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With 2-Step Verification, you’ll protect your INLOCK account with both your password and your phone.
Signing in with 2-Step Verification is easy.
- Go to the sign-in page and enter your username and password like you normally do.
- Then you’ll be asked for a second verification step, like a six-digit code or a prompt, which you’ll receive from Google on your phone.
If you set up 2-Step Verification, you can use the Google Authenticator app to receive codes even if you don’t have an Internet connection or mobile service.
Authenticator app 2FA codes are based on time and thus require the time on your phone to be in-sync with the official time.
If your phone’s time is out of sync, or if you have changed time zones, the best way to fix it is to change the time settings on your phone from “Manual” to “Automatic”.
On iPhone
Go to the Settings app -» Select General -» Select Date & Time -» Enable Set Automatically
On Android
Go to the Settings app -» Select General Management-» Select Date & Time -» Enable Automatic date and Time
If you see two positions for your INLOCK account in your authenticator application, please check which one is working and delete/remove/hide the other one.
If you still require assistance, please email our support team at support via inlock.io
Depending on the problem, we might have to disable the 2FA on your INLOCK account.
Please note that due to security reasons, we will require you to provide us with specific personal information. Only after that, we will be able to disable 2FA authentication on your INLOCK account.
Please send an email to our support team at [email protected]inlock.io
All cryptoassets are stored on cold multi-signature wallets with distributed key storage. This is an industrial grade solution to prevent any misuse of funds on a technological level.
Security Reminder: check the URL you are visiting and enable 2FA. Do not disclose your password or make transactions with anyone claiming to be INLOCK employees.
Security checklist
Make sure you are visiting prod.inlock.io to prevent any phising attacks. Only download mobil app from official app stores!
Never install any browser plug-ins that claim to be associated with INLOCK.
Never share any personal account details to anyone that claims to be an INLOCK Support Representative.
Never tell your password or 2FA codes/keys to anyone, including INLOCK Support.
Never send funds to anyone claiming to be a member of INLOCK Support.
Since mid of 2020, on INLOCK platform the 2FA (two-factor authentication) is mandatory to register new withdraw addresses and to perform secure login. We advice our customers to use 2fa protection in any case! We also advise using only the official Google Authenticator or Authy application to store and proceed 2fa code generation.
Email-based security, temporary lock and forced account lock
INLOCK platform generates email warnings from security events, for example: password reset, disable 2fa or temporary account lock after 5 invalid login attempts. In these emails, you can find a “LOCK ACCOUNT” button, to close your account until you can reach out INLOCK support.
INLOCK is a Savings Account service for cryptocurrency owners.
The platform offers Savings Account and Loan services for their Clients. Users of the crypto wallet can receive interest yield while providing liquidity for the borrowers, all of these without any commitment or restriction. The interest is credited on a daily basis and paid on a weekly basis. The interests published by the platform can be understood on a full year term.
Borrowers can take out loans from an overinsured cover. INLOCK supports multiple types of cryptocurrencies, like the popular Bitcoin or Ethereum, but the USD and gold-based stable coins also play an important role. The platform is fully automated and operates in its current form since 2018. Given the automatic collateral management, INLOCK can guarantee that lenders will reobtain their money.
INLOCK’s platform places a strong emphasis on the security of the system. The platform was launched by cybersecurity experts and it proved to be successful at an extensive IT security and process examination in the summer of 2020. The platform handles the client assets, which are stored in a high-level security system provided by Fireblocks. It was audited by Ernst & Young, one of the largest auditor companies in the world, and received the SOC 2 Type II certification.
By using the Saving Account service, our Clients can acquire a significantly higher interest income beyond the basic interest, if they possess the platform’s proper token as well (ILK token). The ILK token is in circulation since 2018, its security was tested by the auditor company CoinFabrik, and was traded in more than 100 million USD value in different exchange markets up to this day. Our Clients needs to own a predetermined amount of token (25 thousand, 100 thousand or 1 million) to reach the significantly higher interest.
The web application of the INLOCK platform can be reached at the www.inlock.io site together with the mobile application.
The INLOCK token (ILK) is a standard ERC20 utility token. It runs on the Ethereum network.
