Crypto loan refers to users pledging one crypto to borrow another.
How to get a crypto loan on Gate.io website:
Step 1: Log in to your account on Gate.io website and go to "Finance"-"Crypto Loan".
Step 2: Search the currency your want to borrow and select it. Choose an item from the list of the borrowables according to your demands and click on "Borrow".
① Search the currency you want to borrow if it is not already listed;
② Click to go to spot trading page;
③ Click to withdraw;
④ Click to go to "Crypto Lending";
⑤ Compare the daily interest rate and borrowable amount of each item. Click on "Borrow" to continue the borrowing process.
Step 3: Enter the volume of the loan, select the collateral currency and enter its amount. Then click on "Confirm Loan".
① Input the amount that you intend to borrow;
② Select the collateral currency;
③ Enter the amount of the collateral;
④ Check all information filled in the boxes and click on "Confirm Loan"
Step 4: You can find "Borrowing History" at the bottom of the "Crypto Loan" page. Here you can view the details of your loan(s) and make repayment(s).
How to get a crypto loan on Gate.io mobil e app:
Step 1: Open Gate.io mobile app and log in to your account. Go to "Gate.io Finance"-"Crypto Loan".
Step 2: On the "Borrow" page, select the currency you want to borrow. Choose an item from the list according to your demands and click to continue the borrowing process.
Step 3: Now you can view the details of the loan on this page and enable/disable auto-renew. After entering the to-be-borrowed quantity, selecting the collateral currency and entering its amount, click on "Borrow Now". (Please pay attention to the loan-to-collateral ratio.)
Step 4: View details of your loan(s) and make repayment(s) in "Repay"-"Current borrowings"
① When the loan-to-collateral ratio reaches 90%, Gate.io will promptly close the position for repayment, which will leave a record in "Payment history";
② If you have an active loan, please pay close attention to the loan-to-collateral ratio to avoid loss;
③ Before the repayment is made, partial or full withdrawal of the collateral is suspended;
④The collateral will be deducted from the user's spot account and returned automatically to the same spot account after repayment.