Bitrue Loans is the digital currency lending service provided by the Bitrue exchange. Pledge your coins in order to borrow USDT, BTC, XRP or ETH. This allows you to continue to hold the rights to your digital currency while freeing up working capital for immediate projects.
1.Users must pass KYC verification and set up their PIN code before they can use the loan service.
2.Digital assets must be pledged first, then an alternative currency can be borrowed.
3.The amount of pledged coins cannot be less than [Minimum Pledge]. Minimum Pledge = 100 USDT / pledge currency real-time USDT unit price
4.Currencies that can be pledged:
1). Mainstream coins:
5.Borrowing period: Unlimited
6.Interest-bearing rules: Interest is calculated daily at 1am (GMT+8)
7.Basic daily interest rate: Floating
8.Interest payment method: Amount to be repaid will be stated at the end of each month, and must be repaid between 1-5 of the next month. If payment is not received by the deadline, the system will automatically deduct funds at midnight on the 6th (GMT+8) (with no penalty). Payments will be automatically debited from the asset account. If the balance of the asset account is insufficient, the system will deduct the remaining interest from the pledged account.
9.Principal repayment method: Repayments may be done at any time, but any outstanding interest must be paid before principal.
10.Lending pledge rate: , set according to the risk rating of the pledged currency
11.Mandatory delivery rate: , set according to the risk rating of the pledged currency
12.Floating pledge rate = (valuation of the loan digital currency of an order + unpaid interest valuation) / pledge currency valuation * 100%
13.Mandatory delivery rules: When the pledge rate ≥ the mandatory delivery rate, the pledge position will be forced to close (when the pledge rate reaches a dangerous value, Bitrue will notify the user by mail and SMS)
14.For orders with a borrowing period of more than one month, Bitrue has the right to actively stop the loan if the user's risk suddenly rises.Stopping method: The system will automatically deduct the user's arrears (interest + principal) from the user's asset account, and return the user's pledged currency to the user's asset account; if the corresponding balance of the user's asset account is insufficient, the system will enforce the mandatory delivery.