The Total token Supply is: 4.400.000.000 ILK
Token address: 0xf784682c82526e245f50975190ef0fff4e4fc077
Token Symbol: ILK
Decimals: 8
You can check the circulating supply on our Coinmarketcap profile page on https://coinmarketcap.com/currencies/inlock/
Our clients automatically receive interest on the cryptocurrencies stored in their Savings Account!
Clients can deposit and withdraw cryptocurrencies anytime and any amount in the INLOCK Savings Account and they can expand their balance anytime, while the new balance is automatically added to the Savings Account.
To access the platform, enter the prod.inlock.io website or the INLOCK mobile application, where you will find the deposit option for that cryptocurrency. Please copy the blockchain address offered correctly for the transfer, paying attention to the lower and uppercases, otherwise, the transferred amount may be lost forever. If you have any problems with the transfer, please contact INLOCK Support, where our colleagues are at your disposal. It is important to only deposit cryptocurrencies to those addresses which were generated for that purpose.
Interest is accounted for daily and credited on a weekly basis, of which we send notification emails. Interest is paid in the same currency as the one stored in the Savings Account by default, except if the client particularly asks for receiving the weekly paid interest in ILK tokens.
The amounts deposited in the Savings Account starts to carry interest from the first full day.
In case of withdrawing, interest can be credited after cryptocurrencies stored in the INLOCK Savings Account until the last closed day. Interest is paid on a pro-rata basis. Interest periods start every Wednesday at 0:00 AM and ends on the following Tuesday at 23:59. We publish the valid interests for the given periods a day before (on Tuesday) in newsletters and on our social media channels. The credited interest produced on the given week also continues to carry interest!
The interest rate for a given period may differ slightly each week. Regarding the extent of the change, INLOCK is not bound by any framework, but it seeks to ensure that the extent of the change does not exceed 25-30 basis points.
The overview mode can help you get accurate information about the total balance of the Savings Account converted to USD, including the previously earned interest and the pending interest already accounted for the current period!
Using the INLOCK Savings Account is free of charge.
The interest rates indicated for certain crypto assets are valid for one year of continuous placement. These interest rates may vary by clients, depending on how big is the amount of ILK token they store in their accounts. The ILK token is the proper, native token of the INLOCK platform, and owning them comes with several benefits. One of the most prominent is receiving higher interest. To reach higher interest rates, clients must own at least 25,000 ILK. In this case, the amount of interest paid weekly on the published interest rates increases by 5%. This increase in volume is 12% for owning 100,000 ILK and 20% for owning 1 million ILK. INLOCK reserves the right to change, introduce or cancel new levels of the three fixed amounts of bonuses listed above. However, in all cases, must inform clients in advance.
How can the extra interest of the ILK token be calculated in the case of USDC?
(specific example)
1000 USDC was transferred before the given period and the base interest rate for the given period is 8%.
If the customer does not have an ILK token, they will earn an average of ~ 1,538 USDC interest per week.
If they have at least 25.000 ILK tokens, they will be entitled to get a 5% increase in interest, so they will receive ~ 1,615 USDC interest weekly on average.
If they have at least 1.000.000 ILK tokens, they will be entitled to get 20% more of the interest, which means they will receive 1,845 USDC weekly on average.
You can reach us via live chat or email mostly between 08:00-21:00 CET. Occasionally we process the requests outside the opening hours as well, but we can not guarantee this.
Contact the [email protected] email address for reaching out to the colleagues of the platform.
You can buy it on Inlock.io and Liquid.com
Please be careful with other exchanges, there is no guarantee to get back your deposits.
Using the Savings Account is free of charge.
However, withdrawal fees differ by cryptocurrencies (see transfer fees:https://inlock.io/faq-items/what-are-the-withdrawal-fees/)
You can reach us via live chat or email mostly between 08:00-21:00 CET. Occasionally, we process the requests outside the opening hours as well, but we can not guarantee this.
For support questions, you can contact us directly via [email protected] or live chat.
Our Clients need to accept INLOCK’s Terms & Conditions and the Privacy Policy.
