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.