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Statistics

Today 2017-11-24
Funds under control USD 187.0m
Online since 572 days
Accounts 3059
Asset managers 30
Running bots 20 + 7 Enhanced
Active loans (average) 26,649

New fee structure


2017-10-11
Dear Cryptolend user,

You will now be able to credit your Cryptolend account with a small amount, and the bot will soon charge a small percent of your earnings to keep running the service. We acknowledge that it’s a big change for you, and for us too. The main reason is that the project needs to grow. We will reinvest in development 100% of the benefits earned through this process, apart from the beer supply.

Up to now we have proposed a cheap Premium account subscription. This small fee allowed us to pay for the hosting service, but the time for development was not counted. We will remember this period of the project as an amazing and priceless experience.

The success of cryptolend is bringing us increasingly more users each day and we are very proud of this. Unfortunately, the scaling of the project and queries for support are running us out of time for developments. We have indeed a lot of feedbacks from users, and many good ideas to (1) widen the scope of the bot and (2) to enhance the frontend experience. But we have the feeling that these good ideas are always postponed due to a lack of time.

Our roadmap includes: Improvements and new strategies for margin lending (real iceberg support, spread funds into book depth, feedback loop optimization, ...), better advices during major events (fork, price and rate movements), complete Bitmex funding strategy with bases as USD or BTC, Asset Manager leaderboard, Cryptolend API for personal data access and public statistics, website translation, better experience with website: video and tutorials, rates page, rates alerts, direct input of settings. Numerous users suggestions are waiting their turns. Plus a feature that we can’t announce for the moment. And last but not least, keep answering support as best as possible.

We think that we are the best-in-class tool available and the cheapest of its category. Thus we hope that you will stay happy to play the game with us.

To thank you for your early support, if you had a Premium or Enhanced account before the change, your bot will be credited with the equivalent amount that you have paid.

In addition, we offer a big discount to all new users for the coming year. This discount will lower our fee, as we understand that this process is quite new to everyone.

FAQ


What if I have any question or remark ?
You can always contact us through various media. We will answer you as soon and as best as possible, and will update this FAQ with relevant questions.

What is the schedule for the change of fee structure ?
2017-10-11: Announcement and new interface
All membership status are frozen during the changing. If you planned to upgrade to the Premium account, simply credit your account with the new system and contact us.

2017-10-13: First billing
The bot starts charging for the service, but accounts don’t downgrade to Basic if your credits goes below zero.

2017-10-20: Full system
The bot starts downgrading accounts to Basic if your credits goes below zero and you are not on Novice plan.

How does the bot charge the fees?
The bot will not charge your account until at least the 2017-10-13.

You should credit your account with a small amount, then the bot will charge a small percent of your earned interest on a daily basis, out of your Poloniex and Bitfinex loans.

You need only to credit the deposit credits in one currency (we accept BTC, ETH and BCC). The bot will calculate and convert your fee to this currency. The change rate is processed from the average ticker price of the day.

When will the bot charge my account?
The bot will not charge your account until at least the 2017-10-13.

The billing is realized once per day, at about 11:00 UTC.

It is calculated out of the Poloniex and Bitfinex earnings of the day before.

How much will I be charged?
You will be charged 5% minus a discount* out of the interest you earned from Poloniex and Bitfinex loans.

For example, yesterday if you had 1 loan of 5 bitcoins at 0.02%/day, you should have earned 1mBTC. The bot will charge 3% of this value, which is 0,00003 bitcoins.

* We offer a 2% discount to all users, to thank you for your early support.

* We also offer an additional tiered discount for large funds holder. Please contact us by email or by pm on the slack channel.

Where can I see my remaining credits?
You can see your remaining credits in the Membership part of the dashboard. You can also click on the link “+ Bot credits” to get more details.

Can I see the history of fees charged?
To display your billing history: open your dashboard and click on the small timer icon besides your remaining credits.

What happens if my credits goes below zero?
Your account will be downgraded to the Basic plan. When in Basic plan, your bot cycle time is really slowed down, and you don't have full access to strategies and settings.

While Novice, your accounts will not be downgraded to Basic even if your credits goes below zero.

What are the different plans? Novice, Premium, Basic and Enhanced
Novice membership: As a new member, you have complete free access for 15 days and until you have earned $100 equivalent. During this time, your account will be charged for running the bot, but you will not be downgraded to Basic plan if your account credits goes below 0. You can then decide to credit your account or to give up our service as is.

When in Basic plan, your bot cycle time is slowed down to one polling per 2 hours, and you can’t modify the default strategies and settings.

Premium plan: If your bot has credits, your account is upgraded to the Premium plan. You get high bot polling speed and every settings and strategies are available.

Enhanced plan offers a faster bot speed. Please contact us for details and price.

Why are Quoine and Bitmex not charged ?
Our Bitmex funding bot is only a proof of concept for the moment. As soon as the planned improvements will be done, we will be happy to make you earn more money with limited risk, and to charge for the service!

Quoine Margin Lending is not working with the same rules than Poloniex and Bitfinex, so we decided to postpone the fees on this exchange. Please be careful when using Quoine lending, as your loans don’t have term maturity (no maximum duration).

Could you please refund my premium subscription?
When you paid for it we agreed to give you access to premium features for one year. It seems only fair to give existing premium user the option to opt out since we changed the terms of the agreement.

We will of course offer a prorated refund for users who decide to quit Cryptolend for real. Please contact us in private to organize the transaction.

Do you offer additional tiered discount for large funds?
Yes! Please contact us by email or by pm on the slack channel.

Comparison

Basic*
free
Novice*
free
Premium
bot credits
Enhanced**
bot credits
30 different currencies on 4 different exchanges
Dedicated lending data and charts
High level of security and privacy
Default strategy
High bot polling speed (1-2 minutes average)
Unlimited access to strategies and settings
Enhanced bot speed

* Novice = New members have complete free access for 15 days and until they have earned $100 equivalent.
** Enhanced membership: Move your account to a faster bot to avoid exchange API bottleneck issue, which slows down the bot sometimes. We make it available to members requiring an enhanced service. It may be beneficial, if you have a large amount of funds to lend, if you want us to renew offers and process your strategy even faster.

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