How Do I Increase the Collateral Amount?
As you know, the cryptocurrency rate always changes. The same happens to the rate of collateral you pledged to get a loan. If collateral is insufficient or exceeds the necessary amount, you will get a notification. But you can actually increase your collateral on LendaBit.com at any time.
Log in to your account and tap “My Account.”
Currently, there are 3 cryptocurrencies accepted as collateral currencies ꟷ BTC, EMC and USDT. Choose any to your preference. The system will automatically generate a corresponding wallet address for collateral (upon your choice ꟷ BTC, EMC or USDT), copy it and transfer funds from your personal crypto wallet to the provided wallet address.
Actually, LendaBit.com made borrowing simpler and accessible. Now you can deposit collateral while reviewing Loan Requests placed by qualified lenders. Simply tap “Deposit Collateral.”
In the rest of the cases, you are able to deposit collateral while applying for a loan.
Pledging collateral does not take long and you will get your loan in due time.
Alex Maznyi, Project Manager at LendaBit.com May 27, 2019 at 11:58 am
Please, write to our support chat on site or in telegram channel(https://t.me/Lendabitcommunity) with your problem.
If it’s not convenient for you – describe your problem here (https://lendabit.com/support) and our support team will contact you.
Datchaphon June 6, 2019 at 6:05 am
Alex Maznyi, Project Manager at LendaBit.com June 7, 2019 at 1:34 pm
Hope you are doing great.
Please, be kindly informed that it is not possible to take out a loan without collateral.
Loan service we provide is designated, primarily, for people owning crypto-assets. Basically, we give an option to “keep alive” the investment in crypto-currency when crypto-investor is in need of some funds and the opportunity we provide is to obtain a loan instead of selling crypto-assets.
Borrowing against your crypto, allows you to save potential gains from long-term holding it. If you would like to find out more on why collateral is important, welcome to our blog – https://lendabit.com/blog/importance-of-secured-loan-collateral/
Also, it should be noted that deposited collateral amount will be available for withdrawal when you repay the loan. Please, take into account that using our platform you can repay the loan at any moment suitable for you till the end of the loan term.
Moreover, we have provided a new feature recently which allows you as a borrower to reduce the collateral amount (from 50% up to 80% ratio) accordingly to personal preference.
So, using this feature you become a loan manager by regulating/adjusting collateral risk rates. You are welcome to do it by using the “Make a Loan Request” option.
If any questions arise, feel free to reach out for assistance via online chat, by email and phone +852 8198 0026, or request Customer care. And welcome to join us on Telegram.
WAJID ali July 10, 2019 at 11:06 am
Very good system
Alex Maznyi, Project Manager at LendaBit.com July 11, 2019 at 12:00 pm
Thanks a lot.
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