan Review – Compensation Plan

As an Investor in, you can choose between the 2 investment programs that they offer. The term deposit for both are open-ended and can be from 30 to 90 days.

Compensation Plan No 1

  • Profitability: from 0.6% to 0.9% per day
  • Investment period: 30-90 days
  • Deposit size: from $10
  • Breakeven exit: at the end of the term

Compensation Plan No 2

  • Profitability: from 1.1% per day
  • Investment period: from 180 days
  • Deposit amount: from $50
  • Breakeven exit: from 91 days

You are able to give loans to legal entities only in the second plan, which means you need to have a higher minimum deposit.

BitcoLoan Affiliate Membership

BitcoLoan affiliate membership is your typical uni-level structure.

Uni-level structure is shown in the diagram below:


Uni-Level referral program starts with you at top, then whoever you personally recruit are going to be your Level 1 recruit.

After that, whoever your Level 1 recruits is going to be your Level 2.

This basically goes down an infinite level as it’s illustrated in the above image.

BitcoLoan caps it to 3 levels.

  • Level 1 (personally recruit): 8%
  • Level 2: 4%
  • Level 3: 2%

BitcoLoan Review Withdrawal

Here are some details and info that I found on the BitcoLoan website in regards to account/deposit/withdrawal.

  • Deposit limits: from $10, the maximum amount has no limits.
  • Accept payments: Tether USD, BitCoin, BitCoinCash, Eth, LiteCoin, Dash, Doge.
  • Commission for transactions in the project: none.
  • Minimum withdrawal: from $0.1 (in the equivalent of cryptocurrencies).
  • Profit withdrawal: instant.
  • If you fail to repay the loan on time, the loan is automatically extended for 12 months and is active until yoΠ³ fulfill all financial obligations.
  • You can top up Bitcoin and Ethereum accounts with all available cryptocurrencies, such us: Bitcoin, Litecoin, Bitcoin Cash, Dash, Ethereum, Dogecoin, Monero, Tether, Zcash.
  • The provided 3 accounts are not interconnected; all financial transactions can be carried out separately. Each of these accounts has its own characteristic and supports a certain currency.

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Cost To Join BicoLoan

It is free to join BitcoLoan. You can simply go to website and create a free account, however if you want to join any of the program and start earning passive income you need to at least deposit $10 USD.

Similar companies I did a review on:

Now that I have went through all the details about BicoLoan it is time for my unbiased third party verdict.

Final Verdict

So is BicoLoan Scam or Not?

At this point I can’t say for sure that if they are legit or scam, however I don’t trust and here are my reasons.

Firstly, I don’t know who runs or owns the company and where they operate from. This is a big red flag for me.

In addition to that, they only have UK Companies House registration, which is not enough since they are operating in financial sector. They do need valid registration from financial regulators such as FCA.

Furthermore, I can’t see where they make their income, I believe they would get a portion of the interest rate but I wasn’t able to find that out on their website. Not showing how they make their income is a bit worrying to me too. Cause if you don’t know how they make money, then how could you be sure that they are able to pay you those rates?

To be honest, it seems like a pretty good and decent idea and it looks way better and easier of getting loan from a bank (if you do need a loan), but it looks too good to me to be true and it also lacks all those other things that I mentioned above.

I hope you enjoyed my BitcoLoan review, Please make a comment below if you have any question or suggestion.

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This BitcoLoan Review Article isn’t aimed at defaming BitcoLoan nor is it targeted to promoting them. 

This article is strictly for enlightening purposes and a honest guide from my perspective because I strongly believe every brand needs a good 

Therefore, you are at liberty to accept or reject this article and act base on your own perspective of the platform. You are encouraged to share your own opinion or views about the platform with me via the comments box below so as to further improve this BitcoLoan review.

I get commissions for purchases made through links in this post.

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