First loan vs. repeat loans: how the rates work

CryptoLoan uses two rate tiers, and the difference comes down to one thing: whether you've repaid a loan with us before.

Your first loan

The first loan on any account is capped at $5,500 and carries 5% interest for the full 30-day term. So a $500 first loan costs $25 in interest — you repay $525 total, whether you repay on day 3 or day 29. There's no daily compounding and nothing else added.

Every loan after that

Once you've fully repaid a loan, your limit rises to $10,000 and the rate moves to 15% for the 30-day term. A $1,000 repeat loan means $150 in interest — $1,150 total due.

Why the first loan is priced lower

A first-time borrower is, by definition, unproven on this platform — we don't yet know you'll repay on time. Capping the amount and pricing it cheaper limits the platform's exposure while you build a repayment history, the same logic most short-term lenders use, just applied without a traditional credit bureau in the loop.

What stays the same either way

• One loan open at a time — you can't stack a second loan before the first is settled.
• 30-day term, always.
• No origination fees, no hidden charges — interest is the only cost of borrowing.
• Only one identity verification, ever — it doesn't repeat on later loans.

In short: repay once, and your limit roughly doubles while your effective cost per dollar borrowed goes up — a trade-off that makes sense if you need a larger amount next time, and one you're never forced into if a smaller, cheaper loan is all you need.

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