They have to declare that they are acting on their own behalves and are actual proprietors of the INLOCK account, as well as the person has to be an adult and habitant of a tax resident country which cannot be one of the followings:
Afghanistan, Algeria, Bosnia and Herzegovina, The Bahamas, Barbados, Botswana, Cambodia, Ghana, Guyana, Iraq, Iran, Jamaica, Mauritius, Mongolia, Myanmar/Burma, Nicaragua, Pakistan, Panama, Syria, Lao PDR, Syria Arab Republic, Uganda, Vanuatu, Yemen, Ethiopia, Sri Lanka, Trinidad and Tobago, Tunisia, Zimbabwe, Democratic People’s Republic of Korea (DPR Korea).
It is required to declare if the Client is a politically exposed person. A natural person who plays an important role in public duty (or has played during one year prior to the registration) qualifies as a politically exposed person.
INLOCK handles cryptocurrencies solely, therefore the Client has to take note that they are only able to deposit those cryptocurrencies that are accepted on the platform.
For more information please visit our site https://go.inlock.io/token
The INLOCK platform provides Savings Account and Loan services to its clients. Users of the crypto wallet can earn interest income while providing liquidity to the borrowers, all this without any commitment or bound.
Borrowers can take out loans on overinsured collateral. The platform is completely automated and operates in its current form since 2018. Thanks to automated collateral management, INLOCK can guarantee that every lender will get their money back.
The produced interest of the INLOCK Savings Account generally comes from lending the crypto assets to institutional players in the short or medium term, but with a fixed callback. INLOCK maintains a daily supply in case of all crypto assets, which helps us handle the expected withdrawal demand. This supply is significant in Bitcoin, Ethereum and the stable coins (above 25.000-50.000 USD), however, it is lower in case of other assets. When a client wishes to withdraw an amount of coins so high, we don’t have an own supply for, the withdrawal happens by manual approval and a liquidity expansion begins as part of which the given asset is recalled from one or more partners. The processing time takes about 1 or 2 hours although our contract allows 2 business days. Since most of our partners are located in the USA and Singapore, time delays and holidays can affect the waiting time. In case of more than 98% of the withdrawals, the platform is able to handle them automatically from the internal reserves within 10 minutes.
When the value of the crypto used as collateral is falling below 105% of the loan amount, INLOCK’s “collateral manager” system automatically sells your collateral and pays back the loan from it.
The borrower can choose not to pay back their loan on time, but in this case, the required amount terminates to repay the loan and the remaining collateral is credited to the client’s account.
It is also possible for the client to ask for a termination themselves. The system automatically sells the part of the collateral which is needed to repay the loan in this case.
Yes, the INLOCK Token Smart Contract was audited by Coinfabrik.
More info at Coinfabrik’s page: https://blog.coinfabrik.com/inlock-token-sale-audit-report/
Feel free to reach the INLOCK staff via [email protected]
For support questions, you can contact us directly via [email protected]
If you have any GDPR questions, please contact us via [email protected]
When you login for the first time, you must enter your email address and confirm it by clicking the verify button in the reply email. You also have to verify your telephone number by giving the code that you received in SMS.
Certain services can only be used after getting through the whole client identification process. These include Token market, loan borrowing function, and withdrawing cryptocurrencies from the platform.
The maximum loan amount is determined by the available collateral of the borrower and their selected LTV level. (LTV: Loan-to-Value).
For identity verification, you will need your ID, driver’s license or passport.
To reach a higher customer identification level (with more functionalities), you need to prove your residential address, create a selfie with your ID and a paper with INLOCK & the date written on it.
Users of the INLOCK Lending Platform (https://prod.inlock.io/login) can freely decide on their finances anytime.
INLOCK is paying interest for their Clients after cryptocurrencies stored in the INLOCK Savings Account, all in a fully guaranteed assured way.
Cryptocurrencies stored in the Savings Account are becoming liquidity for the borrowers on the platform. Clients of INLOCK can be lenders (as a customer of INLOCK Savings Account) and/or borrowers at the same time.
INLOCK is the perfect solution for those cryptocurrency owners who struggle with short-term liquidity problems but also don’t want to sell their cryptos. Once the cryptocurrency has been deposited, the loan amount will be credited immediately by accepting the offer.
