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Binance Crypto Loans User Manual

2020-06-17 05:35
Video tutorial

How to borrow a loan?

1. Click [Finance] - [Crypto Loans]. To start borrowing:
  • Select the asset you want to borrow and enter the borrowing amount.
  • Choose the collateral asset and enter the collateral amount.
  • Choose a loan term.
  • After confirming the borrowable amount, collateral, interest, repayment, and more, click [Start Borrowing Now].
2. Review the loan details on the Order Confirmation pop-up. Read carefully and agree to the Binance Loans Service Agreement and click [Confirm].

How to adjust the Loan-To-Value (LTV) ratio?

1. Click [Ongoing Orders] - [Adjust LTV].
2. You can move the LTV bar to adjust the LTV ratio, or manually add/remove the collateral amount.
3. Click [Add Collateral] or [Remove Collateral] to confirm the LTV adjustment.

How to repay a loan?

1. Click [Ongoing Orders] - [Repay].
2. You can enter the [Repayment Amount] directly or select a repayment ratio.
3. Review the details and click [Confirm repayment].
4. You will see a confirmation message after the repayment has been successfully processed.

How to repay a loan with collateral?

1. Click [Repay] on the Loan Orders page.
2. Enter the repayment amount and choose [Repay With Collateral]. Check the “interest repaid”, “principal repaid”, “total repayment”, “LTV after repayment”, and “returned collateral amount”. Click [Confirm repayment].

How to renew a loan order?

You can renew loan orders within 24 hours before the loan order expires. Before renewing the loan order, you must pay the interest on the original order first.
1. On the [Ongoing Orders] tab, select the order that needs to be renewed and click [Renew].
2. Check and confirm the terms and conditions, then click [Pay & Renew] to renew the loan order.

How to check my loan orders and history?

Click [Orders] - [Loan History]. Here you can check your:
  • Loan Orders
  • Repayment History
  • LTV Adjustment History
  • Liquidation History
  • Loan History

How to use the Auto Top-up function?

The Auto Top-up function helps you better manage your loan positions by automatically transferring the equivalent collateral assets to loan orders from your Spot Wallet to maintain the initial LTV ratio during a margin call.
To enable Auto Top-up, go to the [Asset Overview] tab and toggle on the [Auto Top-Up] button in the upper right corner.

What are the liquidation fee and liquidation price?

You will be charged a 2% liquidation fee based on your borrowed amount if liquidation happens. It will be deducted directly from your collateral in accordance with the market price.
Orders with an LTV ratio of 83% will be liquidated. Please note that the liquidation price displayed on the order page is for reference only. The actual liquidation price will be affected by market fluctuations and other factors. The final liquidation price is subject to the actual price the platform charges. Please note that the price differences may lead to asset losses when liquidation happens. Therefore, please keep track of the LTV ratio to avoid being liquidated.