How to Borrow Crypto on BitForex?
On BitForex, anyone can borrow a loan, so long as you are a registered user.
Visit our BitForex Crypto Loans Page, and sign up for an account.
Choose the type of crypto and the amount you want to borrow
Select the crypto assets to be pledged, then the platform will automatically generate the amount of pledged assets.
Determine the length of the loan term (7-180 days)
Click the "Start Borrowing Now", after conforming order info and checking to agree to the user service agreement, click the "Confirm" to generate a loan order.
Now, you are already successfully loaned crypto from our platform. You can review your orders on the Ongoing Orders page.
Through BitForex Loans, you can borrow up to 85% of the value of your collateral and the loaned funds can be used anywhere.
How to adjust ltv?
Adjust LTV: You can adjust LTV by dragging the slider :
- You need to add a certain amount of collateral in order to reduce LTV by moving the slider to the left.
- When you move the slider to the right, a certain amount of collateral can be released.
How to Repay Crypto Loans
Repaying the loan is simple enough. Borrowers are required to manually repay the loan via the Ongoing Orders Page.
On this page, users can see the main info of the order and can perform the repayment process. Click “Repay”, and a repayment confirmation message box will pop up, and the user can repay in proportion and will receive the corresponding fraction of their pledged deposit.