-no credit check
-no credit rating
-no waiting time
Every loan agreement is overcovered, which means the value of the assurance must be greater than the actual debt. If the value of assurance falls below the required level, the automated collateral management function terminates the assurance and reimburses the loan.
Clients can handle their loan agreements in several ways:
– They can deposit or withdraw cover
– They can repay partially or entirely, completely free of charge, or
– They can terminate their agreement, in which case the loan should be repaid at the expense of the cover.
The system sends a warning message to the borrower if there is a decrease in the value of the cover.
Loans can be taken out exclusively in USDC stable coin which has a value linked to the USD exchange rate.
USDC token is supported by most of the currency-exchanges and can be easily exchanged for national currency (fiat money).
When borrowing under $1000, a simple customer verification is required. You only need to specify your email address during registration. You also need to set up a two-factor authentication (text message or google authenticator) to add your withdrawal address(es).
We highly recommend to set two-factor authentication for login attempts as well!
The INLOCK staff strives to complete client verifications as quickly as possible. During working hours, the process takes about 20-30 minutes, but in special cases, it can also take more than 24 hours. The lead time can be significantly reduced if the customer uploads documents with decent quality that are fully visible and glare-free. When uploading a selfie, it is especially important for the client to hold a sheet of paper that has INLOCK and the date of that day written on it, besides also holding the document used for identification.
There is no minimum amount, any small amount can be placed in the INLOCK Savings Account, however, interest is only credited if the weekly interest rate for that given crypto tool or stable coin reaches at least 0.01 UDS (1 cent). The weekly interest less than this will not be credited by the INLOCK platform.
INLOCK platform accepts BTC, ETH, LTC, BAT, and BNB cryptocurrencies as collateral, as well as ILK tokens.
We work constantly to increase the supported collateral assets.
The following reasons can lead to the closure of your account:
INLOCK is obliged to refuse the fulfillment of your errands and to exclude you or suspend your account in case you violate our policies:
– you are maintaining an account on behalf of somebody else,
– maintains and manages multiple accounts,
– uses illegal software,
– acts fraudulently,
– starts an attack against the platform.
We can block your account due to the following reasons:
(a) use the Website in a manner that violates applicable state, local or international laws or regulations;
(b) use the Website for any unauthorized, deceptive, or malicious purpose;
(c) any other behavior that restricts or limits the use of the Website for others, or that may impair the Company or users of the Website;
(d) the use of the Website in a manner that can block, encumber, damage, or impair the Website;
(e) the use of any robots, spiders, automated tools, or process to reach the website for any purpose, including observing or copying the materials on the website;
(f) having access to system, data, or information that we do not intend to make available to users;
(g) obtaining any material or information in any way that we did not intend to make available; or
(h) using the website for any purpose that was not intended originally.
It is up to our customers to decide whether use or not to use INLOCK, but they must take into consideration the regulations of their home country. You may use INLOCK only for lawful purposes and in accordance with our Terms of Use.
You are entitled to receive interest if you deposit cryptocurrency in your Savings Account. Interest will be credited only after the first full day of crypto assets being placed in the Savings Account. Interest is paid on Wednesdays of each week, at which point you will be paid interest on the full days accrued until then.
You are not entitled to receive interest during the period in which:
– You are requesting a loan offer (technically your cryptocurrency will be locked during this time). This includes the case when you request a loan offer but do not accept the given loan. In cases like that, you have to cancel the credited interest for that day. You can create your individual loan offer on the INLOCK website at any time, without having to request an actual offer on the website or mobile application, so you can avoid interest loss.
– You are not entitled to receive credited interest on the ILK token if you aim to sell your tokens on INLOCK TokenMarket, regardless of whether the given amount of ILK token has been actually sold.
– Your account is locked as described in the Terms of Use.
Supported cryptocurrencies of INLOCK platform
Bitcoin (BTC ₿)
Ether (ETH)
Litecoin (LTC)
OMG
LINK
BAT
UNI
Maker
ILK
BNB
Stable coins:
USD Coin (USDC)
Tether (USDT)
DAI
PAX Gold (PAXG)
There is no maximized amount, any amount can be placed in the INLOCK Savings Account.
You can withdraw your consent from receiving electronic communications at any time by sending a withdrawal notice to our support team via [email protected] If you decline or withdraw your consent to receive electronic communications, you agree that you are putting the safety of your INLOCK account in danger. If you do not accept or you withdraw your consent from receiving electronic Communications from NLOCK, Income Locker OÜ reserves the right to suspend or terminate your INLOCK account.
After you accept the offer, the USDC will be immediately credited to your account. Then you may instantly transfer it or use it for any other purpose within the INLOCK platform.
The following information is directly moved from INLOCK Pioneer Program Terms and Condition. Before you start to use your Pioneer program code or share it with your invitees, please read and accept the policy.
COMMISSION AND REFERRAL BONUS
You shall be entitled to a commission as outlined in the terms and conditions.. The commission payable to Pioneer will be calculated according to the Commission Structure chosen on www.inlock.io (revenue share) unless different is agreed.
Commission settlement: Commissions will be calculated as stated on www.inlock.com. Any commissions payable in the original currency INLOCK received the transaction fee (BTC, ETH, LTC, ILK, etc.) except yield bonuses (see bellow in yield share section). Referred Customers in commission structures will need to validate themselves by completing the KYC process, and complete transactions on the INLOCK Platform. Eg.: get a loan, deposit to Savings Account, or Buy/Sell on the Tokenmarket. The Settlement period varies between the different transaction types.
In cases of disputed amounts beholden to advertised commission structures, “INLOCK Pioneer Program” maintains the right, and is expressly committed to, arbitrate the indebted amount of payable commission, and any additional items enclosed in agreements with its affiliates, in accordance with its own systems and server data. “INLOCK Pioneer Program” reserves the right to reject any commission for any reason, at its sole discretion.
Commission and Yield definitions:
Yield share: Additional 50% of all customers credited yield from Savings Account
| Yield Schedule | Unit | Proportion |
Distribution to Pioneers |
|---|---|---|---|
| Credited Savings Account yield | Yield inILK | 50% | Divided evenly between savings account’s depositor and borrower |
Savings Account Yield distribution breakdown in an example:
- Pioneer has two invitees who actively use Savings Account. First invitee deposit 1000 USDC, second deposit 750 USDC
- The Weekly USDC Savings Account rate is 8% APY. The first invitee realize ~1,53 USDC/week; the second invitee realize ~1,15 USDC/week
- Pioneer program members (inviting person) can access the realized yield’s 50% (proportion) in ILK tokens, calculated based on IBI price in the time of yield payout. This sum amount in this example: ~1,34 USDC/week to Pioneers.
- This ~1,34 USDC/week reward will be divided evenly between inviting persons (Pioneers) of Savings Account owner (as lender) and the Borrower, who generate the revenue itself. Both parties can access the yield based on their Pioneer Program bonus level. If both parties have maximum bonus level (50-50%), both parties are entitled to half of the reward (~0,65 USDC in ILK / week).
- If Savings Account’s inviting person has the minimum Pioneer Program bonus level (25%), but the Borrower’s inviting person has the maximum Pioneer Program bonus, the following distribution will be applied:
- Savings Account’s inviting person (Pioneer of the lender): ~0,325 USDC in ILK / week
- Borrow’s inviting person (Pioneer of the borrower): ~0.65 USDC in ILK / week
- The remaining (unused) share from the applicable yield (~0.325 USDC/week) remains on the platform.
Revenue share: bonuses also rewarded for platform fee (lifetime commission) as seen below:
| INLOCK FEE SCHEDULE | Unit | Fee | Distribution to Pioneers |
|---|---|---|---|
| Using ILK Token Market to SELL ILK Tokens | Collateral | 0,4% | Purchaser |
| Get a loan (origination fee) | ILK, based on Collateral (calculated on IBI) | 0,5% | Divided evenly between savings account’s depositor and borrower |
| Collateral termination on margin call level | Collateral | Max 5% | Divided evenly between savings account’s depositor and borrower |
| Contract termination on due date without repayment | Collateral | Max 5% | Divided evenly between savings account’s depositor and borrower |
| Contract termination from locked collateral | Collateral | 1% | Divided evenly between savings account’s depositor and borrower |
You may choose between 10, 30, 45, 60, 120, 180 or 360 days.
It is not possible to borrow for more than 360 days as of now, but loans can be closed at any time, in which case the client only has to pay the interest on a pro-rata basis.
The transfers of cryptocurrencies are made by open blockchains, for which reason we cannot immediately credit incoming transfers when they appear on blockchains, only after a certain amount of additional blocks. Use the list below to check the minimum amount of confirmation (blocks) required to credit a transaction. In all cases of remittance transactions, note down the sender side transaction ID (so-called txid), as with this ID, our colleagues can help you if a remittance does not arrive.
A minimum number of confirmed blocks required:
6 blocks in case of BTC and LTC
12 blocks in case of ETH, ILK, and USDC
You can check the number of confirmed blocks per transaction at any time in well-known blockchain explorer applications (eg blockchair.com or etherscan.com). If your transfer does not appear in INLOCK after that block number, please contact INLOCK Support at [email protected] or live chat to indicate the transaction amount, the amount that needs to be transferred, the currency, and the crypto address to which the transaction was made.
The loan can be used freely for any purpose, which is permitted by legal and regulatory frameworks.
APR: Annual percentage rate, it is your interest rate stated as a yearly rate.
APY: Annual percentage yield, it is the return that can be realized on your savings annually. The APY expresses the effect of compounded interest for a full year.
Compounded Interest: it means the capitalization of interest. Currently, the INLOCK platform is not capitalizing accrued interest on loans with a maximum of 180 days, therefore our clients are not charged with any hidden surcharge of interest over time.
In the case of using the Savings Account, interest income accumulated by the customers is credited each week, which enables the collected interest to continue to bear interest from week to week!
The system will send several reminders via e-mail prior to the scheduled repayment date. If you can’t make the repayment or ignore the notifications, the collateral managing system will automatically liquidate a part of your collateral and pay your loan back. Only the part of the collateral will be sold that is needed for the full repayment, the remaining part will be automatically credited to the client’s account.
By paying in installments, clients can reduce their arrears (in case they repay more than the current interest debt). As a result, clients only have to pay interest on a lower debt for the rest of the contract.
Prepaying is completely free of charge.
Yes, you may own any number of loans. You can set different maturities and values for them.
The allocations are implemented automatically in the INLOCK system. INLOCK initiates the withdrawal process every 10 minutes (approx), but the withdrawal time depends on the network congestion and other internal processes but on average it does not last more than 1-2 hours.
In some rare cases, it may occur that manual approval is needed before transferring. In every case like this, the client receives a notification email about the necessary steps. There are basically 3 cases when manual approval is needed:
1️⃣ Insufficient level of identification, missing or probably expired data. The client has not done the customer identification, or has not finished yet, has missing data, or possibly one of their documents has expired which has to be renewed and uploaded again.
2️⃣ Suspicious operation: The system perceived the allocation and its conditions as a suspicious action, therefore it asks for manual approval. The evaluation happens based on several different aspects here, these all are adding up to a value, on the basis of which it turns out whether the automatic allocation has to be blocked or not. A couple of examples: immediate allocation after 2FA blocking is guaranteed to be a suspicious action. As long as you can only enter with an extra email identification at the new recaptchav3 after getting a low Recaptcha score, then it also comes to a manual allocation. The system also monitors the volume and address of these allocations.
Less than 5% of these allocations are accompanied by a manual event.
3️⃣ Managing liquidity is essential: generating interest in the INLOCK Savings Account comes from lending cryptos to institutional actors, typically in the short or medium term, but with fixed revocation. INLOCK maintains a daily supply of every coin which can be used to handle the expected demand for allocating. The supply of big coins is significant (even higher than 25k-50k USD, moreover it is even greater in the case of Bitcoin), the newly-introduced smaller coins have less amount logically. When the client would like to allocate an amount of coins so big, that it does not have enough supply, then it has to be manually approved and the extension of liquidity starts. As a part of this process, the given asset is recalled from one or more partners. Its lead-time usually takes 1-2 hours, however, our obligation is 2 business days according to our contract. Since the majority of our partners are located in the USA and Singapore, time difference and holidays can be also time-consuming, but the process does not exceed 2 business days generally. In fact, our longest allocation time was 17 hours. The amount of transfers that go beyond the inner supply is barely 2% of the cases.